Faculty News

In a contributed blog post, Professor Edward Altman offers insights on the current credit cycle, based on his research

Except from the CFA Institute blog -- "History shows that even with positive GDP growth, default rates on US corporate debt can and will start rising prior to a recession. The current cycle has also been extended by numerous out-of-court restructurings, the covenant-lite environment, and expectations that the US Federal Reserve will respond to signs of an economic slowdown or increased market volatility, or both, with aggressive monetary stimulus."

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