How the Federal Reserve responds to faster inflation is the biggest risk for corporate credit over the next year, according to one of the world’s largest bond investors.
Pacific Investment Management Co. is overweight travel and leisure bonds -- a bet on a post-pandemic awakening -- as well as bank debt as it bets on a strong economy that bounces back from Covid, Mark Kiesel, the firm’s chief investment officer for global credit, said Thursday during a Bloomberg Intelligence event.
