In a new episode of The View from Apollo podcast, Apollo Chief Economist Torsten Sløk shares his views on what the recent rate cut by the US Federal Reserve means for the economy and financial markets.
In conversation with Apollo’s Global Head of Content Strategy, J.P. Vicente, Torsten discusses the Fed’s decision-making process and how its voting members came to agree to an aggressive 50 basis-point fed fund rate cut. Torsten also shares his thinking on how far the Fed will go—and how far it should go—as it searches for that elusive point of equilibrium. Also: Torsten provides his views on what it all means for equity, credit, and real-asset markets.
The View from Apollo features conversations with thought leaders across Apollo and portfolio companies of funds managed by Apollo, each bringing their unique perspectives on current macroeconomic trends, the impact to various businesses, and what it can mean for investors.
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Market Insight | View from Apollo
September 20, 2024
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September 20, 2024
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September 20, 2024
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Equity | Investment Insight
Building Better Businesses: How Apollo Equity Helps Drive Value Through Portfolio Company Decarbonization
The whitepaper builds on Apollo’s longstanding commitment to transparency and expertise in equity strategies by providing an in-depth look into how the Apollo Responsible and Sustainable Operations team helps drive value through portfolio company decarbonization.
The buoyant demand for corporate debt that propped up primary markets this year came alongside pockets of distress in the riskier parts of the market. We expect this divergence to persist through 2024. In this outlook, we’ll explore the bifurcation in the market, investment themes—from AI to elections—in opportunistic credit, the vanishing liquidity premium in investment grade debt, and the relative value of BDC’s unsecured debt.
While the Fed’s rate hikes have reigned in growth, especially among over-levered consumers, corporates, and banks, the easing of financial conditions since the “Fed pivot” in December continues to offset the effect of higher rates. For the rest of 2024, we expect economic growth to be higher than consensus and inflation to stay above the Fed’s target. We see no Fed cuts in 2024.
