Rethinking yield and resilience
Over the past decade, ultra-low interest rates made it difficult for investors to find attractive income opportunities. But with yields now at their highest levels in over 15 years, the global credit market once again offers both income potential and downside protection.

According to BNY Investments, the global credit universe spans more than 20,000 securities from over 2,600 issuers worldwide - a landscape rich with diversification, quality, and opportunity. From supranational entities like the European Investment Bank to multinational corporations and sovereigns, the sector offers exposure across industries, currencies, and geographies.

“Higher yields provide not just income potential, but also a cushion against volatility—an essential combination in uncertain markets,” the report says.

Navigating market storms - capturing Alpha
The white paper underscores that an active, globally integrated strategy can help investors weather turbulence while uncovering value others might miss. BNY’s research shows that during major financial crises—from the Global Financial Crisis to the pandemic—global credit strategies have historically demonstrated stronger resilience than regionally focused approaches.

The analysis highlights how flexibility, sector diversification, and active positioning allow managers to navigate shifting conditions and capture performance differentials - what the paper calls “precious Alpha.”
(See chart on page 9, showing global credit’s outperformance in past crises.)

Why volatility is opportunity
In the final section, BNY Investments takes a contrarian view: volatility isn’t a risk to avoid—it’s a source of opportunity.

Market dislocations often create mispricings, allowing active managers to identify value and build resilience through security selection and disciplined credit strategy.

With teams spanning both the U.S. and Europe, BNY’s approach leverages deep local insight within a unified global framework—an advantage in spotting early signs of credit deterioration or opportunity before they’re priced in.

A call to investors: The time to reassess is now
The white paper concludes with a clear message: the combination of elevated yields, fair-value spreads, and persistent market dispersion has created one of the most attractive environments for global credit in years.

For investors and advisors seeking to:

-- Strengthen diversification; 
-- Generate sustainable income, and
-- Navigate volatility with confidence. 

This paper offers timely, actionable insights.

Download the full white paper

“From Volatility to Value: Insights on the Global Credit Landscape”

Published by WealthBriefing in association with BNY Investments

Download your copy here to explore the data, strategies, and expert perspectives shaping the future of global credit investing.