The Business Times
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Credit markets are underpricing inflation, debt risks: Robeco CIO

Against this backdrop, the asset manager favours shorter-duration exposures and higher-quality credit

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Jean Low

Published Fri, Apr 24, 2026 · 12:00 PM
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    • Anton Eser notes that despite a more fragile macro backdrop, spreads across both investment-grade and high-yield credit remain tight in public markets.
    • Anton Eser notes that despite a more fragile macro backdrop, spreads across both investment-grade and high-yield credit remain tight in public markets. PHOTO: ROBECO

    [SINGAPORE] Credit markets are failing to price in renewed inflation risks and mounting global debt, even as private-credit vulnerabilities build up beneath the surface, warned Anton Eser, chief investment officer (CIO) at Robeco.

    Spreads across both investment-grade and high-yield credit remain tight in public markets despite a more fragile macro backdrop, pointing to what he described as a “fairly large amount of complacency”, he told The Business Times.

    “We are not being paid an exceptionally high amount of spread for the given environment we are in,” he added.

    InflationFixed income marketsgovernment deficit

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