Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found on the Help FAQ on gift articles.
https://www.ft.com/content/49bcdbd5-6c62-45a7-aca9-7ddb06078d6b

Private credit funds are weirdly skewed towards software borrowers, which might make for squeaky bum time come redemption. But we can’t easily track the market’s view as to their worth, given they are only periodically valued (and, often, by the same folks whose job it is to calm the nerves of end investors). We can look at public market credit data to observe in (almost) real-time how creditors understand the emergent risks to firms from AI disruption. But among issuers of US investment grade bonds these risks are currently priced as few and far between.

 

To continue reading the rest of the article, please click on the source link below;

https://www.ft.com/content/49bcdbd5-6c62-45a7-aca9-7ddb06078d6b