Current Credit Market Trends in Q4 2026

Each season, we dedicate one episode to discussing current credit market trends. In this season’s episode, we discuss the Fed’s recent rate hike and what higher borrowing costs mean for credit, how software credit has recovered since this spring’s AI-driven sell off, and where private and public credit investors are finding opportunity in financing the AI build out. Our discussion, hosted by Colbert Cannon, features Vikas Keswani, HPS’s Head of Direct Lending, Serge Adam, a Portfolio Manager of Multi-Asset Credit here at HPS, and Dominique Bly, a Macro Credit Research Strategist within BlackRock’s Private Financing Solutions platform.