In the 1980s, Business Development Companies (BDCs) were established as publicly listed investment companies to provide debt and equity financing to small and mid-sized US companies. The capital is permanent; investors can enter or exit by buying or selling shares on the stock exchange. The sector remained relatively small for several decades

The strikes in Iran and across the Middle East carry severe human consequences for the region. For the markets, the key question concerns the potential impact on oil prices, inflation, growth and asset pricing.

Globally, yields on high-quality assets feel thin once adjusted for inflation and tax. Corporate balance sheets look sound, yet spreads are tight and carry is limited. Under such circumstances, emerging market debt offers a clear payoff profile. There is income and promising potential for capital gains through policy easing, currency strength, and credit improvement. The asset class is broader and deeper than a decade ago, with stronger institutions in many countries and a larger local investor base. That mix supports resilience through shocks.