Private Credit Emerges as a Resilient Asset Class Amid Economic Uncertainty

This week’s CIO Commentary, led by Saira Malik and Nuveen’s Global Investment Committee, assesses key macroeconomic signals and their portfolio implications, with a spotlight on the growing role of private credit.

• Labor market data revealed mixed signals: while nonfarm payrolls were broadly in line with expectations, first-time jobless claims rose and involuntary separations hit a high since October 2024.

• Both manufacturing and services PMIs dipped below 50, reflecting contraction and heightened tariff-driven uncertainty.

• Private credit stands out for its structural resilience, attractive loan terms, and consistent yield premium, even in volatile conditions.

Explore the full report for deeper macro context, forward-looking risks, and actionable insights on asset allocation strategy.