Explore a panel discussion on credit market trends featuring industry experts from Canyon Partners, Värde Partners, and Investcorp. Delve into the recent credit market stress, the Federal Reserve's intervention, and its impact on issuance and central bank participation across credit grades. Examine changing investor dynamics, market normalization, and the potential for manager specialization. Investigate whether the Fed's current market intervention is merely postponing a credit market reckoning that could lead to major downgrades and restructuring. Gain insights on real estate, recessions, supply shocks, solvency threats, political risks, international markets, long-term effects, structural infirmities, and the role of banks as agents in the credit landscape.