The $1.7 trillion private credit market has had a stellar year.
U.S. ESG-related funds have returned 14% on average this year, underperforming the S&P 500 index.
The buying spree comes as the leveraged buyouts that are often financed by private credit have been drying up.
The world's second-largest asset manager sees the potential for better risk-adjusted returns for bonds than stocks.
The $95 billion asset manager is broadly positive about high-grade debt but is selling BBB rated bonds.
The world's second-largest asset manager expects interest rates to remain higher for longer.
Global green bond sales are on track for the biggest year ever.
The Wall Street giants are borrowing from the debt market after posting strong net interest income.
The ESG bond market is "maturing" in how it labels ethical debt, the firm said.
A company study found that the anti-ESG push runs along political lines and is isolated to the U.S.