This podcast episode examines the role of credit as a financial market indicator, its exceptional ability to detect looming risks, and its valuation in comparison to other asset classes. Despite the ongoing market downturn, credit has remained steady, performing as a follower influenced by factors like government bond yields and corporate earnings, rather than as a market driver. Credit's resilience is attributed to its focus on pricing in potential risks early, making it a safe haven in uncertain times. The speaker expresses optimism about credit's future, considering it a superior asset class with promising prospects.