For a short moment in 2020, markets were in turmoil, but after swift intervention from central banks and governments, calm returned, at least on the surface. The question is: Will it last, or are market dislocations just less glaring? Are they likely to flare up again? With companies of all sizes in need of capital and global issuance set to outpace last year, are loans and high-yield bonds the asset classes to be in? What differences are there across regions, and will central bank interventions continue to play an outsized role?