The Federal Reserve’s policy response to the 2020 Covid crisis has been to drive interest rates down to zero, monetize government deficits, buy credit assets regardless of quality and add permanent liquidity support. This leaves world private investors now with limited places to go to for yield returns. The ‘Junk Bond’ space is looking more fragile as defaults rise. The ‘Emerging Bond’ space is under pressure from low commodity prices and a rising US Dollar. Dividend yielding funds are under pressure as the profits of corporations are reduced. Leveraged Fixed Income solutions require a lot more leverage to maintain returns. On the other hand, the subordinated bond space, notably the instruments of blue chip corporations more likely to survive the current crisis, continue to provide decent yields