From video
Interpreted Prediction
There is a strategic shift occurring in the bond market from a reliance on credit ratings to a model of credit underwriting, where entities invest in and guarantee bonds, demonstrating 'skin in the game'.
AI Evaluation Notes
Based on search results, there's evidence of increased focus on credit underwriting and 'skin in the game' through investment and monitoring, but it is hard to precisely quantify the extent of the shift across the entire bond market. However, there has been increased discussion around direct lending and private credit.