I guess it depends what you mean by "the market". A lot of money which previously would have been allocated to public equity credit or bond markets is now being

I guess it depends what you mean by "the market". A lot of money which previously would have been allocated to public equity credit or bond markets is now being allocated into private investment (PE, VC, private debt, etc etc). A key selling point for those investments is that they are "outside" the (public) markets.