The Insight by Oaktree Capital
Conversations: Oaktree Conference 2024 Edition
Jul 2, 2024
Join Oaktree co-chairman Howard Marks and Oaktree's Global Credit and Opportunistic Credit teams as they discuss the sea change thesis, trends in high yield bonds and leveraged loans, and key themes in today's restructuring environment during Oaktree's client conference.
39:14
AI Summary
AI Chapters
Episode notes
Podcast summary created with Snipd AI
Quick takeaways
- The 'sea change' thesis by Howard Marks highlights the impact of declining interest rates, benefiting investors but signaling an end due to rising inflation concerns.
- The shifting investment landscape stresses the need to adjust strategies in the current rising interest rate environment for better alignment with economic conditions.
Deep dives
Sea Change in Financial Markets
Howard Marks discusses the fundamental shift termed 'sea change' in financial markets due to the significant and long-lasting changes influenced by highly accommodative monetary policy. Marks highlights the profound impact of declining interest rates on the economy, business profitability, asset values, cost of capital, and default rates. The prolonged period of declining rates has majorly benefited investors, stimulating economic growth and reducing borrowing costs, but this favorable era is believed to have come to an end with inflation concerns and rising interest rates.
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
