Guggenheim Macro Markets Episode 65: Macro and Micro Views on Credit Opportunities in a Shifting Economy
Strong fundamentals and positive market technicals should support credit performance in an environment characterized by high nominal yields, tight spreads, and elevated policy uncertainty. Maria Giraldo and Rebecca Elkins join Macro Markets to provide top down and bottom up perspectives on opportunity in the high yield and bank loan market.
Related Insights:
1Q 2025 High Yield and Bank Loan Outlook
Reframing tight spreads in leveraged credit.
Read High Yield and Bank Loan Outlook
Macro Markets Podcast Episode 64: The SMA Advantage—Institutional Strategies for Individual Investors
Adam Bloch, Portfolio Manager on our Total Return team, joins Macro Markets to explore separately managed accounts (SMAs), a structure that offers many potential benefits to individual investors. Bloch also shares his views on growth, inflation, and relative value in the market.
1Q 2025 Fixed-Income Sector Views
Entering 2025, bond yields remain attractive amid a resilient U.S. economy and uncertainty over policy shifts from the incoming administration.
Read Fixed-Income Sector Views
Investing involves risk, including the possible loss of principal. In general, the value of a fixed-income security falls when interest rates rise and rises when interest rates fall. Longer term bonds are more sensitive to interest rate changes and subject to greater volatility than those with shorter maturities. High yield and unrated debt securities are at a greater risk of default than investment grade bonds and may be less liquid, which may increase volatility. Private debt investments are generally considered illiquid and not quoted on any exchange; thus they are difficult to value. The process of valuing investments for which reliable market quotations are not available is based on inherent uncertainties and may not be accurate. Further, the level of discretion used by an investment manager to value private debt securities could lead to conflicts of interest.
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