

FICC Focus
Bloomberg Intelligence
FICC Focus offers the latest market views on interest rates, corporate bonds, emerging market debt, commodities, and currencies by Bloomberg Intelligence analysts.
Episodes
Mentioned books

Aug 27, 2025 • 1h 18min
Credit Crunch: Significant Risk Transfers Feeding Private Credit
Matthew Moniot, a credit risk specialist at Man Group; James Plunkett, overseeing capital distribution at Natwest; and Lento Tang, a European bank analyst at Bloomberg Intelligence, dive into the intricacies of Significant Risk Transfers (SRTs). They discuss the critical role SRTs play in banking risk management and the shifting dynamics in Europe versus the U.S. Additionally, they unpack the challenges posed by capital regulations and the evolving landscape of investment opportunities, emphasizing the importance for credit investors.

Aug 26, 2025 • 18min
All Options Considered: Perception of UK's Outlook vs. Reality
Dan Hanson, Chief UK Economist at Bloomberg Economics, shares insights on the contrasting perceptions of the UK's economic outlook. He discusses the surprising growth amidst negative narratives, highlighting real wage increases and government spending impacts. The conversation turns to the challenges of productivity and investment, urging for increased public support. Finally, Hanson delves into the current state of the gilt market and the fiscal hurdles as the autumn budget approaches, providing a nuanced view of the UK's economic landscape.

14 snips
Aug 25, 2025 • 1h 1min
Credit Crunch: Palmer’s Bloomfield on Traditional, Static CLOs
Matt Bloomfield, Partner at Palmer Square and President of Palmer Square Capital BDC, shares insights on managing CLOs amidst the current credit landscape. He discusses the challenges of tight loan spreads and the need for strategic risk management. Bloomfield elaborates on the evolution of private credit, emphasizing the relationship with private equity, and highlights the importance of credit selection and diversification in navigating market complexities. He conveys optimism about growth in structured credit while advocating for adaptability in investment strategies.

Aug 21, 2025 • 23min
International Rates Alpha With Invesco’s Baijal: Macro Matters
Hemant Baijal, Head of Macro Alpha Strategies at Invesco, shares his insights on the dynamics of global rates and FX risks. He highlights how the future of the dollar is influenced by unhedged dollar assets and explores economic factors affecting investment strategies. The discussion delves into the impact of U.S. economic trends on global bond markets and examines currency flows amidst evolving credit landscapes. Baijal also addresses risk assessment for international and emerging markets, emphasizing the significance of strategic asset allocation.

5 snips
Aug 20, 2025 • 1h 11min
Credit Crunch: Around the World of Global Credit in 60 Minutes
In this insightful discussion, Tim Tan, Lead Asia Credit Strategist; Jason Lee, Associate covering China and India bonds; Basel Al-Waqayan, Middle East Fixed Income Strategist; Hema Patel, European Credit Strategist; and Reto Bachmann, Chief Strategist for Structured Finance, unpack the dynamics of global credit markets. They delve into the growing interest in Asia dollar bonds and Renminbi alternatives, explore the resilience of the Middle Eastern Sukuk market, and analyze trends in European green credit and structured finance, providing valuable strategies for investors.

Aug 19, 2025 • 31min
Masters of the Muniverse: Inside Muni Strategy With Jason Hannon
Join Jason Hannon, Head of Municipal Strategy at Wilmington Trust, as he dives into the current dynamics of the municipal bond market. With over 20 years of investment experience, he discusses how record muni issuance is affecting yields and investment strategies. Jason highlights the importance of active management in navigating today's market volatility and the steepening yield curve. He also unveils the hidden benefits of Separately Managed Accounts, clarifying misconceptions and showcasing how they can optimize returns for investors.

17 snips
Aug 18, 2025 • 58min
Credit Crunch: Apollo’s Cortese on Credit Trading, IG Privates
John Cortese, Head of Portfolio Management at Apollo, shares his extensive experience in navigating credit markets. He dives into the staggering $40 trillion private investment-grade segment and discusses the evolution of private credit. Cortese explains the advantages of scale in trading, liquidity challenges, and how non-bank lenders are reshaping financing. He also reflects on lessons from the early days of trading synthetics and the impact of technological changes on credit trading strategies.

Aug 15, 2025 • 26min
EM Lens: Dusting Off Global Macro Playbook With Citi’s Willer
Dirk Willer, Managing Director and Global Head of Macroeconomic Research at Citigroup, shares insights on the shifting dynamics in emerging markets. He discusses how improving growth and inflation expectations are influencing local rates, especially in a dovish U.S. Fed environment. The conversation dives into the complexities of the fixed income landscape, the impact of dollar fluctuations on emerging markets, and how AI is shaping new macroeconomic strategies. Willer emphasizes the importance of understanding capital flows and central bank behaviors in today's global economy.

Aug 14, 2025 • 23min
Macro Matters: Inflation Pricing With JPMorgan’s Phoebe White
Phoebe White, Head of Inflation Strategy at JPMorgan, specializes in TIPS and inflation derivatives. She discusses the potential impact of a September interest-rate cut by the Federal Reserve on inflation expectations. Phoebe explains how Treasury Inflation-Protected Securities work as a hedge for investors and navigates the complexities of the TIPS market. She highlights the relationship between real yields and inflation, emphasizing trading strategies influenced by economic reports and Fed policies, while also delving into the importance of analyzing core CPI.

12 snips
Aug 11, 2025 • 49min
Credit Crunch: Vontobel’s Jackson Talks Credit Relative Value
Andrew Jackson, Head of Investments at Vontobel, shares his extensive experience in fixed income and credit markets. He emphasizes the importance of active management and alpha vs. beta strategies, particularly in emerging markets. Jackson discusses the unpredictability of the bond market and the challenges posed by macroeconomic shifts. He highlights the current robust state of credit fundamentals in the U.S. and Europe, while also addressing potential risks in private credit. The conversation reveals insights on navigating liquidity and strategic trading in volatile environments.