FICC Focus

Bloomberg Intelligence
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Oct 7, 2025 • 28min

EM Lens: From Risk to Resilience With Andersen’s Natalucci

Fabio Natalucci, CEO of the Andersen Institute for Finance & Economics and former IMF official, shares his insights on global financial stability and emerging markets. He discusses the challenges of a multipolar world, the shifting dynamics of the dollar, and alternative stores of value like gold and Bitcoin amid concerns over currency debasement. Natalucci highlights the attractiveness of emerging markets due to credible policies and real rates, while also addressing AI investment's impact on economic growth and the risks associated with frontier sovereign debt.
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Oct 2, 2025 • 27min

Macro Matters: All Things Rates with BofA Strategist Swiber

Meghan Swiber, Senior U.S. rates strategist at Bank of America Securities, shares her insights on the shifting landscape of U.S. rates. She explores the potential move away from the federal funds rate as the policy target and highlights BofA's hawkish outlook amidst recent economic uncertainties. Swiber also delves into Treasury issuance strategies, discussing the implications for long-term rates and the tension surrounding the Federal Reserve's balance sheet. Her analysis offers a fresh perspective on how macroeconomic factors could influence future rate decisions.
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20 snips
Sep 29, 2025 • 56min

Credit Crunch: Rithm’s Nierenberg on M&A, Recasting Perceptions

Michael Nierenberg, Chairman, President, and CEO of Rithm Capital, shares insights from his extensive career in asset management. He discusses Rithm’s strategic M&A growth, including the acquisition of Paramount Group and Crestline, aimed at enhancing their credit capabilities. Nierenberg emphasizes the importance of technology and AI in mortgage operations, and the company's focus on consumer lending niches. He also explores the impact of current economic conditions on the credit cycle and how volatility can present unique investment opportunities.
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Sep 25, 2025 • 30min

Macro Matters: Mortgage-Market Update With BI’s Erica Adelberg

Erica Adelberg, Head of Mortgage Strategy at Bloomberg Intelligence, brings her expertise in mortgage-backed securities and market structure to the discussion. She dives into the refinance opportunity with nearly $1 trillion in incentives, impacting MBS pricing and prepayment risks. The conversation covers how non-bank lenders enhance borrower choices and the dynamics of cash buyers and investors in today’s market. Erica also explains the implications of the Fed's balance sheet runoff and current buyers in the mortgage sector, painting a comprehensive picture of today's mortgage landscape.
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Sep 19, 2025 • 20min

All Options Considered: Volatility of NFT Art - View from Christie's

Nicole Sales Giles, Director of Digital Art at Christie's, dives into the colorful yet tumultuous world of NFTs. She reflects on the groundbreaking Beeple sale and how Christie's adapted to the digital art revolution. The conversation explores the volatile nature of the NFT market and the intriguing role of AI as a creative partner. Nicole shares her insights on future trends and highlights up-and-coming digital artists worth watching, offering a glimpse into the evolving landscape of art for a new generation.
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Sep 18, 2025 • 27min

Macro Matters: Global Central-Bank Meetings Review — Rates Recap

Join Huw Worthington, Bloomberg Intelligence's European rates strategist, as he delves into the intricacies of recent central bank meetings. He discusses how the Bank of England is moderating gilt sales and the Bank of Canada’s aggressive rate cuts. Worthington shares insights on the impacts of quantitative tightening on funding markets and explores the evolving balance-sheet policies of major banks. The conversation also touches on yield-curve expectations across North American and European markets, highlighting potential shifts and strategies.
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10 snips
Sep 15, 2025 • 1h 4min

Credit Crunch: Adams Street’s Diehl on Trends in Private Capital

Jeff Diehl, managing partner at Adams Street, shares insights from his journey in private equity and the launch of their private credit business. He discusses the risks of rising default rates in the current economic environment and the impact of interest rates on direct lending. Diehl emphasizes the importance of sector focus and technology in investment strategies, alongside the need for accurate cash flow assessments for debt servicing. He also explores the synergies between private equity and venture capital, shedding light on the evolving dynamics of the asset class.
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Sep 13, 2025 • 1h 49min

State of Distressed: Joele Frank’s Freitag on Distressed Liaisons

Michael Freitag, a partner at Joele Frank, dives into the evolution of communications in distressed debt. He explains the importance of clear messaging in bankruptcy situations and how it has adapted over 30 years. Freitag emphasizes the need for timely press releases to counteract misinformation in the digital age. The discussion also touches on the complexities of QVC’s financial struggles and the unique challenges of companies like Claire’s and Spirit Airlines during restructuring. A captivating conversation on managing crises through effective communication!
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Sep 12, 2025 • 22min

EM Lens: Risk Appetite Is Improving, Capital Flows to Follow

In this engaging conversation, Bertrand Delgado, head of Latin America strategy at Societe Generale, shares insights on the improving foreign demand for emerging-market local debt. He discusses how geopolitical risks and opportunities are shaping investment flows, particularly in Latin America. Delgado analyzes the impact of central bank policies on debt performance and the favorable conditions for Latin American currencies. Additionally, he highlights the effects of political changes, especially in upcoming elections, on fiscal policies and investment opportunities.
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Sep 11, 2025 • 30min

Macro Matters: Federated Hermes Gallo on Fixed Income Outlook

RJ Gallo, Deputy Chief Investment Officer for Fixed Income at Federated Hermes, dives deep into the current state of the Treasury yield curve and its future movements, highlighting the impact of recent government policies like tariffs. He discusses the quality of economic data and the reliability of macroeconomic indicators, particularly in the context of political influence on the Federal Reserve. Gallo also outlines yield curve strategies and examines opportunities within the municipal bond market, emphasizing the complexities of investment in today's environment.

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