FICC Focus

Bloomberg Intelligence
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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.
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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.
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42 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.
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9 snips
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.
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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.
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13 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.
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11 snips
Aug 8, 2025 • 1h 36min

State of Distressed Debt: Axar’s Axelrod Keeping Loan-to-Own Alive

Andrew Axelrod, Founder and CEO of Axar Capital Management, discusses his firm's investment strategies in distressed corporate credit. He explains how focused buyers like Axar help stabilize troubled loans while emphasizing the 'loan-to-own' approach and the necessity of diligent capital commitment. Axelrod shares insights on identifying effective management teams and adhering to a strategic process during economic shifts. The conversation also touches on notable distressed cases, including the challenges faced by companies like Claire's and CommScope.
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Aug 7, 2025 • 23min

Macro Matters: Secular Macro Trends With Invesco’s Brian Levitt

Join Brian Levitt, Global Market Strategist at Invesco, as he explores macroeconomic trends alongside experts Ira Jersey and Will Hoffman. They discuss how technology raises living standards despite fears, and the short-term dynamics of inflation. Levitt emphasizes strategic investment amidst uncertainty, highlighting alternatives to the 60-40 portfolio model. The conversation touches on global market strategies and innovative sectors like healthcare, urging listeners to rethink asset allocation and navigate inflation risks effectively.
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8 snips
Aug 6, 2025 • 19min

Dollar Bear Views Hold and Recent Rally Already Over: FX Moment

Elias Haddad, Senior Market Strategist at Brown Brothers Harriman, discusses the current state of the U.S. dollar and its implications for the economy. He highlights the recent weakness in non-farm payrolls and the unexpected firing of the Bureau of Labor Statistics Chief as key factors sustaining a bearish dollar narrative. They explore the Federal Reserve's shifting interest rate stance and its impact on the dollar compared to other currencies. Additionally, Haddad examines the euro's potential growth against the dollar, suggesting a bullish outlook.
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Aug 1, 2025 • 20min

Real Estate Private Credit With Madison’s Zegen: FICC Special

Josh Zegen, principal and co-founder of Madison Realty Capital, shares insights into the evolving realm of real estate private credit. He highlights the importance of flexible capital in filling the financing gap traditionally occupied by banks. The conversation dives into the affordability crisis in residential real estate and the trend towards single-family rentals. Zegen also discusses innovative strategies for repurposing office spaces into residential units and explores nontraditional investment sectors, shedding light on their unique risks and opportunities.

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