FICC Focus

In this Credit Chat edition, Robert Schiffman is joined by credit analysts David Havens and Himanshu Bakshi and BI's senior commodity strategist, Mike McGlone, to discuss the rising impact of Bitcoin on corporate credit, including Coinbase and Block.

In this latest episode of Masters of the Muniverse, Eric Kazatsky and Amanda Albright discuss the changing landscape of muni buyers with our guest is Sylvia Yeh, Co-Head of Municipal Fixed Income at Goldman Sachs Asset Management. We also look at how the rocket like growth in separately managed accounts is changing the way buyers look at tax-frees.

In this Macro Matters edition, host and BI Chief U.S. Interest Rate Strategist Ira Jersey is joined by Lauren Goodwin, Investments Economist and Strategist at New York Life, and Interest Rate Associate Strategist Angelo Manolatos.Goodwin discusses her views on the inflation after the January CPI print surprised to the upside, and notes a risk that wages could continue to climb, making inflation more persistent. She explains which sectors she thinks will outperform and suggests the market may be pricing for too many Federal Reserve interest rate hikes this year - with four being her base case. Manolatos reviews how the market has re-priced for the path of Fed interest rate increases and notes that the terminal rate is approaching 2% on the back of the strong inflation print.

In this State of Distressed Debt edition, BI distressed credit analyst Philip Brendel and Global Credit Strategy head Noel Hebert discuss why volatility and declines in Treasuries and equity doesn't faze distressed debt supply. The two also review how Sinclair Broadcast Group stakeholders may perceive Diamond Sports Group's proposed transaction, which would bring in $600 million of new financing and shuffle Diamond's debt stack a bit.

In this Macro Matters edition, host and BI Chief U.S. Interest Rate Strategist Ira Jersey is joined by BI's head of Fixed Income Market Structure Research Sean Savage and Interest Rate Associate Strategist Angelo Manolatos. Jersey shares his takeaways from the Jan. 26 FOMC meeting and post meeting press-conference, as well as the market reaction. Savage discusses how the central bank continues emphasizing its policy rate target as its main tool, and also the composition of the FOMC's balance sheet and how the T-bill portfolio may evolve. Manolatos says how the MBS unwind may be a bit different than last time and weighs in on the Bank of Canada's decision.

In this Macro Matters edition, host and BI Chief U.S. Interest Rate Strategist Ira Jersey is joined by BI Chief G10 FX Strategist Audrey Childe-Freeman and Interest Rate Associate Rates Strategist Angelo Manolatos.Freeman begins discuss the reasons the dollar may have turned recently and why she's still somewhat bullish, but believes the euro could also surprise as she thinks economic growth may beat expectations. She then talks about central bank outlook may affect her view on FX, plus how currency pairs may react to a risk off event as central banks tighten monetary policy. In the Fun Fed Facts segment, Manolatos reviews how the Federal Reserve started portfolio runoff in the prior tightening cycle, and how much is available for runoff if the Fed decides to take such action later this year.

In this Credit Chat edition, Joel Levington, BI's Global Head of Credit Research and Stephen Flynn, BI Sr. Telecom, Cable & Media analyst join Robert Schiffman to share their views on the trajectory of high grade and high yield fundamentals, rising star potential, funding expectations and outlooks for Ferrari, Ford, Tesla, Netflix, T-Mobile and Dish.

In this month's EM Lens & Look-Through podcast, host and BI Chief EM Fixed Income Strategist Damian Sassower is joined by Dr. Win Thin, Senior Vice President & Global Head of Market Strategy for Brown Brothers Harriman. Thin shares his 2022 outlook for emerging markets, as the asset class faces challenges from Fed tapering, Chinese deleveraging to Russian foreign policy, and Brazilian election risk.

In this Masters of the Muniverse edition, host BI Senior US Municipal Strategist, Eric Kazatsky is joined by Amanda Albright, Bloomberg News, Ksenia Koban, Payden and Rygel, Monica Reid, Kestrel Verifiers and Chris Hartshorn, ICE. All are here to discuss the municipal market and how investors and issuers are embracing sustainable investing.

FICC Focus offers the latest market views on interest rates, corporate bonds, emerging market debt, commodities and currencies by Bloomberg Intelligence analysts. In this Macro Matters edition, host and BI Chief U.S. Interest Rate Strategist Ira Jersey is joined by BI Chief European Interest Rate Strategist Huw Worthington and Interest Rate Associate Rates Strategist Angelo Manolatos. Jersey discusses the end state of the Federal Reserve's balance sheet and how he believes it will begin to reduce its assets beginning in May or July, soon after interest rates are first raised. Worthington says it may be a long way off from the start to asset runoff for the ECB, as the central bank said it won't start reduction until it hikes, and that is unlikely before mid-2023. And Manolatos shares his outlook for the Bank of Canada and notes that government bond liquidity may be at risk as assets run off quickly.