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All the Credit

Latest episodes

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Aug 25, 2020 • 37min

Can Real Estate Keep the Lights On?  Investing in Securitized Credit During COVID-19

With companies less reliant on office space, an ongoing shift to online retail shopping, and a recession in our midst, owning top-of-the-capital structure securitized products in our multi-sector portfolios can be a key differentiator.  Join Mike Collins as he hosts John Vibert, PGIM Fixed Income’s Head of Securitized Products, for Episode 7 of All The Credit. In this episode, John explains current market risks, his team’s process for mitigating those risks, and why he believes PGIM Fixed Income remains well-positioned.  Mr. Vibert also covers positions the team is actively adding to in the securitized product space, the team’s current best ideas, and how his team incorporates ESG factors into the investment process. Listen to this engaging discussion on All The Credit now and subscribe wherever you get your podcasts!
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Jul 28, 2020 • 34min

A Conversation with PGIM Fixed Income's Distressed Credit Analysts

PGIM Fixed Income's distressed credit analysts, Gregory Cass and Carras Holmstead, discuss the recent uptick in distressed credits, the inner workings of the distressed credit market, and how PGIM Fixed Income is well-positioned given the current environment.
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Jun 30, 2020 • 35min

PGIM Fixed Income's Pandemic Response: Preparation, Planning, and the Path Forward

PGIM Fixed Income's June 2020 episode of All The Credit provides listeners with an inside look at how our firm prepared for COVID-19 and the changes that came with the work-from-home shift of more than 90% of our employees. In this episode, PGIM Fixed Income's Head of Operational Risk, Jennifer Finnerty, sits down with our host Mike Collins to share these latest insights.
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May 26, 2020 • 35min

The Emerging Path for Investors with Cathy Hepworth, Head of PGIM Fixed Income's Emerging Markets Debt

In Episode 4 of PGIM Fixed Income's "All The Credit," Host and Senior Portfolio Manager Mike Collins is joined by PGIM Fixed Income's Head of Emerging Markets Debt, Cathy Hepworth. Cathy discusses her long-term tenure at PGIM Fixed Income, her path to being named Head of the EMD team, the state of the EMD sector, and why this asset class is important for investors going forward.
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Apr 15, 2020 • 35min

Will We Ever Get Outta Here? ― Potential Paths For The Recovery with Nathan Sheets

In Episode 3 of All The Credit, host and Senior Portfolio Manager Mike Collins welcomes Nathan Sheets, PGIM Fixed Income's Chief Economist and Head of Global Macroeconomic Research, for a discussion about the current market crisis.  Nathan draws on his prior experience at the Federal Reserve to compare the fiscal and monetary policy response to the recent economic volatility with that of the recession of 2008 while providing potential scenarios on what a recovery and return to normal could look like. The two also discuss the potential path forward for global interest rates, where risks and opportunities for active investors are emerging, and more. Listen now and subscribe to PGIM Fixed Income's All The Credit. To read Nathan's recent thought leadership on the Fed's response to COVID-19, visit PGIMFixedIncome.com.
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Feb 25, 2020 • 25min

"Capturing the Opportunity of Constraints" and Best Ideas with Greg Peters and Tom McCartan

In Episode 2 of All The Credit, Host and Senior Portfolio Manager Mike Collins welcomes Greg Peters, Head of Multi-Sector and Strategy, and Tom McCartan, Principal, LDI Strategies, for a discussion about how active fixed income managers like PGIM Fixed Income extract alpha across global fixed income markets. In addition to discussing their recent paper on the topic, Capturing the Opportunity of Constraints, Greg and Tom also share their insights on their current best ideas in the fixed income market and where investors could benefit from market dislocations and mispricings.
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Jan 28, 2020 • 43min

Active vs. Passive, ESG Investing, and a Fixed Income Outlook with Mike Lillard, Head of PGIM Fixed Income and CIO

On the inaugural episode of 'All the Credit,' Host and Senior Portfolio Manager Mike Collins welcomes Mike Lillard, Head of PGIM Fixed Income and Chief Investment Officer. In this wide-ranging interview, the two discuss the debate over active vs. passive investing, how PGIM Fixed Income thinks about ESG, global growth and macro views in 2020, and the firm's overall view of the top trends and opportunities in the fixed income markets. Key Takeaways: [1:40] How did Mike L. first get started in investment management?  [6:35] Mike L. is also a member of the Treasury Borrowing Advisory Committee. What are some of his responsibilities as a member?  [10:10] The two weigh in on the active vs. passive investment management debate.  [13:45] How does PGIM Fixed Income navigate through Environmental Social Governmental (ESG) issues when making investments for clients?  [17:45] How does PGIM Fixed Income rank and determine if an issuer is ESG friendly?  [21:10] Where does Mike L. see global growth headed in 2020?  [24:40] We have low inflation on a global scale, what does that mean for interest rates?  [27:30] Companies are struggling to see where the growth will come from long-term and therefore are more cautious about hiring talent and leveraging debt.  [27:55] Are we in a bubble?  [31:35] Mike L. shares his thoughts on some of the long-term risks to be aware of, such as the budget deficit in the United States.   [32:45] What industries/sectors should investors be focused on in the fixed income markets?    Mentioned in This Episode: PGIMFixedIncome.com Tweetables: “Thinking about the amount of risk you want to take vs. an index is more important than this active/passive label, which is pretty arbitrary.” “A lot of countries added significantly to the debt following the 2008 financial crisis and nobody has paid it back, no one has paid down that GDP.”

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