Know More. Risk Better.

In this episode of the Know More. Risk Better. podcast, host Zachary Griffiths speaks with Hunter Martin, Head of Media and Cable, and Davis Hebert, Co-Head of High Yield Research and TMT, about the evolving media landscape and M&A activity in 2026. They dive deep into the Warner Brothers Discovery saga, analyzing Netflix's $83 billion bid versus Paramount's competing all-cash offer and the credit implications for bondholders. The conversation explores the broader consolidation wave in cable networks, with companies like Versant trading at four times EBITDA and the potential for private equity involvement. They also discuss the sports landscape, examining cord cutting trends, YouTube TV's new skinny bundles, and how NFL and NBA rights are reshaping the pay TV ecosystem. The episode concludes with insights on broadcast TV deregulation, including the Nexstar-Tegna merger and its impact on the high yield market. Listen now to gain expert perspectives on media sector credit views and strategic positioning opportunities for 2026.

In this episode of the Know More. Risk Better. podcast, host Winnie Cisar speaks with Matt Woodruff about the outlook for aviation, defense, and transportation as markets face a challenging start to the year. They discuss airline demand, pricing pressures, and the future of loyalty programs, as well as aircraft supply chain issues, lessor trends, and industry consolidation. The conversation then shifts to defense spending and geopolitical risks that could shape credit markets. The episode concludes with insights on rail M&A and its implications for investors. Listen now to gain sector-specific credit views and strategic ideas to position your portfolio for 2026.   

Kicking off our first episode of 2026, Know More. Risk Better. explores the political and economic fallout following the capture of Venezuelan President Nicolas Maduro, examining scenarios for regime change, US intervention, and market reactions. Zachary Griffiths and Conor Beakey dive into Venezuela’s oil sector challenges, sanctions relief prospects, and the broader implications of US policy in Latin America, including risks to regional stability and historical context for interventions. Gain timely analysis and actionable insights for investors seeking to understand evolving geopolitical risks and opportunities in emerging markets. 

Hosts discuss the tumultuous 2025 US credit market and offer insights for 2026. They reflect on market resilience and the impact of liquidity and technicals. The conversation includes the complexities of interest rate forecasting and the effects of tariffs on corporate behavior. Key topics include the underestimation of new-issue supply and the importance of risk assessment. A lightning round reveals their candid takes on private credit and refinancing risks, providing valuable perspectives for navigating a late-cycle credit landscape.

Season 9, Episode 22 This week on "Know More. Risk Better." features host Winnie Cisar along with Mark Lightner, for a comprehensive review of the 2026 Special Situations Outlook. The conversation examines the liability management transaction landscape, highlighting how creditor-on-creditor dynamics remained largely unchanged in 2025 despite the landmark Serta decision. The team explores the emerging antitrust challenge to creditor cooperation agreements, with two recent lawsuits (Selecta and Altice USA) alleging federal antitrust violations and seeking treble damages. Lightner discusses why this represents "the most important issue going into 2026" and how it could fundamentally alter the collaborative approach to restructurings. The discussion also covers the high-stakes Monsanto litigation heading to the Supreme Court, which could determine whether the $40 billion debt company faces bankruptcy over Roundup-related claims.

Season 9, Episode 21 This week on "Know More. Risk Better." features host Zachary Griffiths along with Andy DeVries, for a data center deep dive following the Edison Electric Institute investor conference. The conversation examines the supply-demand disconnect in data center capacity, with utilities committing to approximately 100 gigawatts of new capacity by 2030 against third-party estimates indicating only 50 gigawatts of actual demand. The team explores the rate payer protections utilities are implementing to mitigate overbuild risk, counterparty concerns when data centers move off balance sheet into special purpose vehicles, and credit quality implications across the sector. DeVries also discusses why independent power producers like Vistra may be better positioned than traditional utilities, and the potential for political intervention in capacity markets as electricity bills become a midterm election issue.

Zach Griffiths is U.S. Head of Macro and Investment Grade Strategy at CreditSights, bringing insights on U.S. GDP slowdown and Fed rate cuts. Logan Miller, Head of Euro Strategy, discusses the ECB's cautious stance and the impact of Germany's fiscal stimulus. Regis Châtelier, specializing in emerging markets, highlights strong fundamentals and growth potential in EM. The panel delves into credit market risks, the influence of AI on issuance, and concludes with actionable scenarios for investors looking to navigate the shifting landscape into 2026.

In this engaging discussion, Peter Simon, Co-head of U.S. Financials, provides insights on consumer credit trends and rising repossession rates. Todd Duvick, Head of Autos, explores vehicle pricing and the impact of tariffs on affordability. Jory Eisenberg, a Special Situations analyst, delves into the used-car market and financing challenges. Together, they tackle the implications of 2022 vintage loans, the operational contrast between Carvana and CarMax, and the current stability in the auto sector, concluding that systemic risk remains unlikely.

Luke Millar, a leveraged finance specialist and global editor at LFI, shares key insights on the European leveraged finance landscape. He discusses the impact of record refinancing volumes, sector performance like strong energy and resilient autos, and the rise of dividend recap transactions amid muted LBO activity. The conversation also covers widening CCC spreads, CLO demand dynamics, and the role of private credit as an alternative capital source. Luke provides a strategic outlook for the market, highlighting potential challenges and opportunities ahead.

Barry Eichengreen, a noted economic historian from UC Berkeley, and Cedric Chehab, chief economist at BMI, explore the relationships between the Roaring Twenties, the Great Depression, and today's economy. They discuss how new technologies like AI could impact productivity, the dangers of fiscal dominance, and the role of political polarization. The speakers also warn about risks in the non-bank financial system, analyze the historical failures of the gold standard, and consider the future of the US dollar amidst global challenges.