In this month's EM Lens & Look-Through podcast, host and BI Chief EM Fixed Income Strategist Damian Sassoweris joined by Claudio Irigoyen, Head of Latin America fixed income & FX strategy at Bank of America. Irigoyen shares his outlook for the region in the wake of higher inflation, slower growth and the broader shift toward populism.
In this month's EM Lens & Look-Through podcast, host and BI Chief EM Fixed Income Strategist Damian Sassower is joined by Claudio Irigoyen, Head of Latin America fixed income & FX strategy at Bank of America. Irigoyen shares his outlook for the region in the wake of higher inflation, slower growth and the broader shift toward populism.
Hosts, Eric Kazatsky and Amanda Albright, discuss new developments at the intersection of the sleepy municipal bond market and blockchain technologies. This week we are joined by Tammie Arnold and Stephen Winterstein from Alpha Ledger.
In this Macro Matters edition, host and BI Chief US Interest Rate Strategist Ira Jersey is joined by Noel Hebert, BI Chief US Credit Strategist, and Angelo Manolatos, BI Senior Associate Interest Rate Strategist. Jersey shares his thoughts on the June FOMC meeting, which he calls a “dovish 75-basis point hike” as Chairman Jerome Powell’s comments that interest rate increases of that magnitude wouldn’t be common, and said he expects the Federal Reserve will raise the federal funds rate to over 4%...
In this first edition of All Options Considered, Bloomberg radio host Caroline Hepker is joined by BI's Chief Global Derivatives Strategist Tanvir Sandhu and Chief Investment Officer and Founder of Artemis Capital Advisers, Christopher Cole, to discuss the latest developments in the volatility landscape.
In this Credit Chat edition, Robert Schiffman is joined by BI credit analysts Mike Campellone and David Havens to discuss the increasing risks in the retail and financial services sectors on inventory and supply chain issues, inflation, rising rates and the drop in crypto valuations.
In this State of Distressed Debt edition, Bloomberg News distressed debt reporter Eliza Ronalds-Hannon joins BI's bankruptcy litigation analyst Negisa Balluku, distressed credit analyst Philip Brendel and Global Credit Strategy head Noel Hebert to discuss why we believe a new distressed debt surge is starting, developments and ramifications of J&J's Talc subsidiary's strategic Chapter 11 filing, reports of Revlon debt restructuring talks, Talen Energy and TPC Group.
In this Macro Matters edition, host and BI Chief U.S. Interest Rate Strategist Ira Jersey is joined by Ben Emons, Managing Director of Global Macro Strategy at Medley Global Advisors, and Angelo Manolatos, BI Senior Associate Interest Rate Strategist.Emons discusses his views on the commodity, equity and fixed income markets, including how energy prices affect some equity sector spending patterns and how input costs are impacting earnings. Additional downside in stocks is possible, he notes. Jer...
In our Second FX Moment edition, host and BI Chief G10 FX Strategist Audrey Childe-Freeman and BI Chief Asia FX and Rates Strategist Stephen Chiu reflect on recent developments in the U.S. dollar and explore the theme of currency peg, with a focus on the HKD. Our FX Strategists discuss the recent dollar price action, with a focus on what triggered the pull-back and on whether it can be a sustained pull-back.
In this Credit Chat edition, BI Senior Credit Analyst Robert Schiffman is joined by Van Hesser, Senior Managing Director and Chief Strategist at Kroll Bond Rating Agency, to discuss the transition from stimulus-fueled super growth back to normal and its impact on high grade and high yield credit spread direction and volatility.
In this Macro Matters edition, host and BI Chief U.S. Interest Rate Strategist Ira Jersey is joined by Erica Adelberg, BI Mortgage Strategist, and Angelo Manolatos, BI Senior Associate Interest Rate Strategist. Adelberg discusses how the agency mortgage-backed securities differs in structure from other fixed income asset classes and reviews how the entire market structure has shifted amid climbing rates. She notes the Federal Reserve's balance sheet runoff and the possibility of sales of MBS and...
Eric Kazatsky and Amanda Albright discuss the worst start on record for municipal bonds and explore the key differences of active vs passive management for tax-exempts. They are joined by David Hammer Head of Municipal Bond Portfolio Management at PIMCO.
In this State of Distressed Debt edition, Bloomberg News reporter Eliza Ronalds-Hannon joins BI distressed credit analyst Philip Brendel and Global Credit Strategy head Noel Hebert to discuss recent developments. Topics include why we expect a new distressed debt surge may be upon us, views from the recent Milken conference, GWG Holdings' difficult bankruptcy, Revlon's turnaround and Talen's liquidity struggles.
In this Macro Matters edition, host and BI Chief U.S. Interest Rate Strategist Ira Jersey is joined by Anna Wong, Bloomberg Economics Chief U.S. Economist. Wong and Jersey discuss the Federal Reserve's May 4th meeting which Chairman Jerome Powell squashed the possibility of a 75 basis point interest rate increase in June, which left the markets thinking the meeting was hawkish. Jersey notes he did not hear it that way, while Wong notes she expects two more 50 basis point increases, followed by a...
FICC Focus offers the latest market views on interest rates, corporate bonds, emerging market debt, commodities and currencies by Bloomberg Intelligence analysts. In our first FX Moment edition, host and BI Chief G10 FX Strategist Audrey Childe-Freeman and BI Chief Asia FX and Rates Strategist Stephen Chiu reflect on recent developments in the euro and the yuan. Our FX Strategists discuss the recent euro price action, with a focus on the lack of revival after the re-election of pro-European Fren...
In this Macro Matters edition, host and BI Chief U.S. Interest Rate Strategist Ira Jersey is joined by BI Associate Interest Rate Strategist Angelo Manolatos. Jersey previews his views for the May 4th FOMC meeting and discusses his view for future 50bps interest rate increases and the possible affect on the Treasury yield curve. The team's written preview can be found Fed Terminal-Ra te Calibration Makes Pace of 2H Moves Uncertain. He also mentions the Treasury Department's refunding announcemen...
In this Credit Chat edition, BI Senior Credit Analyst Robert Schiffman is joined by Bloomberg News' Olivia Raimonde, David Brooke and Rachel Butt to discuss what's driving this year's sharp drop in high yield debt issuance, the transition of investor demand toward leverage loans and private credit, and the rise in distressed credits.
In this month's EM Lens & Look-Through podcast, host and BI Chief EM Fixed Income Strategist Damian Sassower is joined by the Founder and CIO of Emso Asset Management, Mark Franklin, and the co-deputy CIO, Jens Nystedt. The guests share their outlook for emerging markets in the wake of Fed tapering, Chinese deleveraging and the war in Ukraine.
Hosts, Eric Kazatsky and Amanda Albright, discuss algorithmic trading and increase in electronic tool usage in the municipal industry, with guests Marty Mannion and Matt Schrager from TD Securities.
In this inaugural Global Fixed Income Return Forecast edition, host and BI Chief U.S. Interest Rate Strategist Ira Jersey is joined by BI EM Strategist Damian Sassower. The two discuss the BI FICC Strategy team’s return forecasts for the next year, which appear in their note Global Creditors Tempted to Lean In After $5 Trillion in Losses. The research includes various potential portfolio allocations based on maximizing returns, sharpe ratios and other factors. Jersey and Sassower also discuss on...
In this State of Distressed Debt edition, Bloomberg News reporter Eliza Ronalds-Hannon joins BI distressed credit analyst Philip Brendel and Global Credit Strategy head Noel Hebert to discuss recent developments in the distressed debt markets. Topics include where we are in the distressed debt credit cycle, Incora's new financing and debt exchange, Toys R Us litigation, AMC's foray into gold mining and Exela Technologies' array of capital structure maneuvers.
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 BI Asia FX and Rates Strategist Stephen Chiu. The trio discuss their report “Mega FX Trends: Regionalization vs. De-Dollarization,” in which they note the dollar is likely to remain the dominant reserve currency, but regional trade blocks may form. Childe-Freeman highlights the challenges for the euro to overtake to dollar, such as lack of fi...
In this Credit Chat edition, Robert Schiffman is joined by BI credit analysts Jeroen Julius, Jody Lurie, Spencer Cutter and Mike Holland to discuss the risks, and potential rewards, a broad swath of issuers across banking, energy, healthcare and leisure as inflation rises, war rages in Ukraine and pandemic headwinds/tailwinds persist.
In this month's EM Lens & Look-Through podcast, host and BI Chief EM Fixed Income Strategist Damian Sassower is joined by Blaise Antin, Managing Director & Head of Sovereign Research at TCW Group. Antin shares his outlook for emerging-markets following Vladimir Putin's war in Ukraine. From rising geopolitical risk to global monetary policy tightening, emerging-market debt performance should remain volatile.
Months long spikes in rate volatility has adversely impacted the municipal market in 2022. One of the positives to come of this sea change is that credit may start to be re-priced back into the municipal market. That could impact high yield moreso than investment grade credits. These are among the issues discussed by BI Senior U.S. Municipal Strategist Eric Kazatsky and guests John V. Miller from Nuveen and Bloomberg's Amanda Albright.
In this Macro Matters edition, host and BI Chief U.S. Interest Rate Strategist Ira Jersey is joined by Anna Wong, Bloomberg Economics Chief U.S. Economist, and Interest Rate Associate Strategist Angelo Manolatos. Wong and Jersey discuss their views on what's next for the Federal Reserve after it raised interest rates by 25 bps. Wong notes she was surprised by the hawkishness of the Fed's dot plot, while Jersey was surprised by Chairman Jerome Powell's mention that details of asset runoff would a...
In this State of Distressed Debt edition, BI distressed credit analyst Philip Brendel and Global Credit Strategy head Noel Hebert contemplate how long the lull in distressed may last as analogs in the past may offer an answer. The two also discuss how the Russia-Ukraine war may impact on distressed supply, Revlon, and Diamond Sports' recent exchange offer.
In this Macro Matters edition, host and BI Chief U.S. Interest Rate Strategist Ira Jersey is joined by Damian Sassower, Bloomberg Intelligence EM Credit Strategist, and Interest Rate Associate Strategist Angelo Manolatos. Sassower and Jersey discuss the implications of recent political events, including the UN vote after the Russian invasion of Ukraine. Sassower analyzes the various political actions from China, India, and even Cuba. He also discusses possible market drivers in the near term for...
In this month's EM Lens & Look-Through podcast, host and BI Chief EM Fixed Income Strategist Damian Sassower is joined by Dr. Fabio Natalucci, IMF Deputy Director of Monetary and Capital Markets, and Rohit Goel, IMF Financial Sector Expert. Natalucci discusses the risks to financial stability as restrictive monetary policy overlaps with record debt levels. Goel delves into the world of EM sustainable finance as flows into ESG-related investments have surged in recent quarters.
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.
