FICC Focus

In this edition of the All Options Considered podcast, BI's Chief Global Derivatives Strategist Tanvir Sandhu is joined by Matthew Tym, Head of Equity Derivatives Trading at Cantor Fitzgerald. Discussion includes the US presidential election and impact of yield enhancement using options on index volatility.

The Bank of Canada's 25-bp June rate cut and statement bolster the view that dollar bears tired of waiting for the Fed could retain the loonie-bear view until a more-dovish US move unfolds, according to the latest FX Moment podcast. Host Audrey Childe-Freeman, Bloomberg Intelligence's chief G-10 FX strategist, talks to Stuart Paul, US and Canada economist at Bloomberg Economics, about the BoC and...

“You’ve come off a period of 15-plus years of a zero interest-rate policy that has allowed politicians to believe that you can spend money at no cost,” says Patrick McMahon, co-founder and CIO of MKP Capital Management, “And we continue to do that, but now in a tremendously different interest-rate environment.” In this podcast, McMahon is joined by podcast host and Bloomberg Intelligence’s Chief U...

Higher-for-longer rates, along with elevated municipal-bond issuance, may signal that attractive entry points for muni investors are here for a bit longer. Though reinvestment season is typically a slower time for new issuance, this is an election year, which may mean issuers will want to avoid the uncertainties that come with every election season. Fund flows and rich ratios are concerns, but the...

NAV finance has been at the forefront of innovation in private credit markets, seeing tremendous growth since the start of the pandemic, when private equity funds began turning to alternative sources of funding. Pierre-Antoine de Selancy, co-founder and managing partner at 17Capital, joins Bloomberg Intelligence's Noel Hebert and Sam Geier on Credit Crunch to walk through how he's seen the evoluti...

Geopolitical uncertainty is causing many developed and emerging market governments to invoke protectionist measures, and this new world order looks similar to the one that predated globalization. In this month’s episode of Bloomberg Intelligence’s EM Lens & Look-Through podcast, Cooperatieve Rabobank Cross-Asset Strategist Christian Lawrence joins BI Chief EM Fixed-Income Strategist Damian Sassowe...

Stickier inflation is here to say, and we probably aren’t returning to 2% in the near term, says Jerome Schneider, managing director and leader of short-term portfolio management and funding at PIMCO. Schneider is joined by host and Bloomberg Intelligence Chief US Interest Rate Strategist Ira Jersey and Associate US Interest Rate Strategist Will Hoffman to discuss the state of short-term liquidity...

High yield had a great 4Q rally in rates and spreads, which filtered into 1Q gains as defaults stayed low. In Europe, the index default rate stands at 0.95% and the proportion of stressed and distressed bonds has come down, while it's higher in the US. Will 2Q sustain the gains, and why? Listen to Mahesh Bhimalingam, Bloomberg Intelligence's Chief European Credit Strategist, discuss the results of...

Investigations into debtors’ pre-bankruptcy machinations are evolving toward a “consensus model” where committees of independent directors are cooperating with unsecured committees, according to Julia Winters, a partner in Katten’s commercial litigation practice. She shared her perspective on corporate governance amid financial turmoil, when Chapter 11 examiners make sense and the critical role in...

The challenges of unilateral FX intervention by the Bank of Japan may mean that a confirmed dovish Fed adjustment and/or a step-up in the BOJ tightening cycle remain the best path to address the cost-of-carry yen conundrum and take dollar-yen lower in the process, according to the latest FX Moment podcast. Host Audrey Childe-Freeman, Bloomberg Intelligence's chief G-10 FX strategist, talks to Chri...

Slowing growth and elevated interest rates are opening the door to fresh opportunities in the special situations world, as companies face growing “time under tension.” Rob Dafforn, chief investment officer of opportunistic credit at Polus Capital Management, joins Bloomberg Intelligence’s Noel Hebert and Sam Geier on this episode of Credit Crunch, part of the FICC Focus podcast. Dafforn dives into...

In this edition of All Options Considered, BI's Chief Global Derivatives Strategist Tanvir Sandhu is joined by Jennifer Welch, Chief Geo-economics Analyst. They focus on geopolitics and market volatility, with topics including the conflicts in the Middle East, oil politics and the US election.

Chairman Jerome Powell had opportunities at the May FOMC meeting to put interest rate hikes back on the table and surprisingly did not, says Ira Jersey, host and Chief US Interest Rate Strategist for Bloomberg Intelligence. On this Macro Matters edition of the FICC Focus podcast, Jersey is joined by associate US Interest Rate Strategist Will Hoffman to discuss the key takeaways from both the Feder...

Loose financial conditions are helping to alleviate short-term stability concerns, yet medium-term vulnerabilities are rising as the result of less-optimistic monetary policy expectations. In this month’s EM Lens & Look-Through podcast, Fabio Natalucci, deputy director of monetary and capital markets at the IMF, and Jason Wu, head of the IMF’s Global Markets division, join Bloomberg Intelligence C...

Inflation is holding stubbornly above the Federal Reserve’s target, throwing expectations for rate cuts into turmoil and playing havoc with housing and mortgage markets. On this Macro Matters edition of the FICC Focus podcast, host and Bloomberg Intelligence Chief US Rates Strategist Ira Jersey is joined by Erica Adelberg, BI’s chief MBS strategist, and Will Hoffman, associate US rates strategist,...

Credit markets sold off in the past month, across the board, on rate-cut delays being priced in globally, led by the Fed. It takes us to an interesting juncture where we ask if this has longer to go or is largely done, and how it affects various asset classes in its aftermath. In this episode of our Credit Crunch podcast, host Mahesh Bhimalingam, Chief European Credit Strategist at Bloomberg Intel...

Alternative investments have historically been available only to institutions and ultrahigh-net-worth individuals, but that may be changing. Yieldstreet Chief Investment Officer Ted Yarbrough says democratizing access to alternatives is the company’s mission. He joined Bloomberg Intelligence analysts Noel Hebert and Sam Geier to talk about sourcing deals, leveraging technology and the importance o...

Part of being an active manager is not only looking for assets that have an edge, are mispriced or are the next hottest thing, but also learning to avoid pitfalls and blind spots when it comes to municipal credit. In this Masters of the Muniverse episode of Bloomberg Intelligence’s FICC Focus podcast, Ben Barber, director of municipal bonds at Franklin Templeton, joins BI analysts Eric Kazatsky an...

Complexity and illiquidity are desirable features for Dan Zwirn, CEO, CIO and Co-Founder of Arena Investors. Zwirn talks about the benefits of the special situations strategy, his concern about concurrent asset bubbles, and how partnering with others can benefit the investment process. That and much more as he joins hosts Noel Hebert and Sam Geier, each of Bloomberg Intelligence, on this episode o...

The US Treasury’s liquidity-support buyback operations aren’t quantitative easing by a different name, says Bloomberg Intelligence US Rates Strategy Associate Will Hoffman. On this Macro Matters edition of the FICC Focus podcast, Hoffman joins co-host and BI’s Chief Interest Rate Strategist Ira Jersey to unpack the drivers and implications of a tumultuous two-week period for the Treasury market. T...

In our latest FX Moment podcast, Audrey Childe-Freeman, Bloomberg Intelligence chief G-10 FX strategist, and Stephen Chiu, chief Asia FX and rates strategist, reflect on navigating the G-10 and Asia foreign exchange markets in 2Q, while awaiting a shift in US economic data, Fed easing expectations and the dollar's fortunes. Audrey acknowledges recent chatter about euro-dollar parity, but doesn't e...

This edition of All Options Considered is part II of the recording of the Bloomberg Volatility Forum 2024 held in London on March 19th. This is the discussion from the second panel on zero-days-to-expiry options (0DTEs) by David Cross, Co-Head of US options at DASH Financial Technologies, Henry Schwartz VP and Global Head of Client Engagement at Cboe Global Markets, JB Mackenzie, Vice President &...

Deadlines and ensuring the right parties are at the table are two crucial ingredients for successful mediations, according to Ken Feinberg, who was the Special Master of the Federal September 11 Victim Compensation Fund and has helped administer some of the most complex public crises in American history. He discussed mass tort’s intersection with Chapter 11 with Bloomberg Intelligence Bankruptcy L...

New York City hasn’t fully recovered from the pandemic, and that leaves both the city and state concerned about future revenue to face any new economic contractions and market volatility. Thomas DiNapoli, State of New York comptroller, joins Bloomberg Intelligence’s Eric Kazatsky and co-host Karen Altamirano in this month’s bonus episode of the Masters of the Muniverse podcast to discuss aligning...

This edition of All Options Considered is the recording of part of the Bloomberg Volatility Forum 2024 held in London on March 19th. The first part is the opening speech by BI's Chief Global Derivatives Strategist Tanvir Sandhu on macro and volatility across markets. This is followed by the recording of the discussion from the first panel on VIX and option strategies by Pierre De Saab, Partner at...