FICC Focus

FICC Focus offers the latest market views on interest rates, corporate bonds, emerging market debt, commodities and currencies by Bloomberg Intelligence analysts. 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 o...

Political partisanship in Congress will remain wide, which could cause government shutdowns and another debt-ceiling crisis in late 2023, according to Bloomberg Intelligence. In this Macro Matters edition of the FICC Focus Podcast, BI Chief US Interest Rate Strategist Ira Jersey is joined by BI Government Analyst Nathan Dean as the two discuss the upcoming midterm congressional elections, the fede...

In our fifth FX Moment edition, the host, Bloomberg Intelligence (BI) Chief G10 FX Strategist Audrey Childe-Freeman discusses China's current cyclical conundrum, the PBOC outlook and currency implications with Chief Asia FX and Rates Strategist Stephen Chiu. While the weakening Chinese growth dynamics leave the yuan exposed near-term, it does not alter Stephen's more constructive long-term outlook...

A 2H recovery may not be the rising tide that lifts all boats as recession, inflation and remaining Covid-19-lockdown risks disproportionately have a negative impact across pockets of health care providers, Macau gaming operations and European consumer and beverage debt issuers. Our global Bloomberg Intelligence team’s analysis suggests competitive pressures may further push Weight Watchers spread...

The financial services industry has been challenged for years with firms having to navigate the global pandemic and remote work, all while dealing with legacy battles such as fee compression, customer retention and talent recruitment. To that last point, starting a new role during the pandemic is a difficult task for some. Starting a new role as CEO is even more challenging. On this month's Master...

If the market prices out Federal Reserve interest rate cuts in 2023, Bloomberg Intelligence’s Chief US Interest Rate Strategist Ira Jersey thinks that could be enough for the Treasury yield curve to invert more than it has in 40 years. In this Macro Matters edition of the FICC Focus Podcast, host Jersey is joined by Angelo Manolatos, BI US and Canadian Rates Strategist. Manolatos reviews some deta...

Global Credit Strategy head Noel Hebert discusses with BI distressed credit analyst Philip Brendel the first up month for distressed in 2022. Bloomberg distressed debt reporter Eliza Ronalds-Hannon joins the call to present the interview she and Brendel conducted with Bill Derrough, Moelis & Company's Global Co-Head of the Capital Structure Advisory (6:07). BI bankruptcy litigation analyst Negisa...

If Bloomberg Economics is right at the Federal Reserve hikes to 5%, the two-year Treasury yield should be near 4% and the Treasury yield curve would be more inverted, notes Bloomberg Intelligence. In this Macro Matters edition of the FICC Focus Podcast, host and BI Chief US Interest Rate Strategist Ira Jersey is joined by Anna Wong, Chief US Economist for Bloomberg Economics and Angelo Manolatos,...

In this second edition of All Options Considered, BI's Chief Global Derivatives Strategist Tanvir Sandhu is joined by Bloomberg radio host Caroline Hepker and Co-Head of Derivatives Strategy at Susquehanna International Group, Chris Murphy, to discuss the latest developments in the volatility landscape of the bond market to S&P 500 and Bitcoin.

In this Credit Chat edition, Joel Levington, Global Head of Credit Research, Daniel Fan, Senior China Real Estate Analyst and Pri De Silva, Senior Asia Financial Institutions Analyst join Robert Schiffman to share their views on downgrade recession risk for US industrials, the impact of potential “boycotts” on China property value and limited financial risk for the Chinese banking system. A slowdo...

In this edition of Masters of the Muniverse Eric Kazatsky and Amanda Albright are joined by New York State Comptroller, Thomas Dinapoli. We cover such topics as the recovery of the State and New York City from the worst of the pandemic, tackling pension returns in a volatile environment, challenges ahead for State finances and the debate over best baseball teams.

In our fourth 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 the topic of FX valuation, with particular interest on whether the U.S. Dollar may be overvalued. Our FX Strategists look into their updated BEER, fair value model and assess whether the dollar may be overvalued vs its G10 peers.

The yield curves in the US and Canadian dollar could invert more than any cycle since the early 1980s and the German government curve might not invert at all, according to Bloomberg Intelligence Strategists. In this Macro Matters edition, host and BI Chief US Interest Rate Strategist Ira Jersey is joined by Huw Worthington, BI Chief European Rates Strategist and Angelo Manolatos, BI US and Canadia...

In this 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 and Bloomberg ESG Index head Chris Hackel. Sassower and Jersey discuss the BI FICC Strategy team’s return forecasts for the next year, which appear in their note Don't Sleep on 60-40 as Fixed Income Return Forecasts Rebound. The research incl...

In this month's EM Lens & Look-Through podcast, host and BI Chief EM Fixed Income Strategist Damian Sassower is joined by Cate Ambrose, Chief Executive Officer of the Global Private Capital Association. Ambrose shares her outlook for EM private equity, with a focus on the sectors, countries and opportunities capturing interest from institutional investors across the globe.

In this State of Distressed Debt edition, BI distressed credit analyst Philip Brendel, and Global Credit Strategy head Noel Hebert discuss the ongoing surge in distressed debt and how long it may last; Marathon Asset Management's Bruce Richards shares his distressed market views with Bloomberg News distressed debt reporter Eliza Ronalds-Hannon (6:30); Phil, Noel, and Eliza are then joined by BI ba...

SPECIAL EPISODE | Risk of a U.S. recession is growing more likely, with the potential to impact valuations across EM asset classes. As Fed tightening, China lock-downs and the war in Ukraine collide, who is best positioned and why? How has the risk of contagion evolved across EM and how do you expect policy makers to respond? Join industry leaders from Goldman Sachs, J.P. Morgan, Citigroup, Bank o...

SPECIAL EPISODE | After nearly four decades of dormant inflation, EM economies must now contend with rising price pressures and the possibility that they may take longer to dissipate than initially anticipated. What is the impact of higher interest rates on market structure and liquidity? Is a more persistent inflationary impulse causing creditors to adjust their investment timelines? Join industr...

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 woul...

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, r...