TCW Investment Perspectives

The telltale signs of the U.S. sliding into a recession have ripped through global markets, with bond yields vacillating amid a broad repricing of frothy stock valuations. Listen to TCW's fixed income experts as they discuss the Federal Reserve's option to call an emergency meeting, aggressive policy measures to halt market hemorrhaging, and whether we're facing a new global financial crisis. Davi...

As the left-wing secures an unexpected win in France and the Labour Party reclaims Downing Street in the UK, host Anisha Goodly sits down with TCW Global Rates Strategist Nick Verdi and EM Sovereign Research Head Blaise Antin to discuss the resulting market impact, potential  fiscal challenges, along with implications for bond and currency investors.

The bond market's early optimism for rate cuts during the first half of the year has given way to volatile trading and climbing yields. Host Patrick Moore is joined by Co-Heads of Global Rates Jamie Patton and Bret Barker to examine how the U.S. Treasury has become a key player in the fiscal battle to revive the economy.

With concerns about an economic slowdown, TCW has taken a defensive positioning across strategies. On this week's Focus on Fixed Income podcast, Host David Vick discusses compelling long-term opportunities with Co-Head of Global Securitized Peter Van Gelderen and Co-Head of Global Credit Brian Gelfand.

The Emerging Markets opportunity has transformed from one of convergence with the developed world to one of strategic importance and diversification. The de-risking of supply chains and the resulting regionalization of trade, the strategic demand for base metals to fuel the climate transition and the growth of AI, the structural growth of the EM middle class, and the demographic challenges facing...

TCW's Head of Retail Distribution Keith VanOrden speaks with TCW’s Global Head of Sustainable Investment Jamie Franco about the “challenging conversation” around Environmental Social Governance investing as the industry rebrands following political criticism, and how ESG evolved to focus on identifying companies where strategies in areas like energy efficiency and carbon accounting are enhancing p...

Issuance of asset-backed securities has boomed over the past year. Is this an expansion of the opportunity set, or an example of late-cycle behavior?  TCW Co-Head of Global Securitized Peter Van Gelderen and Senior Securitized Analyst Dom Bea discuss the drivers of growth in issuance and which areas of the market they view as compelling. 

As European policymakers prepare to diverge from the Federal Reserve by cutting interest rates,  Corporate Credit Trader Mike Carrion and Senior Credit Analyst Ross Higgins discuss how this widening gap between U.S. and European monetary policy is impacting credit markets on both sides of the Atlantic with effects on real estate valuations, corporate leverage, and energy transition.

The IMF’s annual spring conference was punctuated by geopolitical and economic threats globally, and in this episode of TCW’’s “Investment Perspectives” Senior Sovereign Analyst Brett Rowley and Head of Sovereign Research Blaise Antin reveal the key takeaways to Anisha Goodly about what’s facing investors as we head to the midway point of 2024.

On this week’s edition of “Focus On Fixed Income” TCW’s Jerry Cudzil discusses investment opportunities within the commercial real estate market with guests Liza Crawford and Peter Van Gelderen who explain where the value is after the pandemic disrupted office space and retail centers.

The market had a historically strong year in 2023, fueled to a large degree by tech stocks and Artificial Intelligence stocks in particular. AI is continuing to attract a lot of attention as an investment theme– leaving some wondering if 2024 is too late to start investing in the theme. In the latest episode of the TCW Investment Perspectives Podcast, Michael Reilly, Chief Investment Officer of TC...

Bond covenants are critically important protection for investors. Generalist Portfolio Manager Jerry Cudzil and Co-Head of Global Credit Steve Purdy discuss the weakening of those covenants over the past several years and how that trend is having a real impact on investors and outcomes.

RECORDED IN SPANISH. TRANSCRIPT AVAILABLE IN ENGLISH. Bonos verdes, sociales, sostenibles y otros instrumentos de deuda orientados a la sostenibilidad juegan un papel importante para los mercados de renta fija en América Latina y el Caribe. Cindy Paladines, nuestra analista senior de inversiones sostenibles, conversa con Mauro Roca, nuestro analista senior de la región, y Andrés Sanches, el líder...

As central banks worldwide prepare to lower interest rates in tandem with the Fed's dovish shift, TCW's experts from London to New York to Los Angeles share insights on strategic fixed-income moves and contingency plans should the U.S. pull an about-face.

Jae Lee breaks down global currency plays with Anisha Goodly, saying even delayed interest rate cuts by the Federal Reserve won’t provide much lift for an already overvalued dollar.

Rick Miller sits down with Will Lloyd to dissect the meteoric rise of the direct lending market, exploring whether a potential downturn may present an opportunity to scoop up distressed assets at attractive valuations.

Tune in to the premiere episode of 'Focused on Fixed Income,' where TCW provides high-level analysis on the forces driving bond and credit markets. Bryan Whalen and Tammy Karp sit down with David Vick to dissect lingering economic headwinds as the Federal Reserve convenes crucial meetings on interest rates.

Bo Fifer and Matthew Lowe sit down with Michael Reilly to discuss how the booming artificial intelligence space may have a big impact streamlining the $4.7 trillion U.S. healthcare industry.

Before embarking on a multi-country trip to meet Middle East finance ministers, Brett Rowley sits down with Anisha Goodly to explore economic consequences Israel's conflict in Gaza has on the region.

Penny Foley and David Robbins, co-heads of emerging markets for fixed income strategies, sat down with Anisha Goodly to discuss their outlook for 2024. Their constructive view is based upon a combination of better growth dynamics in EM relative to Developed Markets, improving inflation globally, reduced U.S. rates volatility and attractive valuations relative to history.

Following a recent trip to China, Dave Loevinger sits down with Anisha Goodly to discuss observations on the country's growth drivers, updates on U.S.-China relations, and expectations for the year ahead.

Jamie Franco and Cindy Paladines discuss main takeaways from Climate Week NYC and the roundtable TCW hosted with the Institute for International Finance (IIF), "Next Steps Blended Finance in Emerging Markets."  This episode covers investment themes around climate transition, risks and opportunities associated with decarbonization, and climate finance in emerging markets. 

Drew Sweeney and Ken Toshima discuss the recent pick up in default rates and downgrades in leveraged loans, reflecting a clear stress on smaller corporate borrowers stemming from interest rate hikes, and where we think the credit markets are headed.

Anisha Goodly and Jae Lee discuss the effects of volatility in EM Local Currency and where TCW expects to find growth as we near the end of interest rates hiking cycles.