Shows / FICC Focus
FICC Focus
FICC Focus offers the latest market views on interest rates, corporate bonds, emerging market debt, commodities, and currencies by Bloomberg Intelligence analysts.
Episodes
- FICC Focus
Macro Matters: BNY’s Velis on Fed Policy, Curves and the Dollar
With markets questioning how much further the Federal Reserve will tighten, the path of short-term rates may matter more for the yield curve than persistent…
- FICC Focus
FX Moment: Sterling’s Fiscal Hurdle Cleared, Moving On to BOE
The UK’s “low-key fiscal event” budget means a fading fiscal premium, for now, and a focus on sterling’s carry appeal as the first BOE rate rise in the cycle…
- FICC Focus
Macro Matters: Northern Trust’s Bahuguna on AI and Equities
With stronger nominal growth, persistent inflation and an AI-driven investment boom reshaping the macro backdrop, investors may need to rethink traditional…
- FICC Focus
Credit Crunch: PGIM Credit’s Peters on Convergence, Crowding Out
“The idea of patient capital is something of a dinosaur,” says Greg Peters, co-CIO for PGIM Credit, on the speed with which markets can reprice. “The rise of…
- FICC Focus
All Options Considered: Is 100 High for Rates Volatility?
In this edition of All Options Considered, BI Chief Global Derivatives Strategist Tanvir Sandhu discusses why US rates volatility has risen from its early-2026…
- FICC Focus
Credit Crunch: Waterfall’s Cuby on ABF and the European Consumer
“We’re credit guys,” says James Cuby, partner and head of Europe for Waterfall Asset Management, when discussing asset selection and the right risk-return…
- FICC Focus
Macro Matters: Buckler’s Lazar on Repo, Clearing and the Fed
With repo markets functioning smoothly but major structural changes approaching, investors are focused on funding conditions, Federal Reserve liquidity and the…
- FICC Focus
Credit Crunch: Around the World of Global Credit in 60 Minutes
Global credit markets have stayed relatively calm through wars and sovereign crises like the one in France, despite swings in rates, making strategic insights…
- FICC Focus
Masters of the Muniverse: Why Boring Munis Have Rarely Paid More
Looking across 200 years of history to the AI-driven energy boom, there’s a case that munis haven’t looked this good in a long time. On this episode of Masters…
- FICC Focus
FX Moment: Structural Yuan Bull Run vs Unsolved Yen Bull Puzzle
In this episode of the FX Moment podcast, recorded in Hong Kong, Bloomberg Intelligence Chief FX Strategist Audrey Childe-Freeman and Gary Ng, Senior Economist…
- FICC Focus
Macro Matters: Wellington’s Medeiros on the Fed and 2027 Risks
With nominal GDP running above 6% year to date and earnings season kicking off, Mike Medeiros, macro strategist at Wellington Management, explains why…
- FICC Focus
State of Distressed: Bloomberg’s Diaz-Matos on LME Whack-a-Mole
“Even when you think you’ve patched the last three holes ... what does it matter that you actually blocked one, two, and three if the company can still get…
- FICC Focus
Macro Matters: Pimco’s Clarida on Fed Policy and Balance Sheet
With the Federal Reserve confronting persistent inflation, strong demand and questions about how much further rates may need to rise, investors are also…
- FICC Focus
Credit Crunch: Investor Survey 4Q - Rate Bears Hoard Rally Cash
Credit and high yield are in the red for the year after a two-month selloff. Will 4Q deliver gains or more losses, and why? On this episode of the Credit…
- FICC Focus
FICC Focus Special: Barings' Slaven Is Cautious on Complexity
Asset allocators should prepare for continued bouts of volatility, as negative asymmetry in market fundamentals, valuations and technicals is causing investors…
- FICC Focus
Macro Matters: Rabobank’s Lawrence on Rates and Global Markets
With global bond yields at multi-decade highs and markets pricing further central-bank tightening, investors are reassessing the relative value of rates…
- FICC Focus
Credit Crunch: Ellington’s Vranos on MBS Innovation and Alpha
“You want to buy the security based on this yield, but you have to protect against the risks,” says Mike Vranos, CEO and founder of Ellington Management Group…
- FICC Focus
State of Distressed: Latham’s Sobolewski on Evolving LME Tactics
“’Co-op first, ask questions later’ is down a bit from its peak, though not dead,” observes John Sobolewski, Global Chair of Latham & Watkins’ Liability…
- FICC Focus
Macro Matters: Rockefeller’s Chang on AI, Rates and Bond Markets
With AI investment accelerating, energy costs rising and Treasury yields pushing to multi-decade highs, investors are confronting a market where few assets…
- FICC Focus
Macro Matters: Post-Fed Thoughts From BI Rates Strategist Jersey
With the Federal Reserve beginning a new tightening cycle and markets pricing additional rate increases, investors are reassessing where the Treasury yield…
- FICC Focus
Credit Crunch: Manulife’s Purdie on AI, ESG and Relative Value
“We want to encourage risk-taking, but we want to encourage the right type of risk-taking, which is informed risk-taking,” says Colin Purdie, global CIO of…
- FICC Focus
FX Moment: The Fed Meeting & What It Means for Bonds, the Dollar
In this episode of the FX Moment podcast, Bloomberg Intelligence Chief FX Strategist Audrey Childe-Freeman talks to BI’s Chief Interest Rate Strategist Ira…
- FICC Focus
Macro Matters: Insight Investment’s Murphy on Fixed Income
The angst, consternation and hand-wringing over debt levels may be a contrarian indicator that rate markets are oversold, says Brendan Murphy, North American…
- FICC Focus
All Options Considered: Bond Volatility, USD/JPY and Gas Tail Risk
Cross-asset volatility has declined over summer even though the path of resistance for yields has been higher. In this edition of the All Options Considered…
- FICC Focus
EM Lens: Global X’s Dorson Shines Spotlight on EM Equities, FX
Emerging market equities have outperformed the S&P 500 by over 14% over the past year, as investors take advantage of attractive valuations, falling currency…
- FICC Focus
Macro Matters: Barclays’ Meaning on UK Rates, Inflation, Growth
With the latest energy shock pushing UK inflation higher while economic growth remains subdued, investors are questioning whether markets have priced too much…
- FICC Focus
EM Lens: Sandglass’ Lozovsky Reinforces Bullish EM Narrative
Emerging market fund flows are accelerating as credit fundamentals continue to improve amid historically loose financial conditions, wide real yields and…
- FICC Focus
Macro Matters: MetLife’s Matus on Fed Policy, AI and Markets
With US growth holding up and inflation still running above target, investors are weighing whether the Federal Reserve needs to tighten policy further or can…
- FICC Focus
Credit Crunch: Around the World of Global Credit in 60 Minutes
Global credit markets have stayed relatively calm through war and peace, despite swings in the rates markets, making strategic insights essential. In this…
- FICC Focus
State of Distressed: Burian, Stark on the Preordained Bankruptcy
To demonstrate how the modern bankruptcy system often feels prepackaged and inevitable, Brown Rudnick’s Robert Stark compares the current state of Chapter 11…
- FICC Focus
Macro Matters: Mariner CIO E.G. Fisher on Liquidity and Credit
With the Federal Reserve leaning toward a smaller balance sheet and several year-end funding pressures approaching, investors may need to pay closer attention…
- FICC Focus
Masters of the Muniverse: JPMorgan and the Muni SMA Revolution
Municipal separately managed accounts (SMAs) have exploded 16-fold in market share, becoming a predominant investment vehicle in the post-global financial…
- FICC Focus
Credit Crunch: Barings’ Yan on Outlook for Portfolio Finance
“The pace and trajectory of private-market growth has simply outpaced the growth of bank balance sheets,” says Dadong Yan, head of Barings Portfolio Finance…
- FICC Focus
Macro Matters: US Economic Outlook With Natixis’ Hodge
Cooling inflation and a softer labor market are giving the Federal Reserve more room to remain patient, even as investors debate whether Kevin Warsh’s Fed…
- FICC Focus
Credit Crunch: New Fed Watch as Rates, Not Spreads Drive Credit
Rates and the new Fed are at the forefront of market headlines amid wide government bond yields. In this episode of the Credit Crunch podcast, host Mahesh…
- FICC Focus
All Options Considered: Lessons From Korea’s ETF Volatility
South Korea has become a real-world case study in how market concentration, investor enthusiasm and leveraged ETFs can amplify volatility. In this episode…
- FICC Focus
Credit Crunch: Principal’s Goosay on Credit Relative Value Setup
“We’ve gotten a little addicted post-2008 to the Fed guiding us,” says Michael Goosay, CIO and global head of fixed income for Principal Asset Management…
- FICC Focus
EM Lens: GMO’s Courmes Steers EM Local Bond Bulls
Emerging market local-currency government debt deserves a prominent place in global fixed income portfolios, as economic fundamentals remain resilient and the…
- FICC Focus
Macro Matters: Invesco’s Brignac on Liquidity, Fed Balance Sheet
With the change in leadership at the Federal Reserve, investors are paying greater-than-usual attention to the outlook for short-term funding markets…
- FICC Focus
FX Moment: Dollar-Yen Bearish Push Needs US Data Validation Next
In this episode of the FX Moment podcast, Bloomberg Intelligence Chief FX Strategist Audrey Childe-Freeman and Chris Turner, head of FX strategy at ING Bank in…
- FICC Focus
Credit Crunch: Park Square’s Doumar on Junior Debt and BDC Angst
“In the US today, what you see is... capital leaving the system out of the BDCs, and that’s creating a lot of technical pressure on the market,” says Robin…
- FICC Focus
Macro Matters: BE’s Anna Wong on Warsh and Fed Communication
Kevin Warsh’s new communications approach may be creating more uncertainty for markets, not less. Anna Wong, Bloomberg Economics chief US economist, joins Ira…
- FICC Focus
EM Lens: Identifying Alpha Opportunities in EM Equities
Emerging market equities are among this year’s top-performing asset classes globally as investors benefit from strengthening fundamentals, diminishing…
- FICC Focus
Credit Crunch: Bright Meadow’s Rilander on MBS, Housing Policy
“There are a lot of people who would love to give away their prepayment option to get their family into the home they want,” says Adam Rilander, CIO and head…
- FICC Focus
Macro Matters: Invesco’s Levitt on Equities, Rates and Oil
Oil volatility and renewed geopolitical risk have complicated what had looked like a supportive backdrop for risk assets in 2026. Brian Levitt, Invesco’s chief…
- FICC Focus
EM Lens: William Blair’s Assalin Remains Bullish on EM Outlook
Emerging market hard-currency credit continues to outperform most major fixed-income asset classes, yet it also offers a wide range of tactical and relative…
- FICC Focus
Macro Matters: BI’s Adelberg on Housing, MBS and Prepay Risk
Housing affordability, mortgage-market modernization and changing refinance behavior are reshaping the outlook for mortgage-backed securities. Erica Adelberg…
- FICC Focus
All Options Considered: Equity Derivatives With Susquehanna
On the face of it, index volatility has remained relatively subdued, but underneath there is significant rotation and elevated single-stock volatility. In this…
- FICC Focus
Credit Crunch: Xponance’s McElreath on Credit Inefficiencies
“The portfolio manager’s dilemma is, ‘Do I take risk, or do I not take risk?’” Noel McElreath, senior portfolio manager for US fixed income at Xponance, tells…
- FICC Focus
State of Distressed Debt: C Street CEO Henes on Board Dynamics
To illustrate how uniquely challenging the restructuring experience is for the unacquainted, C Street Advisory Group founder and CEO Jon Henes recalled a…
- FICC Focus
Macro Matters: Stanford’s Duffie on Fed Balance-Sheet Limits
Darrell Duffie, the Adams Distinguished Professor of Management and Finance at Stanford Graduate School of Business, joins Bloomberg Intelligence’s Ira Jersey…
- FICC Focus
FX Moment: US Fundamentals Set Up Early 2H Dollar Revival
In this episode of FX Moment, Bloomberg Intelligence Chief FX Strategist Audrey Childe-Freeman and Win Thin, chief economist at Bank of Nassau 1982 Limited…
- FICC Focus
Credit Crunch: Investor Survey 3Q - Rates, IG vs. HY, US vs. EU
Credit and high yield recovered all losses due to the Iran war in 2Q. Will 3Q keep delivering gains, and why? Mahesh Bhimalingam, Bloomberg Intelligence global…
- FICC Focus
Credit Crunch: Wellington’s Fitzgerald on Convexity Over Carry
“When you just think about the distribution of outcomes on corporate bonds from these levels of spreads, the cost of getting a few of them wrong can wipe out a…
- FICC Focus
Credit Crunch: Around the World of Global Credit in 60 Minutes
Global credit markets swung through war and peace, making strategic insights essential for the second half of the year. Bloomberg Intelligence’s credit…
- FICC Focus
Macro Matters: Huw Worthington on ECB, Gilts and Rate Outlook
Bloomberg Intelligence Chief European Rates Strategist Huw Worthington joins Ira Jersey on this Macro Matters edition of the FICC Focus podcast to discuss the…
- FICC Focus
Credit Crunch: BlackRock’s Rosenberg on Systematic, AI Impacts
“LLMs give us the opportunity to kind of rethink how much expected skill we can get out of our tools and techniques,” says Jeffrey Rosenberg, managing director…
- FICC Focus
EM Lens: Credit Index Futures Can Improve EM Balance Sheets
Emerging market credit index futures improve liquidity and balance-sheet efficiency, yet they also open the door to a wider range of tactical and…
- FICC Focus
Macro Matters: BE’s Anna Wong on Warsh, Fed & Inflation Outlook
With Kevin Warsh’s first meeting as Federal Reserve chair behind him, the discourse can move to what it signals for monetary policy. Bloomberg Economics Chief…
- FICC Focus
All Options Considered: Volatility Forum Singapore 2026
This edition of the All Options Considered podcast features a recording from the Bloomberg Volatility Forum held in Singapore on June 3. Bloomberg…