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 FocusDiscussion on Cross-Asset Volatility: All Options Considered
In this edition of the All Options Considered podcast on volatility, BI's Chief Global Derivatives Strategist Tanvir Sandhu is joined by Matthew Tym, Head of…
- FICC Focus
Crossover Buyer Lifts Value Lens Hood: Masters of the Muniverse
Municipal performance through the first four months of 2023 is a semi-welcome respite from the tough 2022 that many asset managers faced. The tax-exempt market…
FICC FocusHigh Yield 2Q23 Survey and Outlook: Credit Crunch
European high yield had its first default but the proportion of stressed and distressed bonds is under control after a positive first quarter for returns. Will…
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As Inflation and Growth Concerns Collide: EM Lens & Look-Through
Deteriorating US economic fundamentals are fueling late-cycle serendipity in emerging market currencies, yet any declarations alluding to a demise in the…
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NewEdge Wealth’s Ben Emons on Global Fixed Income: Macro Matters
Bank debt may be an attractive asset class, NewEdge Wealth’s portfolio manager and head of fixed income Ben Emons tells Bloomberg Intelligence Chief US…
FICC FocusCredit Crisis Over? US vs. Europe: Credit Crunch
The banking crisis on both sides of the Atlantic has led to significant repricing and revaluation of certain instruments in credit markets. But the rally…
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Fidelity’s Van Duzer on Workouts; J&J Talc: State of Distressed
“There’s a growing trend to get in front of these names a little earlier...FOMO is alive and well in the creditor community...no one wants to find out a deal…
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Fixed Income Outlook With Amundi US’ Duensing: Macro Matters
Adding duration to fixed income portfolios will be attractive as the economy slows later this year, Amundi US’ head of fixed income Jonathan Duensing explains…
FICC FocusSwiss Focus With Valerie Lemaigre of BCGE: FX Moment
In our latest FX Moment Podcast, host Audrey Childe-Freeman, Bloomberg Intelligence (BI) chief G10 FX strategist, talks about the Swiss economy, the SNB…
FICC FocusDiscussion on Bond, FX Volatility: All Options Considered
As the error bands around the outlook widen and cycle turns bring lots of noise, directional views have become much more challenging. In this edition of the…
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Are Market Pricing Cuts Off Base? : Macro Matters
The market pricing for 2023 Federal Reserve interest rate cuts is off base, Bloomberg Economics Chief US Economist Anna Wong says on this Macro Matter’s…
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Interest Rate Volatility: Emerging Market Lens & Look-Through
Interest rate volatility remains a risk, but it’s still possible for the Fed to achieve a “softish” landing, with positive implications for the broader EM…
FICC FocusBanking Chaos and Central Bank Hikes: Credit Crunch
The inflation vs. recession debate and how that will drive Fed pause vs. pivot dynamics is casting a shadow over credit markets. Key questions include whether…
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800-Pound Gorilla ETF Bullish on Munis: Masters of the Muniverse
There’s been a sharp drop in rates across the curve, but that’s come at the expense of two bank failures and the introduction of a new depositary back-stop…
- FICC Focus
Mortgage Market Slows Down Again: Macro Matters
The supply of mortgage-backed securities remains very tight as refinancings have dried up again, Bloomberg Intelligence Mortgage Strategist Erica Adelberg says…
FICC FocusThe First Default; How Many More?: Credit Crunch
We have potentially seen the first European high yield index default (bond rated D but not yet out of the index) in nearly two years, while the proportion of…
FICC FocusSVP's Khosla Sees Growing Opportunity. BI on Seasonal Market Gains: State of Distressed Debt
Global Credit Strategy head Noel Hebert and BI distressed credit analyst Philip Brendel discuss how March may buck 2023's credit rally. Then, they have an…
FICC FocusHow Ever-Changing Narrative Shapes the Dollar Outlook: FX Moment
FX Moment podcast, host Audrey Childe-Freeman, Bloomberg Intelligence chief G-10 FX strategist, reflects on how the G10 FX narrative has evolved over the past…
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DWS' Staples on Yield Curve: Macro Matters
Interest rates could remain higher than the previous few cycles, with an upward sloping yield curve by the end of 2024, Gregory Staples, DWS Investment…
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Chinese Equities May Offer Respite During a Profit Recession: EM Lens
Fundamentally, Chinese equities stand out from global peers as the nation’s profit recession appears to be ending just as the rest of the world decelerates. In…
FICC FocusDiscussing 0DTE, CTAs, VIX: All Options Considered
The scenario of an extreme market impact from zero days to expiration options may be overstated and Commodity Trading Advisors' positive beta to equity may be…
FICC FocusHigh Grade Rally and Supply Deluge: Credit Crunch
Investment grade had a sustained good run in the past four months with spreads compressing all the way combined with bumper supply in the new year. How long…
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Muni SMA Juggernaut Gives Their Take on How 2023 Shapes Up: Masters of the Muniverse
In this month's Masters of the Muniverse, Eric Kazatsky and co-host Karen Altamirano are joined by Adam Stern, the co-head of research at Breckinridge Capital…
FICC FocusHigh Yield 1Q Survey and Outlook: Credit Crunch
The European high yield default rate remains at zero, and the proportion of stressed and distressed bonds continues to fall given a long rally. How long will…
FICC FocusMark Andersen of UBS AG, What now for the dollar?: FX Moment
In our latest FX Moment Podcast, host Audrey Childe-Freeman, Bloomberg Intelligence (BI) Chief G10 FX Strategist, talks currency prospects with Mark Andersen…
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US, UK, EUR Rates Markets: Macro Matters
Short maturity government bond yields in Europe and the US may move somewhat high in the near term, according to Bloomberg Intelligence. In this Macro Matters…
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King Street's Goldschmid Talks Shop, J&J's 3rd Circuit Loss
"It takes a long time to slow things down, especially when you’ve just pumped $2.5 trillion of monetary stimulus into the economy," Paul Goldschmid, partner &…
FICC FocusPreparing for Landing: All Options Considered
In this edition of the All Options Considered podcast on volatility, BI's Chief Global Derivatives Strategist Tanvir Sandhu discusses the key themes from the…
- FICC Focus
Last Year’s Laggards Are This Year’s Leaders: EM Lens
In this month's EM Lens & Look-Through podcast, BI Chief EM Fixed Income Strategist Damian Sassower is joined by Sergey Goncharov, Emerging Market Portfolio…
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Remote Work Prophet Comes to Muniland: Masters of the Muniverse
On this month's Masters of the Muniverse, Eric Kazatsky and co-host Karen Altamirano are joined by Stanford University Professor and "Prophet of Remote Work,"…
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Brown Rudnick's Stark on Bankruptcy Playbook: State of Distressed Debt
Global Credit Strategy head Noel Hebert and BI distressed credit analyst Philip Brendel discuss distressed debt’s awful 2022 performance and what’s next. Then…
FICC FocusLeveraged Loan Outlook and Review: Credit Crunch
CLOs are driving loan supply and in our second Credit Crunch podcast, host Mahesh Bhimalingam, Chief European Credit Strategist at Bloomberg Intelligence, and…
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DM Rates Outlook: Macro Matters
Developed market central banks continue to fight inflation, but are at different points in tightening monetary policy. The Federal Reserve and Bank of England…
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ECB and BOE Credit QT Scope and Impact: Credit Crunch
In our inaugural Credit Crunch podcast, host Mahesh Bhimalingam, Bloomberg Intelligence Chief European Credit Strategist and Heema Patel, Credit Strategy…
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Quant Modeling: Macro Matters
Quantitative modeling is an ever growing component of financial analysis, with most investors using some form of it within their investment processes. In this…
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There Are Views Outside Dollar Bearish Box in 2023: FX Moment
In our latest FX Moment podcast, host Audrey Childe-Freeman, Bloomberg Intelligence chief G-10 FX strategist, Chief Asia FX and rates strategist Stephen Chiu…
- FICC Focus
All Options Considered End-of-Year Episode: All Options Considered
In this edition of the All Options Considered podcast on volatility, BI's Chief Global Derivatives Strategist Tanvir Sandhu discusses the key themes from the…
- FICC Focus
Big Banks Think 2023 Muniland Rebounds: Masters of the Muniverse
On this month's Masters of the Muniverse Eric Kazatsky and co-host Karen Altamirano are joined by three local men who have differing takes on the municipal…
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Dec. Fed Plus MBS Deep Dive: Macro Matters
The market will eventually believe that the Federal Reserve's "Put" is further out of the money meaning the central bank may keep the federal funds rate at the…
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Fundamentally Triggered, EM Rally Fueled By Repositioning: EM Lens
In this month's EM Lens & Look-Through podcast, BI Chief EM Fixed Income Strategist Damian Sassower is joined by Christian Lawrence, Head of Cross-Asset…
- FICC Focus
Mark Shapiro on FTX, After Living Lehman & Distress Round-Up: State of Distressed Debt
“End of the day, there was a 45-cent recovery to unsecured creditors of Lehman. Do you think that’s going to happen here [with FTX]?...It’s apples and oranges…
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Bloomberg Aggregate Index Outlook: Macro Matters
Treasury yields may fall further by the end of 2023, leading to positive returns for the Bloomberg Aggregate Index overall, according to Bloomberg…
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2023 Evolving FX Drivers and Losing US Dollar Appeal: FX Moment
In our latest FX Moment podcast, host Audrey Childe-Freeman, Bloomberg Intelligence (BI) chief G10 FX strategist, along with chief Asia FX and rates strategist…
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Munis Fight Regulation and Change: Masters of the Muniverse
On this month's Masters of the Muniverse, Eric Kazatsky and co-host Amanda Albright are joined by the Municipal Securities Rulemaking Boards; President and…
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UK Economic Outlook, Bond Market Volatility: All Options Considered
In this edition of the All Options Considered podcast, BI's Chief Global Derivatives Strategist Tanvir Sandhu is joined by Dan Hanson, BE's Senior UK…
- FICC Focus
Goldman’s 2023 Rate Call: Macro Matters
“We are certainly not talking about six or seven percent [federal funds target rate, but]... modestly above 5%,” Goldman Sachs Chief Interest Rate Strategist…
- FICC Focus
Structural Bulls or Sluggish Bears? Trend Reversal Lifts All EM Boats: EM Lens
FICC Focus offers the latest market views on interest rates, corporate bonds, emerging-market debt, commodities and currencies by Bloomberg Intelligence…
- FICC Focus
The Path to a Euro-Dollar Recovery: FX Moment
In our latest FX Moment podcast, host Audrey Childe-Freeman, Bloomberg Intelligence (BI) chief G10 FX strategist, along with chief Asia FX and rates strategist…
- FICC Focus
Fed’s What Next: Macro Matters
“Powell did a masterful job in neutralizing the market rally from [after the Federal Reserve] put out its statement. I think Powell did what he needed to in…
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Prof. Jacoby on Mass Torts & Bankruptcy, Distressed's Slow Climb: State of Distressed Debt
With distressed supply settling back following a test of June’s highs, Bloomberg Intelligence expects it may consolidate a bit between $100-$150 billion as…
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Hybrids Plummet, Private Credit Booms, Pensions Dive: Credit Chat
Hybrids have significantly underperformed in 2022 and now trade wider than their high yield brethren, a trend that could extend into 2023. Private credit…
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UK Bond Volatility, Crypto to Housing Market: All Options Considered
In this edition of the All Options Considered podcast on volatility, BI's Chief Global Derivatives Strategist Tanvir Sandhu is joined by Professor Gregory…
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EM Currencies Battle, But China Still Elephant in Room: EM Lens
In this month's EM Lens & Look-Through podcast, BI Chief EM Fixed Income Strategist Damian Sassower is joined by Rohit Goel, Director of Macro Research at…
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TIPS and Inflation-Linked Securities: Macro Matters
“There is significant interest rate risk in TIPS in ETFs and Mutual Funds because they can’t necessarily get enough leverage to do a break-even trade,”…
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US Pension Fund Investing: Macro Matters
"Who would have thought LDI would be in the popular press in my whole career?" says David Eichhorn, CEO of NISA Investment Advisors on this edition of the FICC…
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Tough Year of Returns: Masters of the Muniverse
Jonathan Mondillo, head of North American fixed income at Abrdn Plc, talks about his outlook for state and local debt after a rough 2022.
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Global Financial Crisis Part Deux? Unlikely: Credit Chat
Global banks are much better positioned from a capital and liquidity perspective than they were heading into the 2008 financial crisis, yet pockets of concern…
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How Close Are We to a US Dollar Turnaround?: FX Moment
In our latest FX Moment Podcast, the host, Bloomberg Intelligence (BI) Chief G10 FX Strategist Audrey Childe-Freeman, along with Chief Asia FX and Rates…
- FICC Focus
Canyon's Todd Lemkin, Distressed Surging, & Cine-Worry: State of Distressed Debt
Global Credit Strategy head Noel Hebert and BI distressed credit analyst Philip Brendel discuss September’s rise in distressed supply amid a dearth of risk…
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US Infrastructure with Henry Cisneros: Masters of the Muniverse
Amanda Albright and Eric Kazatsky are joined by Henry Cisneros, Chairman of American Triple I Partners, to talk about US infrastructure and why Cisneros sees a…