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. “What you

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 Management Practi

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 look obviously

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 curve may be h

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 public markets

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 Jersey for a f

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 head of fixe

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 podcast, BI’s

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 volatility a

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 Bank of Eng

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 deteriorating US

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 afford to st

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 episode of the

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 to a trip to

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 to liquidit

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 crisis world, w

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, explaining t

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 could still del

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 Bhimalingam, Bl

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, Bloomberg Inte