Global Rates: ECB, Cross-Market Views and UK Politics Update
In this episode of At Any Rate, JPMorgan’s European Rates Strategy head Francis Diamond and colleagues Kigenja Gupta and Aditya Chaudhia examine the Eurozone rate outlook ahead of the June ECB meeting, noting that a 25‑bp hike is fully priced and that the ECB will likely signal a data‑dependent, cautious path without committing to a full 70‑75 bp tightening cycle. They discuss cross‑market opportunities, highlighting a modest bias to overweight German bonds versus U.S. Treasuries due to attractive valuations and a 10‑year Euro‑U.S. spread that remains slightly tight. The team also reviews seasonal dynamics in German swap spreads, advising patience and a neutral stance until spreads narrow further. Finally, they assess UK political developments, concluding that recent Labour by‑election polls have had little impact on gilt yields, which are driven more by global energy price shocks than domestic politics.
EM Fixed Income: EM Resilience Amid Renewed USD Strength and Idiosyncratic Pitfalls
The episode examines the resilience of emerging‑market (EM) sovereign credit amid a backdrop of stronger U.S. dollar strength, higher global rates, and lingering inflation pressures. JPMorgan strategists Ben Ramsey, Ineska Kristovova, and Nishan Pujari discuss how robust growth in many...
Why China Keeps Selling U.S. Treasuries
In this episode of China Decode, hosts Alice Han and James King examine three major stories: the stalled Power of Siberia 2 gas pipeline linking Russia and China, China’s large‑scale sell‑off of U.S. Treasury securities, and the debut of the world’s...
Macro Matters: DWS’ Catrambone on Long-End Selloff, Warsh Fed
In this episode of Macro Matters, Bloomberg Intelligence’s Ira Jersey talks with George Katchenbohn, Head of Fixed Income for the Americas at DWS Group, about the recent surge in long‑term U.S. Treasury yields, now above 5% on the 30‑year, and...
Sanjac Alpha's Wells: Interest Rates Will Rise This Year, Even if the Fed Cuts
In this episode, host Chuck Jaffe talks with three experts—Martha Moore on the NABE Business Conditions Survey, Matt Harris on market technicals, and Andy Wells, CIO of Sanjak Alpha—about the current economic landscape. The discussion highlights rising input costs from...
Justice for Covered Bonds (and Securitization)
The episode examines recent EU regulatory proposals affecting covered bonds and securitisation, highlighting the European Parliament’s approval of a 5% risk‑weighting for senior STS securitisation tranches while rejecting a similar reduction for AA‑ rated covered bonds. Panelists discuss the covered‑bond...
EM Fixed Income: Parsing Peace Talks and Payrolls
In this episode of Emerging Market Fixed Income, JPMorgan strategists Aneska Christovova, Ben Ramsey, and Tanya Escobedo dissect the latest Middle East cease‑fire talks, U.S. non‑farm payroll data, and their ripple effects across EM FX, sovereign credit spreads, and local...
Macro Matters: BI’s Ira Jersey Talks Fed & US Rates Outlook
In this 11‑minute Macro Matters episode, Bloomberg Intelligence chief interest‑rate strategist Ira Jersey outlines the Fed’s likely stance over the next two to six months, predicting a hold on policy through at least September and noting the difficulty of cutting...
Paying for Results - World Bank on Outcome Bonds
In this episode of ESG Currents, Bloomberg Intelligence hosts Melanie Rua and Chris Raddy discuss outcome bonds—financial instruments that tie repayment to the achievement of specific environmental or social results. World Bank Vice President Jorge Familiar explains how the market...
Hard Lessons: Rick Rieder
In this Hard Lessons episode, Morgan Stanley’s chief economist Seth Carpenter interviews Rick Rieder, BlackRock’s CIO of Global Fixed Income and head of the Global Allocation Investment Team, who oversees roughly $3 trillion in assets. Rieder challenges the efficient‑market hypothesis, arguing...
The Outbreak of Warsh
The episode examines the revival of Gulf public bond issuance after a two‑month war‑induced pause, highlighted by Emirates NBD’s $750 million AT1 bond that priced at 6.25% and attracted a $2 billion order book with roughly 24% international demand. Analysts discuss why...
EM Lens: Investors Aren’t Packing Their EM Bags Just Yet
In this episode of Emerging Markets Lens, senior EM fixed‑income manager Araf Joshi discusses how the Iran‑related oil shock is tightening LNG supplies and pressuring Asian and African economies, leading to higher bond spreads and fiscal stimulus measures. He contrasts...
Masters of the Muniverse: New York City and the Market’s Future
In this episode of FIC Focus, Bloomberg Intelligence’s Matthew Gastahl and senior associate Karen Altamirano sit down with Pat Luby, head of municipal research at Credit Sites, to discuss the evolving landscape of independent municipal research, the fiscal outlook for...
Global Rates: Central Banks Likely to Wait-and-See Against a Backdrop of Ongoing Middle-East Uncertainty
The episode examines upcoming policy meetings of the Fed, ECB, and BoE against the backdrop of the Middle‑East conflict and rising energy prices. Analysts attribute the US rate rise to solid consumption data and a dovish‑leaning Fed nominee, Kevin Warsh,...
The Fast and the Dubious
The episode examines three intertwined bond market trends: the rapid withdrawal of hedge funds from supranational and agency (SSA) bond order books, the resulting shift toward central bank and official institution investors, and the impact on issuers' funding costs; the...