Rephonic
Artwork for FICC Focus
Federal Reserve
Private Credit
Inflation
Emerging Markets
Interest Rates
Distressed Debt
Credit Markets
US Dollar
Fiscal Policy
Tariffs
Private Equity
High Yield
Euro-Dollar
Monetary Policy
Bloomberg Intelligence
Liability Management
Credit Market
Dollar
US Economy
Japan

FICC Focus offers the latest market views on interest rates, corporate bonds, emerging market debt, commodities, and currencies by Bloomberg Intelligence analysts.

PublishesDailyEpisodes610Founded5 years ago
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InvestingBusiness

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Latest Episodes

“’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 Practice, as he addresses the latest dynamic between debtors and lenders in distressed... more

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 cheap. Jimmy Chang, chief investment officer of Rockefeller Global Family Offic... more

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 headed next. Ira Jersey, Bloomberg Intelligence chief US interest-rate strategist... more

“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 for Manulife Investment Management. In this episode of Credit Crunch, Purdie jo... more

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Recent Guests

Colin Purdie
Public Markets Global CIO for Manulife
Manulife Investment Management
Episode: Credit Crunch: Manulife’s Purdie on AI, ESG and Relative Value
Brendan Murphy
North American Head of Fixed Income at Insight Investment Management
Insight Investment Management
Episode: Macro Matters: Insight Investment’s Murphy on Fixed Income
Malcolm Dorson
SVP and head of the Active Investment Team at Global X; EM equities expert
Global X
Episode: EM Lens: Global X’s Dorson Shines Spotlight on EM Equities, FX
Jack Meaning
UK Chief Economist at Barclays
Barclays
Episode: Macro Matters: Barclays’ Meaning on UK Rates, Inflation, Growth
Genna Lozovsky
Managing partner and CIO
Sandglass Capital Management
Episode: EM Lens: Sandglass’ Lozovsky Reinforces Bullish EM Narrative
Drew Matus
Market Strategist at MetLife Investment Management
MetLife Investment Management
Episode: Macro Matters: MetLife’s Matus on Fed Policy, AI and Markets
Robert Stark
Chair, Brown Rudnick's Bankruptcy and Corporate Restructuring Practice Group
Brown Rudnick
Episode: State of Distressed: Burian, Stark on the Preordained Bankruptcy
Saul Burian
Managing Director, Houlihan Lokey, Restructuring Practice Group
Houlihan Lokey
Episode: State of Distressed: Burian, Stark on the Preordained Bankruptcy
EG Fisher
Chief Investment Officer, Mariner Investment Group
Mariner Investment Group
Episode: Macro Matters: Mariner CIO E.G. Fisher on Liquidity and Credit

Hosts

Noel Hebert
Host and Senior Analyst focusing on FICC and credit strategies
Damian Sassower
Host of FICC Focus, Bloomberg Intelligence
Ira Jersey
Chief Interest Rate Strategist

Reviews

4.7 out of 5 stars from 170 ratings
  • Review

    Too much of the host. Difficult to understand and not interested in his view. Should emphasize the guest more.

    Apple Podcasts
    4
    ncciai12
    United Statesa year ago
  • Learn things

    Appreciate the views shared in interviews and event reviews. Always learning more intracacies of various FI segments.

    Apple Podcasts
    5
    Forty Acres
    United States2 years ago
  • Good pad Kaz

    Well done on municipal bonds

    Apple Podcasts
    5
    BillyJeffyWatty
    United States5 years ago

Listeners Say

Key themes from listener reviews, highlighting what works and what could be improved about the show.

Some episodes come across as host-driven; guests' insights are highly valued but balance could vary by episode.
Listeners appreciate the rigor and practical market color, with recurring praise for deep-dive topics in FI, rates, and EM.
Strong clarity for municipal and housing-content fans; niche topics get highlighted effectively.

Chart Rankings

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Talking Points

Recent interactions between the hosts and their guests.

Credit Crunch: Manulife’s Purdie on AI, ESG and Relative Value
Q: How does AI influence investment strategy and what's the outlook for AI-related issuers?
AI is viewed as structural and long-term; the market is moving from a broad, 'rising tide' optimism to a more selective approach that differentiates enablers from beneficiaries, with ongoing capex driving some risk and reward in equities and credit.
Credit Crunch: Manulife’s Purdie on AI, ESG and Relative Value
Q: Where does he see the biggest opportunities today across regions and asset classes?
Opportunities are spread across Australia, New Zealand, and the UK on the rate side, with nuanced opportunities in securitized and capital-structure plays, while private markets and Asia (including China and Japan) offer diversification and growth potential, supported by a broad global platform.
FX Moment: The Fed Meeting & What It Means for Bonds, the Dollar
Q: What are you expecting from the Fed next week?
The expectation is that the market has priced in a hike of around 25 basis points to 75 basis points before mid-next year, with a strong emphasis on whether the Fed provides enough communication to justify further tightening or to signal that they may pause if inflation moves toward target.
EM Lens: Sandglass’ Lozovsky Reinforces Bullish EM Narrative
Q: And in this environment, how do you identify opportunities in EM distress and special situations versus more broad-based carry trades?
Dislocations arise from the heterogeneity of EMs; opportunities exist in issuers that can recover and restructure balanced sheets, allowing for attractive exits, while broad spreads stay tight enough to favor selective, higher-quality distressed or reform-minded issuers.
EM Lens: Global X’s Dorson Shines Spotlight on EM Equities, FX
Q: What role do technology, AI, and semiconductor leadership in Asia play in EM equity performance and portfolio positioning today?
AI-related tech leadership in Taiwan and Korea (TSMC, Samsung, SK Hynix) is a major driver of margins and profitability, contributing to a broader EM AI trade that includes hardware and memory components; these dynamics support a more constructive view on EM equities despite macro headwinds, as earnings power improves and valuations begin to reflect these secular themes.

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Frequently Asked Questions About FICC Focus

What is FICC Focus about and what kind of topics does it cover?

This program concentrates on fixed income, rates, credit, and macro themes shaping global markets, with frequent deep dives into investment strategy, liquidity, and policy implications. Episodes commonly explore how central bank actions, funding markets, EM debt, mortgage markets, and liquidity considerations drive price action and risk. Notable is the blend of practitioner perspectives from asset managers, researchers, and strategists, plus practical guidance on portfolio construction in complex markets. The show frequently pairs hands-on market color with broader thematic commentary, making it a useful resource for professionals evaluating risk, opportunities, and policy-driven market shifts.

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How many episodes of FICC Focus are there?

FICC Focus launched 5 years ago and published 610 episodes to date. You can find more information about this podcast including rankings, audience demographics and engagement in our podcast database.

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What guests have appeared on FICC Focus?

Recent guests on FICC Focus include:

1. Colin Purdie
2. Brendan Murphy
3. Malcolm Dorson
4. Jack Meaning
5. Genna Lozovsky
6. Drew Matus
7. Robert Stark
8. Saul Burian

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