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Artwork for FICC Focus
Interest Rates
Private Credit
Federal Reserve
Inflation
Emerging Markets
Distressed Debt
Tariffs
Credit Markets
Fiscal Policy
Monetary Policy
US Dollar
Private Equity
Clos
Municipal Bonds
Commercial Real Estate
Credit Market
US Economy
Bloomberg Intelligence
Euro-Dollar
High Yield

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

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Artwork for FICC Focus

Latest Episodes

“The key to longevity in lending is really avoiding principal loss, minimizing principal loss,” says Richard Miller, chief investment officer of TCW’s Private Credit Group. Reduced distress has led to less demand for restructuring and recovery-optimi... more

Heightened geopolitical risk is driving asset price fluctuations, as inflation and interest rate uncertainty demands increased focus on risk management and liquidity. Andrew Jackson, head of investments at Vontobel, joins Damian Sassower, Bloomberg I... more

“In the past, I think a lot of times [sponsors] just handed the keys over if they were hopelessly insolvent,” industry veteran David Trucano says. “Now [the market has] basically written, through credit agreements, a call to the equity such that they... more

Stephen Douglass, chief economist and a member of NISA Investment Advisors’ global investment committee, explains why he still sees the US economy as broadly consistent with a soft-landing path once the current oil shock fades, even though the war ha... more

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Recent Guests

Stephen Douglass
Chief Economist and member of NISA's Global Investment Committee
NISA Investment Advisors
Episode: Macro Matters: NISA Investments’ Douglass on Fed, Fiscal Outlook
Boris Okuliar
Chief Strategy Officer and Head of Global Diversified Credit at Corinthia Global
Corinthia Global
Episode: Credit Crunch: UK Crisis, Private and Middle-Market Credit
Grant Nachman
Founder, CEO, CIO of Shorecliff Asset Management
Shorecliff Asset Management
Episode: Credit Crunch: Shorecliff’s Nachman on Market, Managing Growth
Arif Joshi
Senior Managing Director, Emerging Market Fixed Income Portfolio Manager at Bramshill Investments
Bramshill Investments
Episode: EM Lens: Investors Aren’t Packing Their EM Bags Just Yet
Pat Luby
Head of Municipals and Senior Municipal Strategist
CreditSights
Episode: Masters of the Muniverse: New York City and the Market’s Future
Thys Louw
Portfolio Manager of Emerging Market Fixed Income
Ninety One
Episode: EM Lens: Identifying Alpha Opportunities in EM Fixed Income
Patrick Drum
Fixed income lead and portfolio manager
Saturna Capital
Episode: Credit Crunch: Saturna’s Drum on Sukuk Growth, Geopolitical Risk
Manuel Schoeffler
Head of High Yield at Deka Investments Frankfurt
Deka Investments
Episode: Credit Crunch: Investor Survey 2Q - Iran, Rates, Dollar vs. Euro
Jon Weber
Partner at Jon F Weber & Co
Jon F Weber & Co
Episode: State of Distressed Debt: Weber, Aguirre on Attaining Owner DNA

Hosts

Ira Jersey
Chief Interest Rate Strategist focusing on interest rates and monetary policy dynamics.
Noel Hebert
Chief US Credit Strategist specializing in corporate credit and distressed debt.

Reviews

4.7 out of 5 stars from 151 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 States4 years ago

Listeners Say

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

Some feedback indicates a preference for guest perspectives over the host's views.
The educational value of the discussions is frequently highlighted, with listeners enjoying the nuanced take on financial market intricacies.
Listeners appreciate the in-depth market analysis and the expert insights provided by guests.

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Talking Points

Recent interactions between the hosts and their guests.

Credit Crunch: UK Crisis, Private and Middle-Market Credit
Q: There's all kinds of fun stuff happening in the news today here in rates and in the UK. How are you thinking about gilt valuations and the current environment?
Boris explains that gilt yields have been volatile, with dynamics influenced by political events and monetary policy expectations, but he emphasizes sticking to credit where fundamentals remain the focus rather than chasing dramatic rate moves.
Macro Matters: BlackRock’s Brownback on Global FI Opportunities
Q: Where do you see the most attractive opportunities globally, and how do you manage currency and geography in multi-sector portfolios?
Opportunities exist across securitized markets, commercial real estate-related securitizations, and selective European credit exposure funded back to dollars; tactically moving between European and US credits and using currency swaps to enhance carry while avoiding outright currency risk are core elements of our approach.
Macro Matters: BlackRock’s Brownback on Global FI Opportunities
Q: What are your expectations for the next chair and the balance sheet policy, and how might that influence fixed income strategies?
The new chair is likely to continue a gradual approach, with a continued focus on balance sheet normalization that could keep liquidity levels more modest but stable; overall, the framework should support a larger economy over time with a smaller relative balance sheet but not an abrupt policy shift, preserving a carry-friendly environment for diversified credit strategies.
EM Lens: Identifying Alpha Opportunities in EM Fixed Income
Q: How should investors defensively position portfolios given potential stress scenarios and diverging central bank paths?
Positioning should favor a diversified basket of short-dated rates across EM and select countries with credible policies, while avoiding overexposed carry trades and being ready to adjust as volatility and growth signals evolve.
EM Lens: Identifying Alpha Opportunities in EM Fixed Income
Q: What is driving EM fund flows and who is the marginal risk taker in today's environment?
Flows are being driven by better fundamentals, diversification needs, and large institutional buyers outside the US seeking exposure to EM as a diversifier, with ongoing appetite for risk selective frontier opportunities.

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Frequently Asked Questions About FICC Focus

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

Focused primarily on financial markets, the content presented revolves around interest rates, corporate bonds, emerging market debt, commodities, and various currencies. Analysts from a leading financial intelligence provider engage in enlightening discussions that cover the intricate dynamics driving the global economy and investment landscape. Topics discussed often include macroeconomic trends, insights from market surveys, and the implications of fiscal policies on different asset classes, providing listeners with valuable market intelligence and analysis to navigate their investment decisions. With expert guests from the finance industry, this platform offers in-depth perspectives and timely insights that are highly relevant for financ... more

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Which podcasts are similar to FICC Focus?

These podcasts share a similar audience with FICC Focus:

1. The Credit Edge by Bloomberg Intelligence
2. At Any Rate
3. The View From Apollo
4. Making Sense
5. Global Data Pod

How many episodes of FICC Focus are there?

FICC Focus launched 5 years ago and published 555 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. Stephen Douglass
2. Boris Okuliar
3. Grant Nachman
4. Arif Joshi
5. Pat Luby
6. Thys Louw
7. Patrick Drum
8. Manuel Schoeffler

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