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

PublishesDailyEpisodes535Founded5 years ago
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Artwork for FICC Focus

Latest Episodes

Sovereign balance sheets should come under renewed pressure as the war-induced oil shock forces EM governments to take extraordinary measures aimed at actively defending their domestic economies. Fabio Natalucci, CEO of the Andersen Institute for Fin... more

Wider spreads and credit enhancement causing upgrades in auto asset-backed securities reduces the sector’s risk against similarly rated and maturity corporate debt, says Rod Chadehumbe, Bloomberg Intelligence ABS Strategist. Chadehumbe joins host Ira... more

Cross-asset markets are under stress given the bi-modal risks of de-escalation vs. prolonged conflict. This edition of All Options Considered podcast discusses the probability distribution around the outcomes of the Iran war and markets. BI’s Chief G... more

“Technicals for high yield post-Covid have been very strong, with pretty limited net new supply, minimal downgrades, strong demand given elevated base rates and pretty reasonable credit spread,” says John McClain, Goldman Sachs Asset Management’s glo... more

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Recent Guests

Edward Fishman
Author of Chokepoints, American Power in the Age of American Warfare; Senior Fellow at the Council on Foreign Relations
Council on Foreign Relations / Chokepoints author
Episode: All Options Considered: Iran War, Hormuz and Market Tails
John McClain
Global Co-Head of High Yield and Bank Loans, Goldman Sachs
Goldman Sachs
Episode: Credit Crunch: GSAM’s McClain on High Yield Risks, Resilience
Zia Uddin
President of Monroe Capital and CEO of the Monroe Capital Enhanced Corporate Lending Fund (MLend)
Monroe Capital
Episode: Credit Crunch: Monroe’s Uddin on Software, Middle-Market Lending
Michael McKee
International Economics and Policy Correspondent
Bloomberg News
Episode: Macro Matters: Fed Communications With Bloomberg’s Mike McKee
Stephen Boyko
Partner and co-founder of the Private Credit Group
Proskauer
Episode: Credit Crunch: Proskauer’s Boyko on Outcomes in Private Credit
Brian Resnick
Davis Polk partner, head of Liability Management & Special Opportunities Practice
Davis Polk & Wardwell LLP
Episode: State of Distressed Debt: Davis Polk’s Resnick on Emerging LME Trends
Huw Worthington
Chief European Rate Strategist
Bloomberg Intelligence/Bloomberg L.P.
Episode: Macro Matters: Central Banks With BE’s Wong, BI’s Worthington
Cem Karacadag
Head of Global Sovereign Debt at Barings
Barings
Episode: EM Lens: Shifting to Second Derivatives in EM Sovereign Debt
Wynne Comer
Chief Operating Officer at AGL (credit platform)
AGL
Episode: Credit Crunch: AGL’s Comer on CLOs, Active Management and Growth

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 States10 months 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 Statesa year 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.

Chart Rankings

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Talking Points

Recent interactions between the hosts and their guests.

All Options Considered: Iran War, Hormuz and Market Tails
Q: So at the highest level, does it feel to you like the objective of this conflict is evolving?
Edward explains that there wasn't a single clear war aim from the start, with discussions around regime change and then a shift toward keeping the regime but restricting nuclear capabilities; the current priority appears to be reopening the Strait and preventing a protracted disruption, with additional discussion of possible ground actions depending on strategic calculations.
Credit Crunch: GSAM’s McClain on High Yield Risks, Resilience
Q: What is your view on policy direction and the Fed path, and how does that feed into your investment stance?
He notes that policy signals a balanced approach to front-end rates with a limited case for aggressive cuts, but that the market is focused on when the next move will be a cut rather than a hike, highlighting the importance of narrative and market pricing in timing credit allocations.
Credit Crunch: GSAM’s McClain on High Yield Risks, Resilience
Q: How do you think about rates in terms of how they're intersecting with high yield vs. loans, and what are you watching for in the near term?
McClain explains that rate volatility often leads to spreads tightening in selective pockets, and that managers monetize quality credits in risk-off environments, especially in high yield. He emphasizes a framework that looks at the quality of software and data-center exposures, the balance sheets, and the potential for better ammunition in the secondary market when primary issuance is light.
Credit Crunch: Monroe’s Uddin on Software, Middle-Market Lending
Q: How does Monroe view the balance between growth in ABF and traditional direct lending in the lower middle market?
ABF is a strategic growth area alongside core lower middle-market direct lending; they expect ABF and real estate to drive future growth due to investor demand for diversified, collateral-based credit solutions, with direct lending remaining a solid but more mature growth path.
Macro Matters: Fed Communications With Bloomberg’s Mike McKee
Q: How might a change in leadership affect the transparency and consistency of Fed communications?
A new chair like Warsh could push for more coordinated messaging and fewer, carefully crafted statements, helping to standardize communications but still requiring consensus from governors with diverse views.

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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. Capital Allocators – Inside the Institutional Investment Industry

How many episodes of FICC Focus are there?

FICC Focus launched 5 years ago and published 535 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. Edward Fishman
2. John McClain
3. Zia Uddin
4. Michael McKee
5. Stephen Boyko
6. Brian Resnick
7. Huw Worthington
8. Cem Karacadag

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