All the Capital

In this episode of All The Credit, a panel of senior investment professionals from PGIM Fixed Income and PGIM Real Estate explore if there's a housing bubble, how return to work scenarios could impact commercial office markets, what the future holds for retail, lodging, warehouses, and much more. This wide-ranging discussion of all things real estate features Lee Menifee, Head of Americas Investment Research at PGIM Real Estate, and he's joined by Sean Beggan and Gabe Rivera of PGIM Fixed Income's Securitized Products Team.

With inflation rising, shortages of key goods due to rising demand, and disruptions abound in the global supply chain, PGIM Fixed Income's All The Credit assesses the top-down macroeconomic factors at play and delves into some of the supply chain bottlenecks causing angst. Importantly, this episode also shares what the current environment means for fixed income investors. Host and Senior Portfolio Manager Mike Collins is joined by Chief Economist Nathan Sheets and Senior Credit Analysts John Smigelsky and Jake Kemeny to assess how investors can make sense of the current state of the ever-changing and newsworthy global supply chain.

Hear from PGIM Fixed Income's Lead Economist for Asia Gerwin Bell, PhD, and EMD Portfolio Manager Johnny Mak as they take a deep dive into all things China: the economic growth outlook, potential demographic challenges, the country's fundamentals, industry winners, an update on global trade agreements, and more in this episode of All The Credit. Episode 16 also includes our firm's positioning given the macroeconomic view on China, as well as a follow-up discussion to a recent paper co-authored by Gerwin Bell entitled "Three Focal Points for the U.S.-China Relationship," available now on PGIMFixedIncome.com. Listen and subscribe to All The Credit wherever you find your podcasts. (This episode was recorded on May 18, 2021).

This episode of PGIM Fixed Income's podcast All The Credit provides listeners with, quite literally, a view of all the credit. From corporate fundamentals to sector winners and losers, Rich Greenwood, Head of PGIM Fixed Income's Credit Group, delivers his insights on the credit market amidst the COVID-19 recovery. Greg Peters, Head of Multi-Sector and Strategy, provides his take on the evolution of asset classes, the predicted duration of what he's coined as The Golden Age of Credit, as well as how our team is positioning multi-sector portfolios given market fundamentals and the current opportunity set.

With trillions of dollars in negative yielding debt around the world, money market rates pegged at zero, and relatively tight credit spreads, recent surveys of investors reveal plans for potential large allocation shifts from long-only strategies into a variety of alternatives. On this episode of All The Credit, Host Mike Collins invites Erik Schiller, Head of Liquidity, Mick Meyler from PGIM Fixed Income's Developed Market Rates team, and Mike Niosi from our Client Advisory Group to provide their view of the Alternatives market, including what draws investors to these strategies, the current risks and opportunities in the market, and more.

In this episode of All The Credit, Mike Collins welcomes Chief Economist Nathan Sheets and Chief Investment Strategist Robert Tipp for an analysis of the economic, market, and political journey we've taken in the past year as well as a forward-looking conversation on what investors can expect as the recovery continues. Mike and his guests discuss the pace and magnitude of the recovery thus far, including support in terms of economic fiscal stimulus and private sector innovations. All of this leads to a constructive outlook in 2021, with future thoughts on what happens in the years to come. Listen today to hear the potential investment implications for active, fixed income investors.

In this episode of All The Credit, Senior Portfolio Manager and Host Mike Collins welcomes two of our London-based colleagues to discuss what makes the European High Yield, Bank Loan, and CLO markets attractive for investors. Jonathan Butler, Head of European Leveraged Finance, discusses our current outlook, including the five factors supporting an allocation to European High Yield, and Asha Narayan, CLO Portfolio Manager, discusses PGIM Fixed Income's approach to CLO management and how it can fit into an active, fixed income portfolio. Listen and subscribe to All The Credit wherever you find your podcasts for insights for active, fixed income investors.

All The Credit host Mike Collins speaks with PGIM Fixed Income's Municipal Bond Team on our final episode of 2020. Episode 11 features Susan Courtney, Head of the Municipal Bond Team, and Garrett Falzone, Head of Municipal Bond Research. Listen in as they cover the opportunity set in this unique investment sector that combines politics and public services. This brief program introduces listeners to the muni market, analyzes the impact of the pandemic on cities and states, assesses the low default rate and how ESG factors impact investment decisions, and shares our house view of the opportunity set for investors now and going forward. Listen and subscribe to All The Credit wherever you get your podcasts.

PGIM Fixed Income's Senior Portfolio Manager and All The Credit host Mike Collins welcomes two guests who possess unique insights into the U.S. political system. In this episode we hear from Nathan Sheets, PGIM Fixed Income's Chief Economist and former Under Secretary of the Treasury Department, and David Burns, a senior member of Prudential's Congressional Government Affairs team, as they share their thoughts on the recent elections and the future political landscape in America. The two guests highlight prospects for new stimulus plans, who they expect to see fill important Washington positions that could impact the development of U.S. monetary and fiscal policy, and what it could mean for your investment portfolio.

As ESG investing continues to make news headlines and discussions are on the rise with asset owners, PGIM Fixed Income is pleased to host a timely interview. In Episode Nine of All The Credit, Host and Senior Portfolio Manager Mike Collins welcomes Eugenia Unanyants-Jackson, in the newly formed role of Head of ESG Research. In this episode, the two delve into the growth of ESG in the fixed income space, the firm's development of an internal ratings framework and its integration into the investment process, how this newly-created role will help PGIM Fixed Income's clients, and general market trends we can expect to see going forward.