The future of the dollar is dictated by the large overhang of unhedged dollar assets, says Hemant Baijal, head of macro alpha strategies at Invesco. Baijal joins Ira Jersey, Bloomberg Intelligence’s head of US interest-rate strategy, and Will Hoffman, BI’s senior US and Canada rates-strategy associate, on this episode of the Macro Matters podcast to discuss the world of international bond funds. They cover strategic approaches to managing global rates, credit and FX risks, and how those have shifted in recent months. They also explore relative value across nominal and inflation-linked curves.

The Macro Matters podcast is part of BI’s FICC Focus series.