David Riley joins us on the BlueBay Insights podcast to discuss credit markets and the policy monetary policy meetings.

We asked David:

1. Global equities have posted new highs and US Treasury yields have fallen. Are we back in a ‘goldilocks’ environment for markets?
2. How would you characterise the state of credit markets?
3. With valuations quite high by historic standards, how much more value is there left in credit?
4. You mentioned emerging market credit as lagging developed market credit in the first months of this year. Is there contagion risk from the distress of the Chinese company Huarong that is currently in the headlines?
5. The ECB’s latest monetary policy meeting just concluded. What are your takeaways?
6. The Fed meets next week. Are you expecting any fireworks?
7. Any other recent developments you think are worth highlighting?

Tim Leary joins us on the BlueBay Insights podcast to give a quick update on global high yield markets as we enter Q2. 

We asked Tim:

1. Can you give us a quick overview of the global high yield market year-to-date – how’s the first quarter gone for US high yield?
2. How does that compare to European HY?
3. Which market do you favour for the rest of the year?
4. What do you think will drive returns through Q2 and into the second half of the year?
5. Conversely, what do you see as the top three challenges or risks to high yield performance in 2021?
6. How might Joe Biden’s USD1.9 trillion stimulus package impact the high yield market?
7. The reflation trade is topical at the moment – is this a cause for concern? How could higher inflation impact high yield?

David Riley joins us on the BlueBay Insights podcast to share his thoughts on the months ahead.

We asked David:

1. Let’s take stock of the quarter
2. What do you think will be the key issues and themes for the quarter ahead? 
3. You highlighted is another fiscal package out of Washington. 
4. Moving over to Europe - there seems to be some risk to the implementation of the EU Recovery Fund. What is going on?
5. Any thoughts on the Archegos saga?

David Riley joins us on the BlueBay Insights podcast to update us on the latest round of central bank meetings.

We asked David:

1. The US Federal Reserve meeting was highly anticipated. Did it live up to its headline billing?
2. The Fed revised up its growth and inflation forecasts, but was there any change to its interest rate projections, the so-called dots?
3. It does seem the Fed was very dovish, yet bond yields continue to move higher.
4. The US Federal Reserve was not the only central bank meeting yesterday. The Brazilian central bank also held a policy meeting.
5. The ECB also had a policy meeting, could you update us?
6. How should investors navigate higher bond yields and interest rate volatility?

David Riley joins us on the BlueBay Insights podcast to share his views on the performance of the financial markets and the latest economic data.

We asked David:

1. What are your takeaways from the performance of financial markets so far this year?
2. China’s top bank regulator said he is worried by bubbles in foreign financial markets. Do you share his concerns?
3. Returning to the bond market, is the tantrum over?
4. Stepping back, is the flow of economic data consistent with our above-consensus view for global growth?
5. Any key highlights from the UK budget worth sharing with our international audience?

David Riley joins us on the BlueBay Insights podcast to share his views on bond yields. Will they go higher?

We asked David:

1. Yields on government bonds have moved meaningfully higher. What are the drivers of the rise in bond yields?
2. Do you think that bond yields can go much higher?
3. Are you worried that there could be another ‘taper tantrum’?
4. Are you concerned by higher bond yields?

Marc Stacey joins us on the BlueBay Insights podcast to share his expertise on coco bonds & European banks, discussing fundamentals, risks, ESG opportunities and the potential investment ‘sweet spot’ enjoyed by AT1 capital.

We asked Marc:

1. Banks were deemed villains following the global financial crisis back in 2008 but have been a key part of the solution to the corona virus pandemic. Can you talk us through this shift and what it means for investors?
2. Your investment approach has always focused on fundamentals – how are things looking right now? What’s the situation with non-performing loans – have we seen the peak or do you anticipate a pick-up later this year?
3. In a world of rising inflation and swathes of negative-yielding debt, bank capital in the form of AT1s seems to offer something of a ‘sweet spot’ to investors – in your view what’s the potential opportunity here? 
4. Where are you seeing the greatest alpha potential?
5. What are the possible risks that could challenge your core investment views this year?
6. Where do you think an allocation to coco bonds best sits within a broader portfolio and who do you think should be looking at the asset class this year?

Andrzej Skiba joins us on the BlueBay Insights podcast to share his expertise on the high yield asset class, discussing growth trends, the default outlook, ESG factors and where he sees investment potential this year.

We asked Andrzej: 

1. With the roll-out of Covid vaccines, most economists are predicting a sharp rebound in global growth during 2021. In your view, could this lead to inflationary pressures and losses in bond markets and how might this impact the high yield asset class?
2. Default rates were surprisingly low in 2020 largely due to government support schemes. As these schemes come to an end, do you expect defaults to pick-up damaging overall high-yield returns?
3. Fallen angels were a big topic last year – could you update us on any trends here and notable impacts from the 2020 downgrades?
4. Historically, the high yield universe was dominated by US issuers, but now the market is more global – how do you and the team manage portfolios to take account of this shift?
5. What about ESG in the high yield market? Is it possible to manage a high yield bond strategy while adhering to ESG principles? And does doing so impact performance?
6. Where do you see the greatest potential opportunities in 2021?

David Riley joins us on the BlueBay Insights podcast to discuss the vaccine rollout, corporate earnings and Reddit traders.

We asked David:

1. January had been a relatively quiet month for financial markets but ended with headlines over Reddit traders taking on Wall Street. What is your take?
2. In our last podcast, you said you were watching the vaccine rollout and corporate earnings. Let’s discuss vaccines first, there has been quite a lot of news over the last week or so.
3. Finally, what are your initial thoughts on former ECB President Mario Draghi becoming Italy’s new Prime Minister?

Senior ESG analyst, Lucy Byrne, joins us on the BlueBay Insights podcast to discuss increased transparency in ESG.

We asked Lucy:

1. What are the key themes for ESG in our industry for 2021?
2. What are our ESG priorities at BlueBay?
3. How can we practically apply ESG integration?