In this 2026 Outlook discussion, our experts across High Yield, CLOs, Investment Grade and EM Debt cover:
- Where they see value (against a backdrop of historically tight spreads)
- How megatrends like AI proliferation are creating opportunities (and risks)
- Their personal “bold predictions” for the year ahead
Panelists:
Brian Pacheco – Global High Yield
Adrienne Butler – Global CLOs
Charles Sanford – Investment Grade Credit
Cem Karacadag – Sovereign Debt & Currencies
Episode Segments:
(01:01) – 3 macro trends shaping the landscape for fixed income
(03:50) – The case for staying invested in high yield in 2026
(07:09 – Potential risks to high yield
(13:35) – Megatrends shaping the high yield landscape
(15:10) – Brian’s bold prediction on high yield
(17:09) – Why CLOs are at the center of credit market innovation
(21:51) – Who is investing in CLOs and how that’s changing
(26:08) – How lower rates may impact CLOs
(28:32) – The ebb and flow of broadly syndicated loans vs private credit
(29:56) – Adrienne’s bold prediction for 2026
(31:49) – Is Microsoft paper higher quality than the US government?
(35:22) – Risks of AI capex to investment grade companies
(39:17) – Opportunities in less-trafficked areas of IG
(41:28) – Sizing up the opportunity in IG credit in 2026
(43:40) – Charles’ bold prediction of IG credit for 2026
(45:49) – Analyzing value in EM debt and currency markets
(49:06) – EM spreads are tight… so what?
(51:20) – Two value opportunities in EM
(53:57) – Cem’s bold prediction for EM for 2026
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IMPORTANT INFORMATION
Any forecasts in this podcast are based upon Barings’ opinion of the market at the date of preparation and are subject to change without notice, dependent upon many factors. Any prediction, projection or forecast is not necessarily indicative of the future or likely performance. Investment involves risk. The value of any investments and any income generated may go down as well as up and is not guaranteed. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. Any examples set forth in this podcast are provided for illustrative purposes only and are not indicative of any future investment results or investments. The composition, size of, and risks associated with an investment may differ substantially from any examples set forth in this podcast. No representation is made that an investment will be profitable or will not incur losses.
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