Episode 20 of All The Credit® covers the current topics impacting emerging markets– idiosyncratic issues, the unique inflationary challenges facing EM nations, how developed markets impact the sector, China, and more. Cathy Hepworth, CFA, Head of Emerging Markets Debt, joins Host and Senior Portfolio Manager Michael Collins, CFA, to provide her insights on what her team is watching across the range of emerging market strategies managed at PGIM Fixed Income. (Recorded on September 29, 2021)

All The Credit

Emerging Market Debt: Glass Half Empty or Half Full?

With approximately 100 years of investment experience across the three-member panel, this episode of All The Credit delves into the nuances of the current global credit cycle with a special focus on how the "rising star" phenomenon is impacting investment grade and high yield markets. Host and Senior Portfolio Manager Mike Collins welcomes PGIM Fixed Income’s Terence Wheat, Co-Head of the U.S. Investment Grade Corporate Team, and Steve Logan, European Leveraged Finance Portfolio Manager, for an assessment of how their teams are approaching this environment, what’s driving the current shift, and potential opportunities for credit investors. Recorded on August 24, 2021

Navigating the Ups and Downs of the Global Credit Cycle

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.

Making Sense of the Booms and Busts in Global Real Estate

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.

The Persistence of Supply-Side Constraints and Their Impact on Inflation

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). 

Exploring China's Economic Maturation, International Relations, and Debt Dynamics

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.

Corporate Fundamentals and Sector Winners and Losers as The Golden Age of Credit Evolves

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. 

Asset Allocation in Today's Markets - Exploring Alternatives

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. 

Investing Through the Arc of the COVID Recovery

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.

Assessing European Leveraged Finance Opportunities with PGIM Fixed Income

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.

Opportunities in the Municipal Bond Market—Where Politics, Public Services, and Investments Collide

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.

What Could A Biden Presidency and Divided Government Mean for Investors? Post-Election Views from PGIM Fixed Income

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.   

Building an ESG Framework at PGIM Fixed Income

Host and Senior Portfolio Manager Michael Collins welcomes two of our London-based investment professionals, Chief European Economist Katharine Neiss, PhD, and Head of European IG Corporate Bonds, Edward Farley. In this episode, they discuss Europe's fiscal response to COVID-19, the EMEA opportunity set for investors, what the European recovery thus far can tell us about what to expect in the United States, ESG investing, and much more. Listen and subscribe today.

European Perspective: COVID, Trends, and Credit Opportunities

With companies less reliant on office space, an ongoing shift to online retail shopping, and a recession in our midst, owning top-of-the-capital structure securitized products in our multi-sector portfolios can be a key differentiator.  Join Mike Collins as he hosts John Vibert, PGIM Fixed Income’s Head of Securitized Products, for Episode 7 of All The Credit. In this episode, John explains current market risks, his team’s process for mitigating those risks, and why he believes PGIM Fixed Income remains well-positioned.  Mr. Vibert also covers positions the team is actively adding to in the securitized product space, the team’s current best ideas, and how his team incorporates ESG factors into the investment process. Listen to this engaging discussion on All The Credit now and subscribe wherever you get your podcasts!

Can Real Estate Keep the Lights On?  Investing in Securitized Credit During COVID-19

In this month's edition of PGIM Fixed Income's podcast "All The Credit," Host and Senior Portfolio Manager Mike Collins welcomes PGIM Fixed Income's two distressed credit analysts, Gregory Cass and Carras Holmstead. Mike, Gregory, and Carras discuss the recent uptick in distressed credits given the current economic environment, the inner workings of the distressed credit market, the value they bring to our clients, and how PGIM Fixed Income is well-positioned given the current environment.

A Conversation with PGIM Fixed Income's Distressed Credit Analysts

Looking for timely information on fixed income trends and market opportunities? PGIM Fixed Income is proud to bring you, All the Credit. Hosted by Senior Portfolio Manager Mike Collins, All the Credit has a new guest each month to tell you what matters most in global fixed income and how it could impact your portfolio.

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All The Credit

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