The Global Corporate Bond Binge

The video discusses the current state of credit issuance, highlighting the motivations behind borrowing at low levels and the trend of terming out debt. It contrasts credit risk with duration risk, emphasizing concerns about credit risk in the face of a potential recession. The discussion covers market volatility, the lack of investment alternatives, and the impact of global economic factors. High yield bonds are examined, noting their relative attractiveness compared to investment-grade bonds. The video concludes with an analysis of the fixed income market's fragmentation and the challenges faced by pension funds due to low yields.

What role do central bankers play in influencing investor behavior in the current market?

How do dislocations in the fixed income market affect investment strategies?

What challenges do pension funds face in the current market environment?