Duration Remains Unattractive, Says Veteran High Yield Bond Investor
On todays episode, Craig Manchuck Vice President & Portfolio Manager at Osterweis joins the show for a discussion on the end of the zero interest rate era. We deep dive into the bond market sell-off over the past 3 years, where to find opportunities in the bond market & the rise of private credit. To hear all this & more, you'll have to tune in! -- Follow Jack Farley on Twitter https://twitter.com/JackFarley96 Follow Forward Guidance on Twitter https://twitter.com/ForwardGuidance Follow Blockworks on Twitter https://twitter.com/Blockworks_ -- Timestamps: (00:00) Introduction (00:43) The Low Interest Rate Era Is Over (06:55) The Fed's Tightening Will Lead To A Recession (17:47) Investing In A Zero Rate Regime vs Today (23:34) The Indexation Of Fixed Income (27:22) How CLOs & Passive Have Impacted Bonds (41:33) Where Is The Pain From Higher Interest Rates Being Felt? (48:10) The Heyday Of Private Equity Is Over (01:00:19) Liquidity In Private Credit (01:09:35) Understanding The Credit Spread Curve -- Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.