All The Credit, Episode 1—Mike Lillard, Head of PGIM Fixed Income
On the inaugural episode of "All the Credit," Host and Senior Portfolio Manager Mike Collins welcomes Mike Lillard, Head of PGIM Fixed Income and Chief Investment Officer. In this wide-ranging interview, the two discuss the debate over active vs. passive investing, global growth and macro views in 2020, and the firm’s overall view of the top trends and opportunities in the fixed income markets.
The Implications of the U.S.-China Trade Deal Revisited
The completion of the Phase 1 agreement marks a cease fire in the U.S.-China trade war, and the deal underscores several persistent issues that we considered in a white paper published in April 2019. We find that China’s commitments to hike imports from the United States range from those that will be challenging to those that will likely be even more difficult.
With Brexit All-But Done, Now Comes the Hard Part
The Conservative party’s sweeping victory in the December 13th general election was a landmark event on several fronts. Now, barring the unforeseen, the UK will leave the European Union on January 31, 2020 based on the deal that Prime Minister Johnson previously reached with the EU.
Neither Hawk Nor Dove: The ECB’s Lagarde Suggests the Wisdom of an Owl
After presiding over her first Governing Council (GC) meeting, ECB President Christine Lagarde successfully held the policy line, thereby forestalling speculation that the ECB may quickly engage in further easing. At the same time, she carved out flexibility under the upcoming strategic review, outlining its broad scope while appropriately refraining from taking any views on its potential findings, thus avoiding hints about potential policy changes and cementing the status quo, at least for now.