PGIM Fixed Income Weekly View from the Desk
Gauging Central Banks’ Reaction Functions
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.
Introductions and Professional Backgrounds of Guests: 0:00
Why Consider European Leveraged Finance: 8:00
Energy, COVID-Sensitive Sectors, and Default Outlook: 12:30
Outlook for Loans: 15:05
Portfolio Allocations in the Current Environment: 17:30
PFI’s Approach to CLOs, Differences in Investing CLOs and High Yield: 20:40
Best Ideas in CLOs: 27:50
European Leveraged Finance and ESG: 30:30
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Fixed income investments are subject to interest rate risk, where their value will decline as interest rates rise.
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