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 the 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 Aug. 24, 2021)
- Outlining the Current Economic Situation: 0:00 – 4:15
- Introducing the Panel: 4:15 – 7:00
- Where Are We In the Global Credit Cycle and Unique Aspects of this Cycle: 7:00 – 9:20
- High Yield Default and Recovery Analysis: 9:20 -12:20
- The New Issue Market, Fallen Angels, and Rising Stars: 12:20 – 13:50
- What Drives Fallen Angels and Rising Stars; Consequences: 13:50 – 19:10
- Finding Opportunities for Investors in HY, IG, and Multi-Sector: 19:10 – 23:45
- How PGIM Fixed Income Manages Rising Stars/Fallen Angels: 23:45 - End
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This material is being provided for informational or educational purposes only and does not take into account the investment objectives or financial situation of any client or prospective clients. The information is not intended as investment advice and is not a recommendation. Clients seeking information regarding their particular investment needs should contact a financial professional.
1049865-00003-00 Ed. 09/21