Guggenheim Macro Markets
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Tune in to Macro Markets to hear the top minds of Guggenheim Investments offer timely analysis on financial market trends. Guests include portfolio managers, fixed income sector heads, members of the Macroeconomic and Investment Research Group, and more.
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1 day ago
Episode 31: Post-FOMC/SVB Analysis
Matt Bush, Guggenheim Investments’ U.S. Economist, and Evan Serdensky, a Portfolio Manager on our Total Return team, share their perspectives and outlook following two eventful weeks in markets and the economy. They discuss the future path of monetary policy, the effects of a possible credit crunch, and investment strategy and positioning.
Related Insights:
A Not-So-Funny Thing Happened on the Way to the Terminal Rate
The Fed’s next move and beyond.
Read Macroeconomic Commentary
Silicon Valley Bank Replays the Ugly Consequences of Disintermediation
Assessing ongoing risks related to the SVB collapse.
Read Portfolio Strategy Commentary
Investors Should Not Expect Much Relief from Volatility
The transition to a world of quantitative tightening will lead to reduced liquidity, capital rationing and persistent swings in asset prices.
Read Portfolio Strategy Commentary
Investing involves risk, including the possible loss of principal.
This material is not intended as a recommendation or as investment advice of any kind, including in connection with rollovers, transfers, and distributions. Such material is not provided in a fiduciary capacity, may not be relied upon for or in connection with the making of investment decisions, and does not constitute a solicitation of an offer to buy or sell securities. All content has been provided for informational or educational purposes only and is not intended to be and should not be construed as legal or tax advice and/or a legal opinion. Always consult a financial, tax and/or legal professional regarding your specific situation.
This material contains opinions of the author or speaker, but not necessarily those of Guggenheim Partners, LLC or its subsidiaries. The opinions contained herein are subject to change without notice. Forward-looking statements, estimates, and certain information contained herein are based upon proprietary and non-proprietary research and other sources. Information contained herein has been obtained from sources believed to be reliable, but are not assured as to accuracy. Past performance is not indicative of future results. There is neither representation nor warranty as to the current accuracy of, nor liability for, decisions based on such information.
Guggenheim Investments represents the following affiliated investment management businesses: Guggenheim Partners Investment Management, LLC, Security Investors, LLC, Guggenheim Funds Distributors, LLC, Guggenheim Funds Investment Advisors, LLC, Guggenheim Partners Advisors, LLC, Guggenheim Corporate Funding, LLC, Guggenheim Partners Europe Limited, Guggenheim Partners Japan Limited, GS GAMMA Advisors, LLC, and Guggenheim Partners India Management.
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Mar 3, 2023
Episode 30: The Structured Credit Value Proposition Right Now
Karthik Narayanan, Head of Securitized for Guggenheim Investments, gives a master class in structured credit, including where he is finding attractive absolute and relative value in mortgage-backed securities, asset-backed securities, and collateralized loan obligations. U.S. Economist Matt Bush discusses the resilience of recent economic data and what it means for the Federal Reserve’s inflation fight. (Structured credit is complex and may not suitable for all investors.)
Related Insights:
1Q23 Fixed-Income Sector Views
Valuations have reset after a volatile year.
Read Fixed-Income Sector Views
1Q23 High-Yield and Bank Loan Outlook
Move up in quality ahead of any recession-driven market volatility.
Read High-Yield and Bank Loan Outlook
Market Commentary: Investors Should Not Expect Much Relief from Volatility
The transition to a world of quantitative tightening will lead to reduced liquidity, capital rationing and persistent swings in asset prices.
Read Market Commentary
Investing involves risk, including the possible loss of principal.
This material is not intended as a recommendation or as investment advice of any kind, including in connection with rollovers, transfers, and distributions. Such material is not provided in a fiduciary capacity, may not be relied upon for or in connection with the making of investment decisions, and does not constitute a solicitation of an offer to buy or sell securities. All content has been provided for informational or educational purposes only and is not intended to be and should not be construed as legal or tax advice and/or a legal opinion. Always consult a financial, tax and/or legal professional regarding your specific situation.
This material contains opinions of the author or speaker, but not necessarily those of Guggenheim Partners, LLC or its subsidiaries. The opinions contained herein are subject to change without notice. Forward-looking statements, estimates, and certain information contained herein are based upon proprietary and non-proprietary research and other sources. Information contained herein has been obtained from sources believed to be reliable, but are not assured as to accuracy. Past performance is not indicative of future results. There is neither representation nor warranty as to the current accuracy of, nor liability for, decisions based on such information.
Guggenheim Investments represents the following affiliated investment management businesses: Guggenheim Partners Investment Management, LLC, Security Investors, LLC, Guggenheim Funds Distributors, LLC, Guggenheim Funds Investment Advisors, LLC, Guggenheim Partners Advisors, LLC, Guggenheim Corporate Funding, LLC, Guggenheim Partners Europe Limited, Guggenheim Partners Japan Limited, GS GAMMA Advisors, LLC, and Guggenheim Partners India Management.
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Feb 17, 2023
Episode 29: Balancing Caution and Opportunity in Active Fixed-Income Portfolios
Steve Brown, Chief Investment Officer for Total Return and Macro Strategies for Guggenheim Investments, shares a CIO’s unique perspective on active portfolio management in a time of higher yields and macroeconomic complexity. He discusses recent economic data, relative value opportunities, and the importance of making asset allocation decisions for a range of different outcomes.
Related Insights:
Market Commentary: Investors Should Not Expect Much Relief from Volatility
The transition to a world of quantitative tightening will lead to reduced liquidity, capital rationing and persistent swings in asset prices.
Read Market Commentary
10 Macroeconomic Themes for 2023
10 charts illustrate the macroeconomic trends we believe are most likely to shape the investment environment in 2023.
Read 10 Macro Themes
1Q23 High-Yield and Bank Loan Outlook
Move up in quality ahead of any recession-driven market volatility.
Read High-Yield and Bank Loan Outlook
Investing involves risk, including the possible loss of principal.
This material is not intended as a recommendation or as investment advice of any kind, including in connection with rollovers, transfers, and distributions. Such material is not provided in a fiduciary capacity, may not be relied upon for or in connection with the making of investment decisions, and does not constitute a solicitation of an offer to buy or sell securities. All content has been provided for informational or educational purposes only and is not intended to be and should not be construed as legal or tax advice and/or a legal opinion. Always consult a financial, tax and/or legal professional regarding your specific situation.
This material contains opinions of the author or speaker, but not necessarily those of Guggenheim Partners, LLC or its subsidiaries. The opinions contained herein are subject to change without notice. Forward-looking statements, estimates, and certain information contained herein are based upon proprietary and non-proprietary research and other sources. Information contained herein has been obtained from sources believed to be reliable, but are not assured as to accuracy. Past performance is not indicative of future results. There is neither representation nor warranty as to the current accuracy of, nor liability for, decisions based on such information.
Guggenheim Investments represents the following affiliated investment management businesses: Guggenheim Partners Investment Management, LLC, Security Investors, LLC, Guggenheim Funds Distributors, LLC, Guggenheim Funds Investment Advisors, LLC, Guggenheim Partners Advisors, LLC, Guggenheim Corporate Funding, LLC, Guggenheim Partners Europe Limited, Guggenheim Partners Japan Limited, GS GAMMA Advisors, LLC, and Guggenheim Partners India Management.
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Feb 7, 2023
Episode 28: Fed Day, Jobs Day, and 10 Macro Themes
Brian Smedley, Chief Economist and Head of the Macroeconomic and Investment Research Group, discusses the Fed rate decision, recent inflation, labor, and GDP data, and possible next steps for monetary policy. He also provides key takeaways for investors from our 10 Macroeconomic Themes for 2023.
Related Insights:
10 Macroeconomic Themes for 2023
10 charts illustrate the macroeconomic trends we believe are most likely to shape the investment environment in 2023.
Read 10 Macro Themes
1Q23 High-Yield and Bank Loan Outlook
Move up in quality ahead of any recession-driven market volatility.
Read High-Yield and Bank Loan Outlook
“Right Now, the Fixed-Income Story is a Good One”
Anne Walsh, Chief Investment Officer for Guggenheim Partners Investment Management, joined CNBC in Davos to discuss her outlook for Federal Reserve (Fed) policy, the coming recession, and the positive backdrop for bonds.
Watch Video
Investing involves risk, including the possible loss of principal.
This material is not intended as a recommendation or as investment advice of any kind, including in connection with rollovers, transfers, and distributions. Such material is not provided in a fiduciary capacity, may not be relied upon for or in connection with the making of investment decisions, and does not constitute a solicitation of an offer to buy or sell securities. All content has been provided for informational or educational purposes only and is not intended to be and should not be construed as legal or tax advice and/or a legal opinion. Always consult a financial, tax and/or legal professional regarding your specific situation.
This material contains opinions of the author or speaker, but not necessarily those of Guggenheim Partners, LLC or its subsidiaries. The opinions contained herein are subject to change without notice. Forward-looking statements, estimates, and certain information contained herein are based upon proprietary and non-proprietary research and other sources. Information contained herein has been obtained from sources believed to be reliable, but are not assured as to accuracy. Past performance is not indicative of future results. There is neither representation nor warranty as to the current accuracy of, nor liability for, decisions based on such information.
Guggenheim Investments represents the following affiliated investment management businesses: Guggenheim Partners Investment Management, LLC, Security Investors, LLC, Guggenheim Funds Distributors, LLC, Guggenheim Funds Investment Advisors, LLC, Guggenheim Partners Advisors, LLC, Guggenheim Corporate Funding, LLC, Guggenheim Partners Europe Limited, Guggenheim Partners Japan Limited, GS GAMMA Advisors, LLC, and Guggenheim Partners India Management.
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Dec 15, 2022
Episode 27: Minerd on the Fed and Investing Heading into 2023
Scott Minerd, Global CIO for Guggenheim Partners and Chairman of Guggenheim Investments, joins the year-end episode of Macro Markets on Fed Day for a wide-ranging discussion of the Federal Reserve’s execution of monetary policy, economic conditions, the investment landscape for risk assets, portfolio strategy, and more.
Related Insights
Global CIO Outlook: That Sound You Hear is the Fed Breaking Something
The Federal Reserve (Fed) is closer to the end of its tightening cycle, but is clearly not done. October will test the Fed’s resolve.
Read Global CIO Outlook
CIO Outlook: For Lessons on Fighting Inflation, Skip Over Volcker to 1946
Clues from history on how to successfully end the current surge in prices.
Read Global CIO Outlook
Investing involves risk, including the possible loss of principal.
This material is not intended as a recommendation or as investment advice of any kind, including in connection with rollovers, transfers, and distributions. Such material is not provided in a fiduciary capacity, may not be relied upon for or in connection with the making of investment decisions, and does not constitute a solicitation of an offer to buy or sell securities. All content has been provided for informational or educational purposes only and is not intended to be and should not be construed as legal or tax advice and/or a legal opinion. Always consult a financial, tax and/or legal professional regarding your specific situation.
Guggenheim Investments represents the following affiliated investment management businesses: Guggenheim Partners Investment Management, LLC, Security Investors, LLC, Guggenheim Funds Distributors, LLC, Guggenheim Funds Investment Advisors, LLC, Guggenheim Partners Advisors, LLC, Guggenheim Corporate Funding, LLC, Guggenheim Partners Europe Limited, Guggenheim Partners Japan Limited, GS GAMMA Advisors, LLC, and Guggenheim Partners India Management.
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Dec 8, 2022
Episode 26: Mortgage-Backed Securities, Structured Credit, Market Liquidity
Karthik Narayanan, Head of Securitized for Guggenheim Investments, discusses the structure and value in the residential mortgage-backed securities market and other ABS sectors. Anne Walsh, Chief Investment Officer for Fixed Income, answers a listener question on liquidity. Jerry Cai, an economist in our Macroeconomic and Investment Research Group, brings the latest on the labor picture and an update on China.
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Nov 16, 2022
Episode 25: Fixed-Income Pain Giving Way to Opportunity
Anne Walsh, Chief Investment Officer for Fixed Income, joins the podcast to give her analysis of where we are in the economic and credit cycle, and her views on risk and opportunity across the fixed income landscape.
Related Insights
Fourth Quarter 2022 Fixed-Income Sector Views
Market and value updates by sector
Read Fixed-Income Sector Views
The Jobs Data Trend Is Duration’s Friend
October jobs data suggests a cooling labor market
Read Macro Alert
Markets Rally After Weak CPI Data
Scott Minerd, Guggenheim Partners Global CIO and Chairman of
Guggenheim Investments, joins CNBC to discuss markets on CPI day.
Watch Video
Investing involves risk, including the possible loss of principal.
This material is not intended as a recommendation or as investment advice of any kind, including in connection with rollovers, transfers, and distributions. Such material is not provided in a fiduciary capacity, may not be relied upon for or in connection with the making of investment decisions, and does not constitute a solicitation of an offer to buy or sell securities. All content has been provided for informational or educational purposes only and is not intended to be and should not be construed as legal or tax advice and/or a legal opinion. Always consult a financial, tax and/or legal professional regarding your specific situation.
This material contains opinions of the author or speaker, but not necessarily those of Guggenheim Partners, LLC or its subsidiaries. The opinions contained herein are subject to change without notice. Forward-looking statements, estimates, and certain information contained herein are based upon proprietary and non-proprietary research and other sources. Information contained herein has been obtained from sources believed to be reliable, but are not assured as to accuracy. Past performance is not indicative of future results. There is neither representation nor warranty as to the current accuracy of, nor liability for, decisions based on such information.
Guggenheim Investments represents the following affiliated investment management businesses: Guggenheim Partners Investment Management, LLC, Security Investors, LLC, Guggenheim Funds Distributors, LLC, Guggenheim Funds Investment Advisors, LLC, Guggenheim Partners Advisors, LLC, Guggenheim Corporate Funding, LLC, Guggenheim Partners Europe Limited, Guggenheim Partners Japan Limited, GS GAMMA Advisors, LLC, and Guggenheim Partners India Management.
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Oct 27, 2022
Episode 24: Yields & Spreads: Are We Getting Paid for Taking Risk in Today’s Market?
Investment Strategist Maria Giraldo takes us through the fixed-income market to evaluate risk and return prospects with spreads near their historical wides and bond prices at levels not seen in decades. Jerry Cai, an economist in the Macroeconomic and Investment Research Group, provides an update on the latest macro data. Also, we answer listener mail.
Related Content:
Global CIO Outlook: That Sound You Hear is the Fed Breaking Something
The Federal Reserve (Fed) is closer to the end of its tightening cycle, but is clearly not done.
Read CIO Outlook
“A Once in a Generation Opportunity for Investors”
Scott Minerd, Chairman of Guggenheim Investments and Guggenheim Partners Global CIO, joined CNBC to discuss opportunities for investors in a market beset by policy and economic challenges.
Watch Video
2022’s Upside: The Fed Has Put the Income Back in Fixed Income
Anne Walsh, Chief Investment Officer for Fixed Income at Guggenheim Investments, joined Asset TV to discuss macroeconomic conditions, risk, and relative value in the bond market.
Watch Video
Investing involves risk, including the possible loss of principal.
This material is not intended as a recommendation or as investment advice of any kind, including in connection with rollovers, transfers, and distributions. Such material is not provided in a fiduciary capacity, may not be relied upon for or in connection with the making of investment decisions, and does not constitute a solicitation of an offer to buy or sell securities. All content has been provided for informational or educational purposes only and is not intended to be and should not be construed as legal or tax advice and/or a legal opinion. Always consult a financial, tax and/or legal professional regarding your specific situation.
This material contains opinions of the author or speaker, but not necessarily those of Guggenheim Partners, LLC or its subsidiaries. The opinions contained herein are subject to change without notice. Forward-looking statements, estimates, and certain information contained herein are based upon proprietary and non-proprietary research and other sources. Information contained herein has been obtained from sources believed to be reliable, but are not assured as to accuracy. Past performance is not indicative of future results. There is neither representation nor warranty as to the current accuracy of, nor liability for, decisions based on such information.
Guggenheim Investments represents the following affiliated investment management businesses: Guggenheim Partners Investment Management, LLC, Security Investors, LLC, Guggenheim Funds Distributors, LLC, Guggenheim Funds Investment Advisors, LLC, Guggenheim Partners Advisors, LLC, Guggenheim Corporate Funding, LLC, Guggenheim Partners Europe Limited, Guggenheim Partners Japan Limited, GS GAMMA Advisors, LLC, and Guggenheim Partners India Management.
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Oct 13, 2022
Episode 23: A CIO’s View of the Bond Market
Steve Brown, Chief Investment Officer for Total Return and Macro Strategies for Guggenheim Investments, gives a CIO’s unique perspective on managing portfolios and market dynamics in a complex macro environment. He discusses credit performance, relative value in corporate and structured credit, duration strategy, risk management, and more. Paul Dozier, a Director in the Macroeconomic and Investment Research Group, provides an update on the latest macro data. Also, we answer listener mail.
Related Insights:
Global CIO Outlook: That Sound You Hear is the Fed Breaking Something
The Federal Reserve (Fed) is closer to the end of its tightening cycle, but is clearly not done. October will test the Fed’s resolve.
Read CIO Outlook
“We Are Seeing Cracks All Over the Place”
Scott Minerd, Chairman of Guggenheim Investments and Guggenheim Partners Global CIO, joins CNBC to discuss ramifications of aggressive Fed tightening.
Watch Video
3Q22 High-Yield and Bank Loan Outlook
Signposts for credit investors as next recession approaches
Read Report
Investing involves risk, including the possible loss of principal.
This material is not intended as a recommendation or as investment advice of any kind, including in connection with rollovers, transfers, and distributions. Such material is not provided in a fiduciary capacity, may not be relied upon for or in connection with the making of investment decisions, and does not constitute a solicitation of an offer to buy or sell securities. All content has been provided for informational or educational purposes only and is not intended to be and should not be construed as legal or tax advice and/or a legal opinion. Always consult a financial, tax and/or legal professional regarding your specific situation.
Guggenheim Investments represents the following affiliated investment management businesses: Guggenheim Partners Investment Management, LLC, Security Investors, LLC, Guggenheim Funds Distributors, LLC, Guggenheim Funds Investment Advisors, LLC, Guggenheim Partners Advisors, LLC, Guggenheim Corporate Funding, LLC, Guggenheim Partners Europe Limited, Guggenheim Partners Fund Management (Europe) Limited, Guggenheim Partners Japan Limited, GS GAMMA Advisors, LLC, and Guggenheim Partners India Management.
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Sep 28, 2022
Episode 22: Investors’ Guide to the Fed’s Hard Landing
In the newest episode of our award-winning podcast, Brian Smedley, Chief Economist and Head of the Macroeconomic and Investment Research Group, covers a lot of ground in his analysis of the Federal Reserve’s third straight 75 basis point rate hike. He discusses how monetary policy is intended to tame inflation, the Fed’s reaction function going forward, and possible recession timing, as well as the U.S. dollar’s relative strength and foreign central bank responses. With the Fed now embracing a “hard landing,” what should investors be thinking about?
Fed Day: The Argument for 100 Basis Points
Scott Minerd, Guggenheim Partners Global CIO and Chairman of Guggenheim Investments, joins Bloomberg TV on Fed Day (September 2022)
Watch Video
3Q22 Fixed-Income Sector Views
Relative Value and performance drivers across fixed-income sectors.
Read Report
3Q22 High-Yield and Bank Loan Outlook
Signposts for credit investors as next recession approaches
Read Report
Investing involves risk, including the possible loss of principal. This material is not intended as a recommendation or as investment advice of any kind, including in connection with rollovers, transfers, and distributions. Such material is not provided in a fiduciary capacity, may not be relied upon for or in connection with the making of investment decisions, and does not constitute a solicitation of an offer to buy or sell securities. All content has been provided for informational or educational purposes only and is not intended to be and should not be construed as legal or tax advice and/or a legal opinion. Always consult a financial, tax and/or legal professional regarding your specific situation.
Guggenheim Investments represents the following affiliated investment management businesses: Guggenheim Partners Investment Management, LLC, Security Investors, LLC, Guggenheim Funds Distributors, LLC, Guggenheim Funds Investment Advisors, LLC, Guggenheim Partners Advisors, LLC, Guggenheim Corporate Funding, LLC, Guggenheim Partners Europe Limited, Guggenheim Partners Fund Management (Europe) Limited, Guggenheim Partners Japan Limited, GS GAMMA Advisors, LLC, and Guggenheim Partners India Management.
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Sep 15, 2022
Episode 21: Measuring Sustainable Infrastructure
Jim Pass, head of project finance for Guggenheim Investments, and Kate Newman from the World Wildlife Fund talk about the most recent research collaboration between Guggenheim and WWF, a survey of infrastructure investors and developers. Read the report here.
Related Insights:
3Q22 High-Yield and Bank Loan Outlook
Signposts for credit investors as next recession approaches
Read Report
3Q22 Fixed-Income Sector Views
Relative Value and performance drivers across fixed-income sectors.
Read Report
Stocks Are in Trouble if S&P Fails To Break Above its 200-day Moving Average
Deeper losses for equities may lay ahead.
Read Macro Alert
Investing involves risk, including the possible loss of principal. This material is not intended as a recommendation or as investment advice of any kind, including in connection with rollovers, transfers, and distributions. Such material is not provided in a fiduciary capacity, may not be relied upon for or in connection with the making of investment decisions, and does not constitute a solicitation of an offer to buy or sell securities. All content has been provided for informational or educational purposes only and is not intended to be and should not be construed as legal or tax advice and/or a legal opinion. Always consult a financial, tax and/or legal professional regarding your specific situation.
Guggenheim Investments represents the following affiliated investment management businesses: Guggenheim Partners Investment Management, LLC, Security Investors, LLC, Guggenheim Funds Distributors, LLC, Guggenheim Funds Investment Advisors, LLC, Guggenheim Partners Advisors, LLC, Guggenheim Corporate Funding, LLC, Guggenheim Partners Europe Limited, Guggenheim Partners Fund Management (Europe) Limited, Guggenheim Partners Japan Limited, GS GAMMA Advisors, LLC, and Guggenheim Partners India Management.
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Aug 18, 2022
Episode 20: For the Fed, the Devil is in the Data; Agency MBS Update
Matt Bush, Guggenheim’s US economist, discusses the fast-moving economic data and what it might mean for the future course of monetary policy. Aditya Agrawal, head of the Agency MBS Sector Team, reports on developments in his sector, which is directly affected by the Fed's balance sheet management.
3Q22 Fixed-Income Sector Views
Relative Value and performance drivers across fixed-income
sectors.
Read Fixed-Income Sector Views
The Inflation Moderation We Expected Should Continue
Lower July CPI inflation is likely the beginning of a trend.
Read Macro Alert
CIO Mid-Year Outlook
Steve Brown, CIO for Total Return and Macro Strategies, joins Asset TV’s CIO Mid-Year Outlook Masterclass to discuss multi-asset solutions for the market ahead.
Watch Video
Investing involves risk, including the possible loss of principal.
This material is not intended as a recommendation or as investment advice of any kind, including in connection with rollovers, transfers, and distributio…
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Aug 4, 2022
Episode 19: A Close Look at Hotel Real Estate/Macro Update
Jenny Marler, head of Guggenheim Real Estate, focuses on hotels and hospitality, one of the real estate sectors hardest hit by the pandemic. Jerry Cai, a Vice President in the Guggenheim Investments Macroeconomic and Investment Research Group provides an update on latest Federal Reserve decision and other macro developments. We also answer a listener’s question. If you have a question to direct to the podcast, please email macromarkets@guggenheiminvestments.com.
Related Insights:
3Q22 Fixed-Income Sector Views
Relative Value and performance drivers across fixed-income sectors.
Read Quarterly Market Review
CIO Mid-Year Outlook
Steve Brown, CIO for Total Return and Macro Strategies, joins Asset TV’s CIO Mid-Year Outlook Masterclass to discuss multi-asset solutions for the market ahead.
Watch Video
Investing involves risk, including the possible loss of principal.
This material is not intended as a recommendation or as investment advice of any kind, including in connection…
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Jul 21, 2022
Episode 18: Investment-Grade Corporates and the Macro Backdrop
Episode 18: Investment-Grade Corporates and the Macro Backdrop
Thursday, July 21
Justin Takata, head of Guggenheim’s Investment-Grade Sector Team, discusses the technical and fundamental drivers of value in his market. Guggenheim’s U.S. Economist Matt Bush reviews the latest CPI and jobs data, and outlines his views on recession timing and the possible progression of monetary policy. We also answer a listener’s question about fixed-income funds in retirement plans. If you have a question to direct to the podcast, please email macromarkets@guggenheiminvestments.com.
Related Content
1. Recession Signals Flashing Red The latest data suggest we may already be in a recession.
Read Macro Alert
2. CIO Midyear Outlook
Steve Brown, CIO for Total Return and Macro Strategies, joins Asset TV’s CIO Mid-Year Outlook MasterClass to discuss multi-asset solutions for the market ahead.
Watch Video
Investing involves risk, including the possible loss of principal.
This material is distr…
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Jul 6, 2022
Episode 17: Fixed Income in Retirement Plans
In Episode 17: “Fixed Income in Retirement Plans” (July 6, 2022), portfolio manager Adam Bloch, a managing director and a leader of our total return team, discusses economic and market conditions in fixed income, and offers perspective on considerations for plan sponsors, advisors, and plan participants when evaluating the bond allocation in retirement accounts. If you have a question to direct to the podcast, please email macromarkets@guggenheiminvestments.com.
Related Insights:
Recession Signals Flashing Red
The latest data suggest that we may already be in a recession.
Read Macro Alert
Investing involves risk, including the possible loss of principal.
This material is not intended as a recommendation or as investment advice of any kind, including in connection with rollovers, transfers, and distributions. Such material is not provided in a fiduciary capacity, may not be relied upon for or in connection with the making of investment decisions, and does not constitute a s…
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Jun 23, 2022
Episode 16: Fed Watch: A Deep Dive into 75
Brian Smedley, Guggenheim’s Chief Economist and Head of Macroeconomic and Investment Research, discusses the impact of the Fed’s 0.75% rate hike on markets and the economy.
If you have a question you would like to direct to the podcast, please email macromarkets@guggenheiminvestments.com
Related Insights:
Macro Markets Podcast: Episode #15
Paul Dozier on how stocks have performed in midterm election years, and head of foreign exchange Cameron Crosby discusses the currency markets.
Listen to Macro Markets Podcast Ep. 15
Credit Returns in the Upcoming Fed Hiking Cycle
The outlook for credit amid rising inflation, monetary tightening and war in Europe
Read High-Yield and Bank Loan Report
Investing involves risk, including the possible loss of principal.
This material is not intended as a recommendation or as investment advice of any kind, including in connection with rollovers, transfers, and distributions. Such material is not provided in a fiduciary capacity, may not be re…
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Jun 9, 2022
Episode 15: Mid-Term Election Markets, Currencies, the Neutral Rate
Paul Dozier, a Director in the Guggenheim Investments Macroeconomic and Investment Research Group discusses the performance of equity markets during mid-term election years and provides an update on the latest economic data. Head of Guggenheim’s foreign exchange and derivatives trading desk, Managing Director Cameron Crosby, shares the latest on the currency markets. We also answer a listener’s question about the neutral rate.
If you have a question you would like to direct to the podcast, please email macromarkets@guggenheiminvestments.com
Related Insights:
Macro Markets Podcast: Episode #13
U.S. Economist Matt Bush analyzes the latest Fed announcement and labor and inflation data, Investment Strategist Maria Giraldo discusses credit risk while the Fed tightens, and Managing Director Chris Keywork updates on the bank loan market.
Listen to Macro Markets Podcast Ep. 13
Fed Aggressiveness Following Delayed Liftoff Sets Up 2023 Collision
The risks of tightening into a downturn…
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May 26, 2022
Episode 14: FOMC Minutes and Listener Mail
Matt Bush, Guggenheim Investments’ U.S. Economist, provides an update on the macroeconomic outlook, including his analysis of the minutes from the last FOMC meeting. We also answer listener questions.
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May 12, 2022
Episode 13: The Fed, Credit Quality, and Bank Loans
Matt Bush, a Managing Director and Guggenheim’s US Economist analyzes the latest Fed announcement and labor and inflation data, and offers his views on what investors can expect as policy starts to take hold. Maria Giraldo, a Managing Director and investment strategist in the Macroeconomic and Investment Research Group, discusses the fundamentals, relative value, and future prospects for credit risk while the Fed tightens. And the head of Guggenheim’s bank loan desk, Managing Director Chris Keywork, provides an update on his sector, which remains a market favorite and a positive outlier in the fixed-income universe.
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Apr 28, 2022
Episode 12: Muni Market Update
Allen Li, Managing Director and Head of Guggenheim’s Municipal Bond Sector Team, discusses technical and fundamental drivers of the taxable and tax-exempt municipal market, and why it might be a good time to buy. Also, with the Fed poised to ramp up policy tightening and ongoing supply disruptions from lockdowns in China and the war in Ukraine, Paul Dozier, a Director in the Macroeconomic and Investment Research Group, brings us up to date on the economic outlook.
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Apr 14, 2022
Episode 11: The ABCs of ABS
Karthik Narayanan, Head of the Structured Credit group for Guggenheim Investments, and Jared Drucker, a Director and senior member of the group, join Head of Thought Leadership Jay Diamond for a timely discussion of ABS, MBS, and CLOs, how the market has been responding to rapidly changing market conditions, and where they are finding value now. Matt Bush, US Economist for Guggenheim Investments, looks under the hood of the latest CPI release and shares his take on the Minutes from the March FOMC meeting.
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Mar 31, 2022
Episode 10: The Case for Bonds Now
Steve Brown, Assistant Chief Investment Officer for Guggenheim Investments, discusses the drivers of first quarter market volatility, portfolio management decision making, and the case for bonds now. Also featuring Aditya Agrawal, Head of the Agency MBS Sector Team, and Jerry Cai, a Vice President in the Macroeconomic and Investment Research Group.
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Mar 18, 2022
Episode 9: The Fed, Ukraine, and More
Brian Smedley, Chief Economist for Guggenheim Investments and Head of our Macroeconomic and Investment Research Group, joins Jay Diamond, Head of Thought Leadership, to discuss the economic and market impact of the FOMC decision, war in Ukraine, and much more.
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Mar 2, 2022
Episode 8: March 2, 2022
Anne Walsh, Guggenheim Investments CIO for Fixed Income, discusses risk, opportunity, and the benefits of active portfolio management. Also featuring Jenny Marler, head of Guggenheim Real Estate, with an update on the retail sector, and Paul Dozier, a director in the Macroeconomic and Investment Research Group, does a deep dive on developments in Ukraine and recent economic data releases.
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Feb 16, 2022
Episode 7: February 16, 2022
An update on the investment grade corporate bond market in the wake of the latest CPI inflation data and the expected removal of monetary policy accommodation. Featuring Justin Takata, Managing Director and Head of Investment Grade Corporate Credit Sector Team, and Paul Dozier, Director in the Macroeconomic and Research Group.
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Feb 3, 2022
Episode 6: February 3, 2022
Floating rate assets and credit should perform well as monetary policy changes course. Featuring Matt Bush, U.S. economist and a managing director in our Macroeconomic and Investment Research Group; Adam Bloch, portfolio manager and one of the leaders of our Total Return team; and Karthik Narayanan, managing director and head of Guggenheim’s Structured Credit Team.
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Jan 19, 2022
Episode 5: January 19, 2022
Topics include an economic update with a focus on inflation data, a report on the yield curve and rates, and a discussion of sustainable infrastructure. Featuring Tad Nygren, managing director and head of Guggenheim’s Rates Sector Team; Jerry Cai, a vice president in the Macroeconomic and Investment Research Group; and Jim Pass, a senior managing director and head of project finance in conversation with Jay Diamond, Head of Thought Leadership.
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Dec 15, 2021
Episode 4: December 15, 2021
Discussion of the economic and market backdrop to today’s Fed decision, and themes for next year. Featuring Assistant Chief Investment Officer Steve Brown and Chief Economist Brian Smedley.
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Dec 2, 2021
Episode 3: December 2, 2021
Topics this week include the pace of QE tapering and the omicron variant, fundamentals in municipal bonds, and developments in the bank loan market, which is an important asset class for Guggenheim’s Floating Rate Strategies Fund, which just achieved its 10-year anniversary. Featuring Allen Li, Managing Director and Head of Guggenheim’s Municipal Bond Sector Team; Paul Dozier, a Director in the Macroeconomic and Investment Research Group; and Brian DePaulo, a Director and Portfolio Manager for corporate loan strategies, in discussion with Jay Diamond, Head of Thought Leadership.
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Nov 17, 2021
Episode 2: November 17, 2021
In this week’s podcast, our experts discuss recent inflation data and its potential impact on monetary policy, record deal flows in real estate, and the outlook for credit risk and return. Featuring Matt Bush, Director and U.S. economist; Jenny Marler, Senior Managing Director and Head of Guggenheim Real Estate; Maria Giraldo, Managing Director and investment strategist in the Macroeconomic and Investment Research Group in discussion with Jay Diamond, Head of Thought Leadership.
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Nov 5, 2021
Episode 1: November 4, 2021
Justin Takata, Managing Director and Head of Investment Grade Corporate Credit Sector Team; Paul Dozier, Director in the Macroeconomic and Research Group; Adam Bloch, Managing Director and Portfolio Manager discussion with Jay Diamond, Head of Thought Leadership.
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