『Credit Matters by IGM』のカバーアート

Credit Matters by IGM

Credit Matters by IGM

著者: Informa Global Markets
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Join Shankar Ramakrishnan every week as he dissects the latest credit events, trends and deals with market insiders and Informa Global Markets' top analysts. Find out more about Informa Global Market's data services: https://informaconnect.com/igm/Copyright 2026 Informa Global Markets 個人ファイナンス 政治・政府 経済学
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  • Treasuries, Tides, and Two Trillion: Exploring the Bond Market Landscape
    2026/10/16

    Jessica Lehmann, Head of IG & EM Syndicate at HSBC, joins Shankar Ramakrishnan and Bruce Clark of IGM to discuss how the recent surge and intraday volatility in Treasury yields has dampened U.S. investment-grade issuance, with investors becoming more selective and demanding higher concessions, especially amid heavy TMT supply and jumbo deals like Skydance.

    Lehmann notes spreads remain tight (around 83) because all-in yields are still attractive, but argues risks are skewed toward wider spreads into year-end given macro volatility, Middle East conflict, inflation, elections, and potential Fed hikes, alongside compressed Q4 issuance windows.

    She says $2 trillion in 2024 IG supply is achievable (with $1.77 trillion already), emphasizing net new supply versus redemptions and coupons, and highlights technology and broader global, liability-driven demand reshaping execution and the investor base.

    Get in touch: For more information about how IGM's solutions can support your business, visit our website or contact us: https://informaconnect.com/igm/

    Follow us: Keep up to date with all the latest from IGM by following us on LinkedIn: https://www.linkedin.com/company/informa-global-markets

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    31 分
  • Can Systematic Investing Beat Human Emotion in Today's Bond Market?
    2026/10/09

    Paul Benson, Head of Systematic Fixed Income at Insight Investment, joins hosts Shankar Ramakrishnan and Bruce Clark of IGM to discuss recent high-yield market turbulence amid rising Treasury yields and risk aversion, and why “high yield is back” after years of low rates.

    Benson explains systematic (quantitative) fixed income as model-driven investing that reduces discretionary, emotion-led decisions and seeks alpha through cross-sectional dispersion across large bond universes. He argues today’s spreads and default expectations are often misunderstood in diversified indices, citing post-GFC rolling default rates and recovery rates that imply lower loss given default versus compensation from spreads, alongside improved issuer quality and reduced liquidity premia due to ETFs and portfolio trading.

    The conversation also covers rate uncertainty, issuance dynamics, carry and pull-to-par, and career advice emphasizing curiosity, problem-solving, competitiveness, and critical thinking with AI.

    Get in touch: For more information about how IGM's solutions can support your business, visit our website or contact us: https://informaconnect.com/igm/

    Follow us: Keep up to date with all the latest from IGM by following us on LinkedIn: https://www.linkedin.com/company/informa-global-markets

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    35 分
  • Why Australia Became the World's 3rd Largest Bond Market
    2026/09/25

    Brad Scott, Head of Debt Capital Markets in Australia at Bank of China, joins Shankar Ramakrishnan and Bruce Clark of IGM to discuss the rapid growth and increasing globalization of the Australian dollar bond market, including record issuance and the expanding role of non-Australian “kangaroo” issuers across sectors.

    Scott explains key drivers such as issuer and investor diversification, improved market depth and liquidity, higher yields attracting inflows, and the rising importance of Asian demand, while noting the market’s limits in absorbing very large corporate deals like Alphabet’s A$5.5 billion issue.

    The conversation covers RBA rate hikes, cross-currency swap dynamics, volatility and U.S. political risk impacts, Australia’s compulsory superannuation system as a structural support, growth in Tier 2 and hybrid issuance tied to regulatory changes and energy transition capex, and Scott’s career advice for graduates pursuing DCM.

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    47 分
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