David Riley joins us on the BlueBay Insights podcast to update us on the latest economic data and shares highlights from his 2021 outlook.We asked David:There has been a huge amount of economic data and policy news over the last few weeks. What are the takeaways?You recently published your investment outlook for 2021. What are the key highlights?Are you concerned that our investment outlook is consensual?

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Podcast, Good riddance to 2020, hope for 2021 - David Riley

David Riley joins us on the BlueBay Insights podcast to discuss vaccine news, a credit wind-down in the US and the implications of the Biden administration.We asked David:Markets seem to be caught between good news on vaccines and bad news on the virus and growth.US Treasury Secretary Mnuchin has told the Fed to wind-down its credit facilities. What are the implications for the US credit market?President Trump has finally said that transition to the incoming Biden administration should go ahead. What is your view on what a Biden administration will look like?The UK Chancellor announced his spending review. What were the takeaways?

The good, bad and the ugly, 27 November 2020 David Riley

David Riley joins us on the BlueBay Insights podcast to discuss the impact of positive vaccine news on markets.We asked David:The excitement of the US elections was followed by positive news on a COVID vaccine. Is the vaccine news a game-changer for markets?With the rally in risk markets post the US election and now with the vaccine news, can it continue and what are the broad asset implications?You mention bumps in the road – where could they come from?

V is for Vaccine, 13 November 2020 David Riley

David Riley joins us on the BlueBay Insights podcast to share initial thoughts on the US election, fiscal stimulus in Europe and a market rally.We asked David:Where do we stand right now in terms of the US presidential election?Is there a chance of a contested election?You have previously highlighted the importance of which party controls the Senate. What happened in the Senate race?Why did markets rally through yesterday despite the uncertainty around the US elections?What do you think are the market implications of a Biden presidency and split Congress?Finally to Europe: the second wave of the virus in Europe has taken off and governments have announced tighter social distancing restrictions, what is the fiscal response?

Implications of the US elections, 5 November 2020 David Riley

David Riley joins us on the BlueBay Insights podcast to share his thoughts on the outlook for China, and the latest on the US election and Brexit.We asked David:There is a pick-up in coronavirus cases across Europe. What are the economic and market implications?This week is another Brexit deadline. What is the current state of play in EU – UK negotiations and outlook for the UK?Turning from UK to the world’s second biggest economy, what is the outlook for China?You mention the US elections and last week you published a note on the market implications. What are the key takeaways?What are your expectations for the third quarter corporate earnings?

Deadlines come and go... - David Riley

Polina Kurdyavko joins us on the BlueBay Insights podcast to share her perspectives on Emerging Markets.We asked Polina:How are Emerging Markets reacting to next month’s US election?We’ve recently seen an emerging-market corporate borrower issue debt with an ESG focus – do you think this will be a growing trend?The economic situation in Argentina appears to present a precarious outlook – can you share you view?

Emerging Markets outlook – Polina Kurdyavko

David Riley joins us on the BlueBay Insights podcast to update us on the market implications of the US elections.We asked David:Why have financial markets been choppy and without direction of late?We had the first US presidential debate this week. What is the current state of play in the US elections?What are the market implications of the US elections?

The state of play – David Riley

Tim Leary joins us on the BlueBay Insights podcast to update on high yield and leveraged finance markets, with a special focus on the subject of liquidity.We asked Tim:How does the global high-yield universe breakdown in terms of the US and European split? Are there any notable differences between the two regions that investors should be aware of?What percentage of the US HY market trades enough to be considered liquid?In terms of active versus passive investing – how significant is the ETF portion of the universe?As an active manager, how do you define liquidity?Did you learn anything from the coronavirus crisis period about best-practice liquidity management or anything that particularly surprised you as a seasoned investor?Could you give us a quick liquidity outlook for the asset class and some positioning highlights as we approach the final quarter of the year?

Liquidity in leveraged finance markets – Tim Leary

Senior ESG analyst, Lucy Byrne, joins us on the BlueBay Insights podcast to share her views on the impact of the COVID crisis on ESG investing.We asked Lucy:Has the appetite for ESG among investors increased during the COVID crisis?How has BlueBay’s ESG business been affected by the crisis?What is the rationale behind BlueBay’s ESG priorities for 2020 and where do you see areas for improvement?

ESG update – Lucy Byrne

David Riley joins us on the BlueBay Insights podcast to update us on the Brexit saga and the latest takeaways form the Fed.We asked David:Brexit has returned onto investors’ radar. What are your thoughts on the latest developments in the Brexit saga?What are your takeaways from the latest Fed meeting?

The return of the Brexit saga – David Riley

David Riley joins us on the BlueBay Insights podcast for his regular update on the latest economic data.We asked David:US Federal Reserve Chairman Jerome Powell’s speech at Jackson Hole is a big point of debate amongst investors. What is your view on the Fed’s new policy framework?What are you expecting from next week’s meeting of the European Central Bank?Equity and credit markets had another positive month in August. Do you expect the rally to continue?

A positive month for credit markets – David Riley

Tim Leary joins us on the BlueBay Insights podcast to update on high yield’s positive summer run, what might be to come in the default cycle and how influential ESG really is to leveraged finance investors.We asked Tim:High yield has had an encouraging summer run – July proved to be a notable month for the US market, which registered its largest monthly gain since October 2011. Has the investment opportunity largely topped out for the year or are you still seeing value?The second-quarter earnings season seemed broadly upbeat for high-yield companies – did any sectoral themes or surprises emerge in line with announcements?Moving onto the topic of defaults, we saw an initial wave in the early days of the pandemic, but things appear to have stabilised now. Could you talk us through your expectations for the shape of the default cycle?With ESG being both part of the BlueBay investment philosophy and a high-profile industry focus, can you comment on how important is it for you as an active investor in the high-yield market?Finally, could you talk us through any big risks or watchpoints that are on your investment horizon for the remainder of the year?

High yield’s summer run – Tim Leary

Polina Kurdyavko joins us on the BlueBay Insights podcast to share her perspectives on Emerging Markets.We asked Polina:After prolonged negotiations between the Argentine government and major bond holder groups, there seemed to be a swift end to restructuring talks. Firstly, were you surprised by the eventual agreement and secondly, what are the broader implications for the country?Considering the unfortunate circumstances surrounding the Beirut port explosion, how do you evaluate governance risk within the investment process?Staying in the same region, some investors have perceived the recent bout of Turkish lira weakness as a sign that Turkey appears to be on the brink of another Balance of Payments crisis. How is the current landscape different to August 2018 when USD/TRY first went above 7?Turning to technicals; flows into Emerging Market-dedicated bond funds have remained positive over the last few months, while EM-dedicated equity funds continue to see outflows. Do you expect this trend to continue?

David Riley joins us on the BlueBay Insights podcast to update us on the latest economic data, US-China relations and the upcoming US elections.We asked David:Since we last spoke there has been a raft of economic data. What does it tell us about the outlook for the global economy?In the second quarter, the UK economy contracted more than any other major economy – what’s the outlook for the UK?US-China relations appear to be going from bad to worse – why aren’t the markets reacting?You've just mentioned the US elections. Do you think that the market is now expecting a Biden victory?

From bad to worse – David Riley

David Riley joins us on the BlueBay Insights podcast to update us on the latest quarterly GDP figures from the US.We asked David:A theme that has emerged in markets is the weakness of the US dollar. Are we entering a dollar bear market?You mentioned the rise in the gold price and worries about central banks debasing currencies with money printing. What are the implications for fixed income investors?Our discussion is highlighting just how important the Fed is for markets. What is your takeaway from the latest Fed meeting?The second quarter US GDP figures have just been released – what did you learn?

A weaker US dollar – David Riley

BlueBay experts discuss their views on the market today.

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