In this special topical video, Senior Vice President – Investment Specialist Katie Klingensmith hosts Portfolio Managers Brian Kloss and Bill Zox in a discussion on recent banking sector troubles and their impact on U.S. and global credit markets.
Across fixed income, the effects on credit markets have been acute. Through the lenses of both U.S. corporate credit and global, multi-sector relative opportunities, they look at the implications for:
- Private markets, including private credit and leveraged loans
- Mortgage-backed securities, particularly commercial mortgage-backed securities
- The banking sector, especially U.S. regional banks
While Bill, Brian, and Katie are confident that a broader crisis will be averted, they see a high likelihood for ongoing near-term volatility and longer-term economic fallout. However, market disruptions also create opportunities, and they cap their discussion with where and on what they will focus going forward – including finding opportunities in the near term.
Press play below to watch the full commentary.
Groupthink is bad, especially at investment management firms. Brandywine Global therefore takes special care to ensure our corporate culture and investment processes support the articulation of diverse viewpoints. This blog is no different. The opinions expressed by our bloggers may sometimes challenge active positioning within one or more of our strategies. Each blogger represents one market view amongst many expressed at Brandywine Global. Although individual opinions will differ, our investment process and macro outlook will remain driven by a team approach.