Oaktree's Wayne Dahl on Credit Markets Right Now | Odd Lots
发布时间 2023-09-18 09:08:25 来源
摘要
In theory, the Federal Reserve operates by tightening the supply of credit. Or at least making it more close. Yet so far, despite the rate hikes, the economy has remained resilient. And credit spreads have remained surprisingly tight. So what's going on? Where are the risks? Why are some pockets of the credit markets showing weakness, while others are rock solid? On this episode of the podcast, which was recorded live at the Future Proof conference in Huntington Beach, California, we speak with Wayne Dahl, a managing director and investment risk officer at Oaktree Capital Management, to get a broader lay of the land.
Intro -- 0:00
How Oaktree thinks of risk — 3:03
Why are spreads still low? — 4:00
Why haven’t we seen more defaults? — 5:30
The looming maturity wall — 7:53
Areas with refi risks — 9:54
Froth in the leveraged loan market — 11:56
The balance of power between borrowers and lenders — 13:17
Private credit and mark-to-market — 14:34
The impact of the Fed’s corporate bond buying program — 19:16
Interest rate sensitivity of the economy — 24:01
The refi boom in housing — 24:47
ETFs and credit trading — 29:56
Commercial real estate — 31:40
What Wayne worries about now — 33:10
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Bloomberg's Joe Weisenthal and Tracy Alloway analyze the weird patterns, the complex issues and the newest market crazes. Join the conversation every Monday and Thursday for interviews with the most interesting minds in finance, economics and markets.
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