Know More. Risk Better.

Season 9, Episode 2 This week on the “Know More Risk Better” podcast, Logan Miller, Head of European Strategy at CreditSights, and Zachary Griffiths, Head of IG & Macro Strategy, are joined by Cedric Chahab, Chief Economist at BMI, for a sweeping discussion on the forces shaping global credit markets as we enter the second half of 2025. The trio examines why European markets are riding a wave of optimism—even as underlying growth remains tepid—and how US markets compare amid fiscal stimulus, banking reform, and policy uncertainty. They dig into the impact of tariffs, potential risks from Fed independence debates, and the evolving roles of private credit, banking regulation, and crypto in the market ecosystem. Whether you’re an investor navigating credit spreads, a policymaker watching fiscal trends, or simply a market observer, this extra-long episode offers a candid, data-driven look at the tailwinds and headwinds facing transatlantic credit.

The Global Strategy Team at CreditSights kick off our new series with an extra long episode casting a timely look ahead at US, Euro, and EM Sovereign credit as we enter 2H25 and set our sights on early 2026. Our global strategy team consists of Winnie Cisar, Global Head of Strategy, Zachary Griffiths, Head of IG & Macro Strategy, Logan Miller, Head of European Strategy, Regis Chatellier, Head of EM Sovereign Strategy & Zerlina Zeng, Head of Asia Credit Strategy. Join our experts as they break down the latest macro trends, sector fundamentals, and market catalysts shaping these regions, highlighting actionable risks and opportunities amid shifting policy landscapes. From updated US credit strategies and Euro issuer themes to EM volatility and country-specific outlooks, this podcast offers invaluable intelligence for navigating the evolving global credit environment.

This week on the “Know More Risk Better” podcast, Winnie Cisar, Global Head of Strategy at CreditSights, is joined by Kerry Kantin, US Bureau Chief for LFI, to examine the pulse of the broadly syndicated loan (BSL) market as we approach the second half of 2025. They dive into the factors driving BSL activity, from macro volatility and tariff headlines to the technical dynamics fueling tight spreads and strong investor demand. The conversation explores the cautious optimism among investors, the impact of Fed policy expectations, and why the much-anticipated M&A and LBO wave remains on hold. Kerry also discusses creative deal flow solutions, the interplay between BSL and private credit, and the outlook for new issuance versus repayments. This episode is a must-listen for anyone navigating leveraged finance, seeking expert, data-driven insights on credit markets in a year full of surprises.

Mark Rosenberg, founder of GeoQuant and a PhD in political science, discusses the alarming rise of U.S. political and geopolitical risk. He highlights how social polarization and institutional conflict are aligning U.S. risk profiles with those of emerging markets. The conversation dives into the ripple effects on Treasury yields and equity markets amidst the backdrop of Middle East tensions. Rosenberg offers data-driven insights on the evolving landscape and the implications for investors navigating these complexities.

This week on the “Know More Risk Better” podcast, Logan Miller, Head of European Strategy, is joined by Mark Chapman, Senior Analyst and Head of European Telecom and Media Sectors at CreditSights, to explore the evolving landscape of European telecommunications. They discuss the sector's turnaround since 2019, driven by increased demand during the pandemic and a shift towards fiber technology. The episode also covers the impact of macroeconomic factors, competitive dynamics, and M&A trends on the sector. Ideal for those seeking a comprehensive understanding of current telecom trends and potential risks, this episode is a must-listen for anyone interested in European telecom investments, complete with expert insights on market opportunities and challenges.

James Goldstein, a Senior Retail Analyst at Credit Sites, and Jim Dunn, a Senior Consumer Analyst, dive into the current state of the US consumer landscape. They analyze the Q1 retail earnings, highlighting the disparity between demand for essentials versus discretionary goods amid economic uncertainty. The discussion also touches on consumer behavior following 'Liberation Day,' revealing resilience in spending, particularly in travel. They further explore the impacts of tariffs and inflation on pricing strategies and uncover potential investment opportunities in a shifting market.

Michael Kooiman, a retail business owner from Charlotte, NC, shares his expert insights on the challenges small and medium enterprises face due to tariffs, especially regarding Christmas and outdoor furniture imports from China. He discusses the complex impacts of tariffs on supply chains, prompting businesses to seek alternatives. The conversation also touches on evolving consumer spending trends as the holiday season approaches, revealing both optimism and challenges in adapting to economic uncertainty.

This week on the “Know More Risk Better” podcast, Logan Miller, Head of European Strategy, is joined by Laurent Vergnault, Head of Chemicals and Packaging, Europe and Felicity Juckes, Lead Analyst, Paper and Packaging, Europe as they delve into tariffs and the recent de-escalation between the US and its largest trading partners. This episode also examines the fundamentals for Chems and Paper and Packaging and new issue trends between sectors. Ideal for those seeking a comprehensive understanding of current industry trends and potential risks, this episode is a must-listen for anyone interested in the European industrial scene, complete with the experts' picks and pans. 

This week on the "Know More Risk Better" podcast, Winnie Cisar, CreditSights Head of Strategy, is joined by Cedric Chehab, Chief Economist at BMI, and co-host Zach Griffiths, Head of U.S. Investment Grade and Macro Strategy at CreditSights. Together, they delve into the complex dynamics of the global macro landscape. This episode explores significant de-escalations in US trade tensions with the UK and China, highlighting potential boosts to growth and easing inflation concerns. Gain insights into the US dollar's recent fluctuations and their implications for global financial conditions. Discover how fiscal policies and deregulation could sustain US economic growth amidst uncertainties. Perfect for those seeking a pragmatic understanding of current market conditions and associated risks, this episode is a must-listen!

In the latest episode of "Know More, Risk Better," host and CreditSights Global Head of Strategy, Winnie Cisar, is joined by Zerlina Zeng, CreditSights Head of Asia Strategy, for a captivating discussion about Zerlina's recent trip to Hong Kong and Macau. Dive into the strategies top investors are using to navigate market volatility and their shift towards more defensive positions. Uncover the effects of US-China trade tensions and high rates volatility on global investment sentiment. This episode delves into opportunities in high-yield China industrial names and Hong Kong property, providing a fresh perspective on managing risks and finding value in unpredictable times. Tune in to explore how a potential prolonged US-China trade standoff could reshape global asset strategies and discover where savvy investors are placing their bets. Don't miss out on this chance to gain valuable insights and stay ahead in the complex world of international credits!