Real Yield 7/9/2026
Спикеры
Zachary Griffiths
— Глава стратегии по облигациям инвестиционного уровня и макроэкономике США, CreditSights
Subadra Rajappa
— Глава отдела исследований, Societe Generale
Vineer Bhansali
— Редактор, The Economic Times
Geopolitical tensions and resilient inflation weigh on bonds as the Fed is expected to stay on hold. Record tech debt issuance pressures spreads, but Amazon’s recent deal looks like a buying opportunity. Meanwhile, high-quality CLOs attract demand for floating rate exposure, and CLO ETF assets top $50 billion.
- U.S. retaliatory strikes against Iran renew geopolitical and inflation fears.
- Fed minutes show rate hikes discussed but base case is on hold; long-end yields seen drifting lower.
- Tech giants issue massive debt to fund AI expansion, with Amazon’s $25B deal getting a softer reception.
- Loan repricing wave accelerates as limited new-money supply forces investors to accept lower coupons.
- High-quality CLOs are favored for floating rate exposure in a higher-for-longer rate environment.
- CLO ETF assets surpass $50 billion, with AAA tranches dominating, signaling a new influential investor base.
- Jersey City faces a budget deficit and a proposed 15% property tax hike.
- Ben Bernanke joins Anthropic’s oversight trust, highlighting AI’s broad economic impact.
Идеи
Long-end yields to fall on Fed hold
Base case is the Fed keeps policy on hold through year-end and well into next year, which would likely lead to even lower long-end bond yields.
Zachary Griffiths
Глава стратегии по облигациям инвестиционного уровня и макроэкономике США, CreditSights
27:27
Buy Amazon bonds on higher concessions
Amazon's $25 billion bond sale saw lower demand and wider concessions than typical, but the analyst rates Amazon an outperform and sees the higher concessions as a buying opportunity.
Zachary Griffiths
Глава стратегии по облигациям инвестиционного уровня и макроэкономике США, CreditSights
32:05
Buy high-quality CLOs for floating rate
With markets expecting rates to remain high, floating rate exposure becomes a tailwind versus fixed rate. High-quality CLOs capture that floating rate benefit while avoiding the riskiest credits, making them an attractive place to put cash.
Далее
This Bloomberg Markets video, published July 09, 2026, features Subadra Rajappa, Zachary Griffiths discussing Long-end U.S. Treasury bonds, Amazon bonds, High-quality CLOs. 3 trade ideas extracted by AI with direction and confidence scoring.
Speakers: Subadra Rajappa, Zachary Griffiths · Tickers: Long-end U.S. Treasury bonds, Amazon bonds, High-quality CLOs