Podcast appearances and mentions of Brian Carney

Brian Carney and Sky Sports rugby league producer Billy Painter are on Fremont Street in Las Vegas as we begin the build-up to Saturday's triple-header of games at Allegiant Stadium.-The Bench is a Sky Sports podcast. Listen to every episode here: skysports.com/the-bench-with-jenna-and-jonYou can listen to The Bench on your smart speaker by saying asking it to "play The Bench with Jenna and Jon".Watch every episode of The Bench on YouTube here: The Bench on YouTubeFor all the latest rugby league news, head to skysports.com/rugby-leagueFor advertising opportunities email: skysportspodcasts@sky.uk

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It may be a Valentines Day Calcutta Cup Special of The Kickabout but those of you looking for romantic 6 nations rugby content should probably look elsewhere... because this week Johnny and Gav were joined by rugby leeeeague legend, Brian Carney, as they opened the refrigerated door to The Meat Locker.You can hear The Kickabout live on Radio X from 11am every Saturday. Get in touch on kickabout@radiox.co.uk

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Brian Carney, lead portfolio manager of the global credit opportunities strategy, explores the current credit market environment characterized by tight spreads and low defaults despite global uncertainties. He discusses the concept of "convergence and complacency"—where large pools of capital chase lower-quality borrowers while markets overlook serious warning signs including political pressure on central banks and hidden leverage. The conversation covers key crisis indicators, the weakening of credit covenants over the past decade, and the risks associated with private credit. He outlines the portfolio's defensive positioning with high-quality, short-duration securities and highlights Saturn Oil and Gas as an example of selective opportunities that still favor lenders. He concludes with insights on how AI is enhancing the investment process while emphasizing that technology cannot replace the importance of human relationships in credit analysis.   Key Takeaways:   • How the Global Credit team approaches today's tight spread environment by focusing on capital preservation rather than reaching for yield, positioning for future market dislocations when opportunities will emerge.   • The key early warning indicators to monitor for potential credit market stress, including hedge fund liquidations, counterparty credit reductions, and central bank intervention patterns.   • The reality behind private credit's popularity: —understanding whether the additional ~200 basis points over public high yield adequately compensates for illiquidity, reduced transparency, and higher fees.   • The critical importance of credit covenant analysis in the investment process, and how the shift toward borrower-friendly terms over the past decade has reduced lender protections.   • The rationale behind the Saturn Oil and Gas investment, highlighting how disciplined management, forced deleveraging through quarterly bond buybacks, and attractive spreads create value in a challenging market.   • How AI technology is being integrated to enhance the investment process through improved issuer triage and covenant comparison, while maintaining the essential human relationships that drive successful credit investing.   This episode is available for download anywhere you get your podcasts.   Founded in 1974, Mawer Investment Management Ltd. (pronounced "more") is a privately owned independent investment firm managing assets for institutional and individual investors. Mawer employs over 250 people in Canada, U.S., and Singapore.    Host: Kevin Minas, CFA ­­- Institutional Portfolio Manager Guest: Brian Carney, CIM – Portfolio Manager   Visit Mawer at https://www.mawer.com.    Follow us on social:    LinkedIn - https://www.linkedin.com/company/mawer-investment-management/   Instagram - https://www.instagram.com/mawerinvestmentmanagement/

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In this episode, we discuss credit markets with Brian Carney, lead portfolio manager of the Mawer Global Credit Opportunities strategy. Brian touches on the tightening of credit spreads, risks in the leveraged loan market, and the limited compensation for high-yield bonds relative to their risks. He also reviews concerns about U.S. government credit quality, private credit profitability, and corporate policy shifts. Looking back on Mawer's GCO strategy performance in 2024, Brian highlights future plans for growth, process refinement, and team expansion. Key Takeaways: Credit spreads are tightening across all markets, benefiting investors but reducing risk premiums. U.S.-centric policies support domestic companies, yet lenders may not share in the gains. Brian recommends investors avoid chasing yield in lower-quality or long-duration bonds. Collateralized Loan Obligations (CLOs) drive the $1.2 trillion leveraged loan market, with issuance surging in 2024. This leverage-heavy, opaque market raises concerns about risk-taking. If dislocation occurs, leveraged loans could suffer alongside high-yield bonds, making it a key area for monitoring. High-yield bonds offer 7% returns, but history shows adding even 25% to a portfolio can significantly increase downside risk. With only a 0.6% incremental yield benefit today, investors aren't adequately compensated for the risk, making caution more prudent than yield chasing. Concerns include the U.S. government's credit quality, private credit's profitability favoring managers over investors, and ensuring portfolio companies maintain long-term stability despite short-term policy shifts. Monitoring these factors closely remains a priority. Future plans for Mawer's GCO strategy include expanding individual and institutional adoption, refining processes, leveraging technology, and selectively growing the team. Founded in 1974, Mawer Investment Management Ltd. (pronounced "more") is a privately owned independent investment firm managing assets for institutional and individual investors. Mawer employs over 250 people in Canada, U.S., and Singapore. Visit Mawer at https://www.mawer.com. Follow us on social: LinkedIn - https://www.linkedin.com/company/mawer-investment-management/ Instagram - https://www.instagram.com/mawerinvestmentmanagement/ 

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This week, Johnny and Gav talk football celebrations, short sniffing and McIlroy's massive trophies. Plus, to help us bone up on everything we need to know about the upcoming Rugby League season, they're joined by a former player for Great Britain and Ireland, Brian Carney.You can hear The Kickabout live on Radio X from 11am every Saturday. Get in touch on kickabout@radiox.co.uk

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In this episode, we discuss key trends and positioning in credit markets with Brian Carney, lead portfolio manager of the Mawer global credit opportunities strategy. We touch on the year's strong performance driven by tighter spreads, higher yields, and emerging risks such as low risk premiums and the U.S. election. Topics include corporate issuance, fallen angels, and public-private credit convergence. Emphasizing capital preservation, Brian highlights portfolio positioning in high-quality, short-duration securities, such as North American bank bonds, while avoiding high-yield exposure. Key Takeaways: Credit markets have performed well this year, driven by tighter spreads and higher benchmark yields, but risk premiums are historically low. Brian suggests investors prioritize capital preservation over chasing yield, avoiding high-yield bonds and long-dated credit. Post-U.S. election, vigilance is key amid potential policy-driven market shifts. Trends in the past quarter include fallen angels, commercial real estate risks, and potential high-yield defaults. An actively managed, absolute return credit strategy offers diversification, income, and potential capital appreciation while protecting against adverse credit and interest rate moves. It's ideal for long-term investors seeking alternatives to passive strategies and opportunities in volatile or distorted markets. Brian recommends investors view absolute return credit as a long-term allocation, not for market timing. Market dislocations are brief, and panic often prevents opportunistic moves. Mawer's portfolio is managed bottom-up, focusing on individual credit assessments to mitigate risk and seize opportunities. It prioritizes short-duration, high-quality holdings, avoids high yield, and ensures diversification with a maximum issuer cap of 10%, balancing downside risk and concentrated positions. Optimism abounds for long-term credit opportunities and future discussions on continued progress.   Host: Kevin Minas, CFA, MBA, CAIA Mawer Institutional Portfolio Manager Guest: Brian Carney, CIM Mawer Portfolio Manager, Fixed Income For more details and full transcript visit: https://mawer.com/the-art-of-boring/podcast This episode is available for download anywhere you get your podcasts. -- Founded in 1974, Mawer is a privately owned independent investment firm managing assets for institutional and individual investors. Mawer employs over 250 people in Canada, U.S., and Singapore. Visit Mawer at https://www.mawer.com. Follow us on social: LinkedIn -   / mawer-investment-management  Instagram - / https://www.instagram.com/mawerinvestmentmanagement/

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