Podcasts about western asset management

Ongoing market volatility may not surprise investors — but the potential of a multi-sector bond strategy to deliver reliable income might. In this episode, discover how a dynamic credit allocation can help investors manage risk and stay resilient from Mike Buchanan, Chief Investment Officer at Western Asset Management. A Franklin Templeton company, Western Asset Management is the investment advisor for the Western Asset Diversified Income Fund (WDI).

Whether Fed adjustments lead to a soft landing or further easing, mortgage securities' diversification benefits and potential for higher yields with reduced volatility make them an attractive option for income-oriented investors. Discover Western Asset Management's unique approach to the strategy with the Western Asset Mortgage Opportunities Fund (DMO) and 2025 fixed income outlook. A Franklin Templeton company, Western Asset Management is the investment advisor for the Western Asset Mortgage Opportunities Fund (DMO).

Another lesson on why investors should stay away from derivatives  The well-known mutual fund company, Franklin Templeton, has a division known as Western Asset Management, WAM. Please do not confuse that with our investment firm, Wilsey Asset Management, also referred to as WAM. Western Asset Management received a Wells Notice from the Securities and Exchange Commission (SEC), which informed them that the agency was planning on enforcing some action against them. From the spring of 2021 through the autumn of 2022, the manager Ken Leech, who by the way has now taken a leave of absence, did 17,000 treasury derivative trades. The fund performance was horrendous and the three funds he managed lost as much as half of their assets as investors sold their shares. There is nothing proven yet, but if you hold these funds or other Franklin funds, I would definitely be selling my shares and looking elsewhere. I have known the Franklin funds for nearly 30 years and it is disappointing to see this type of news for that company. Full disclosure, we stopped using their funds well over 20 years ago and have zero dollars invested with them at this time    Boring inflation report likely secures a 0.25% interest rate cut next week August headline CPI rose 2.5% compared to last year, which was below the estimate of 2.6% and marked the lowest reading since February 2021. The headline number benefitted from energy prices that were 4.0% lower than last year, largely thanks to a 10.3% decline in gasoline prices. The other normally volatile category, food, was also quite subdued as it showed an increase of just 2.1% compared to last August. Food at home showed a small increase of just 0.9%, while food away from home was up 4.0%. Core CPI, which excludes food and energy was up 3.2% compared to last year, which matched the reading in July. The lack of progress on core CPI is the main reason I believe a 0.25% cut will be preferred over a 0.50% cut at next week's Federal Reserve meeting. Shelter really remains the key hurdle for core CPI as it increased 5.2% compared to last year and accounted for about 70% of the increase in core CPI. The shelter number is still puzzling to me considering the BLS New Tenant Rent Index actually fell 1% in the second quarter. At some point these shelter costs in the CPI will come down, I'm just shocked at how long that process is taking. Auto insurance continues to steal the show in terms of large gains as the category was up 16.5% compared to last year. A positive for the category as we move forward is both used cars & trucks (-10.4%) and new vehicles (-1.2%) saw declines compared to last year. While high, motor vehicle and maintenance (+5.1%) has cooled from earlier levels. This should all lead to more subdued auto insurance inflation next year.    Diet drugs could cause health insurance premiums to skyrocket Weight loss drugs have become very popular as an easy way to lose weight, but who is going to pay for this more expensive option? Some of the drugs cost about $13,000 a year and there are now some discount versions that were recently announced that will still be around $6,000 to $7,000 a year if you're willing to get a separate needle and vile to inject yourself, rather than using the autoinjector version. It is estimated that in 2024, Zepbound and Mounjaro combined sales will reach $18.3 billion. In 2025, it is estimated that the sales for these two drugs will hit $28.7 billion. What people do not realize is the strain this is beginning to put on the US healthcare system. Insurance companies make money by collecting insurance premiums from many people and calculating out what they will likely have to pay out in claims. It is obvious that if claims will be rising because of the high cost of these diet drugs paired with many people using them, the only solution is to increase insurance premiums. Some insurance plans and even Medicare won't pay for the weight loss drugs to help with weight loss but ways around it include saying they reduce the risk of heart failure, sleep apnea, and stroke. I believe to help correct the situation, these drugs need more competition to bring more supply to the market and reduce prices. I know of a couple of other companies like Pfizer and Viking Therapeutics that are very close to releasing their own weight loss drugs. Hopefully these additions will dramatically reduce the cost of these drugs so that people can pay for them out of pocket and leave the insurance companies to cover the big expenses our healthcare system incurs.    Tax benefit of owning a house Everyone likes to talk about the tax benefits of owning a home, but it's important to understand what the true benefit is before deciding to purchase. When buying a home, the property taxes and mortgage interest are itemized deductions that can reduce taxable income for federal and state taxes. However, you need enough itemized deductions to exceed the standard deduction in order to receive any tax benefit. For married couples, the federal standard deduction is $29,200 and the California standard deduction is about $11,000. If you own a home but your total federal itemized deductions after paying your mortgage and property taxes are only $25,000, you won't receive any federal tax benefit even though those expenses are technically deductible because you will still end up claiming the higher standard deduction. This situation is more common for people who have owned their home for a while because their property taxes are generally lower due to Prop 13 and they likely would have refinanced their mortgage when rates were lower which reduces the amount of interest they can claim. For people buying new homes, there are typically more expenses which can result in tax savings. On the federal side, the most common itemized deductions are mortgage interest on loans up to $750,000, state income and property taxes capped at $10,000, and charitable giving. In California mortgage interest is deductible on loans up to $1,000,000, property taxes but not state income taxes are deductible, and charitable gifts are deductible. If you are buying a $500k home, your tax savings will likely be between $4,000 and $6,000 per year; with a $1 million home, it's likely between $10,000 and $12,000 per year; and with a $2 million home, it's likely between $15,000 and $20,000 per year. The actual tax savings will vary based on the value of the home, the loan balance, the interest rate, and your tax bracket. It's always great to reduce taxes, but this means you are paying anywhere from $40,000 to upwards of $100,000 in interest and taxes to get those levels of tax savings. Also keep in mind that taxes are likely to change in 2026 which will largely increase the tax benefit of owning a home. As with any financial decision, it is important to understand the whole picture when buying a home, not just the potential tax benefits.   Companies Discussed:  Topgolf Callaway Brands (MODG), United States Steel(X), McDonald's (MCD)

Generally exempt from income taxes, municipal bonds have long been attractive to income-oriented investors – but current market dynamics may offer more opportunities in 2024. Gain views on munis, the broader fixed income landscape, inflation, and more from Western Asset Management Head of Municipals Rob Amodeo below.    An independent specialist investment manager of Franklin Templeton, Western Asset Management is recognized as one of the world's leading fixed-income managers. The company offers a variety of funds including Municipal Funds:   Western Asset Managed Municipals Fund (MMU)  Western Asset Intermediate Municipal Fund (SBI)  Western Asset Municipal High Income Fund (MHF)

The Year was 2022: No asset class globally escaped the enormous price resetting created by the most aggressive tightening cycle seen in history. Fixed interest markets felt the most pain: US 10-year bonds fell 39.7% for the year. If we were lucky enough to be Marty McFly and set our dash clock back to 28 December 2021 (the market high), how would you manage a bond portfolio differently?During this podcast, Craig discusses topics such as how Anthony and Western Asset Management adopt such a hugely successful fixed interest strategy to remain ahead of the market. How do you position fixed interest during an economic cycle? How do you reshape a bond portfolio given the frequently changing central commentary? Most importantly can bonds still act as a core defensive asset class – for all investors?Craig sits down with Anthony Kirkham, the Head of Melbourne Operations and Investment Management for Western Asset Management. Anthony personally manages in excess of AUD$18 billion in fixed interest, spanning across more than 33 years of experience. Anthony is the Head of the Australian Investment team, Head of Australian Operations, and Portfolio Manager at Western Asset since 2007. Mr Kirkham holds a Bachelor of Commerce degree from the University of Melbourne, a Master of Applied Finance from Macquarie University and a Graduate Diploma from the Securities Institute of Australia. Anthony also holds the CFA designation.Founded in 1971, Western Asset Management is one of the world's leading fixed-income managers. With a focus on long-term fundamental value investing that employs a top-down and bottom-up approach, the firm has nine offices around the globe and deep experience across the range of fixed-income sectors. Western Asset Management's parent company, Franklin Templeton, operates in 155 countries. Franklin Templeton offers boutique specialisation on a global scale, bringing extensive capabilities in equity, fixed income, multi-asset solutions and alternatives. With offices in more than 32 countries and approximately 1,250 investment professionals, the California-based company has 75+ years of investment experience and approximately A$2.1 trillion in funds under management as of 31 March 2023. Disclaimer: The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.

Alec Crawford welcomes Bonnie Wongtrakool to the Stay podcast, a show about sustainability, technology, artificial intelligence, and the individual. Bonnie is a chartered financial analyst and the global head of ESG Investments and portfolio manager at Western Asset Management Co. and is joining Alec to discuss environmental, social and government (ESG) focused investing during Women's History Month. Bonnie explains how she came to ESG by happenstance, as she was previously working as a mortgage portfolio manager. After expressing her interest in something outside of mortgages, her senior management at Western Asset asked her to look into ESG, as they had been hearing about the need for more sustainable investments from international clients.Western Asset Management is a global fixed income manager with $400 billion under management. Headquartered in Pasadena, California, they also have eight other offices around the world. Western Asset Management manages all types of fixed income, including multi sector mandates, absolute return, corporate only mandates, emerging market, dedicated bank loans, municipal bonds, mortgage backed securities, and asset backed securities. Their investment horizon is long term and they adopt a fundamental value active management approach. They also prioritize ESG, incorporating it into all their mandates to assess a security's intrinsic value. In 2017, the company recognized the trend of ESG and asked the speaker to lead the initiatives in the area.Bonnie is the global head of ESG investments and a portfolio manager at WAMCO. Her role involves leading ESG initiatives such as research, engagements, and strategy while working with other groups within the firm such as client services, legal and compliance, and information technology. As a portfolio manager, she also manages broad sector portfolios.When it comes to ESG investing, the process is integrated into the investment process from a bottom-up perspective. This includes research analysts creating ESG frameworks for each subsector and taking a forward-looking approach instead of relying on historical reported data. Additionally, the speaker and his team also engage with management to assess the governance pillar.Bonnie acknowledges the difficulty of obtaining ESG information from smaller private companies, such as those issuing bank loans or high yield bonds. Despite this, they are still actively looking for ways to assess these companies and factor ESG into the investment process.Information flow and sustainability have greatly improved in recent years, particularly through the LSTA's ESG questionnaire and increased investor interest. However, the data is still relatively basic and conversations with issuer management are necessary to get more detailed information. For agency mortgage backed securities, we assess the ESG risks and opportunities and give a generally positive rating. Fannie Mae and Freddie Mac have both started issuing green and social impact bonds in response to investor demand, and we take these into account when selecting investments for our clients. When communicating our ESG strategy to investors, we emphasize the importance of sustainability, the use of proceeds, the collateral, the issuer, and the servicer.Timestamps0:00:02Heading: Interview with Bonnie Wongtrakool, Global Head of ESG Investments and Portfolio Manager at Western Asset Management Co.0:02:08Western Asset Management's ESG Initiatives0:04:01ESG Investing at WAMCO: A Conversation with the Global Head of ESG Investments0:08:57Exploring Information Flow and ESG Ratings for Corporate and Non-Corporate Fixed Income Securities0:12:11ESG Reporting and Climate Finance Challenges for Sustainable Investors0:14:28Conversation on Sustainable Investing and ESG Investing for Public...

Desmond Soon, Head of Investment Management, Asia (ex-Japan), Western Asset Management discusses headwinds for stronger consumer sentiment in China to breathe life back into the property market, critical for the economy's recovery.See omnystudio.com/listener for privacy information.

The commercial real estate market is in for a rough ride this year. Many mortgages become due in 2023, and refinancing could be impossible for some property owners because of high interest rates. That situation is expected to shake things up a bit, and lead to more defaults, subleasing, and vacancies. As a MarketWatch headline suggests: “The party is over in commercial real estate.” (1)   Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review.   Lenders say there's an estimated $450 billion worth of commercial real estate loans coming due within the next four years. Property owners will be forced to refinance at much higher interest rates, for properties that may have also lost value. It's a double whammy that could result in property sales and/or bankruptcies.   Higher Rates & Lower Valuations   And that's not including a decline in lease renewals, which is already happening. You may have seen headlines about some of the big tech companies cutting down on their square footage – companies like Amazon, Meta, and Salesforce.   According to Western Asset Management's Greg Handler: “You had all these large tech companies signing big new leases, which was getting the market comfortable with the idea that the office sector was going to recover over the long term.” But with many companies retreating, Handler says there are big questions as to “who is going to pick up the extra square feet, and at what price.”   As MarketWatch reports: “Landlords tend to default when debt comes due and financing dries up, a situation that can be exacerbated when a property's cash flows or valuation falls.” Bank of America's Alan Todd says of the situation: “If you're in a property where valuations are lower (and) your rate is significantly higher, how are you doing to refinance successfully?”   CRE Price Growth Slows, but Positive   Commercial property prices haven't dropped significantly yet. One index mentioned in the MarketWatch article says they are still up 7.3% for the year, and 123.5% from 10 years ago. But Todd at BofA thinks they could be headed lower by as much as 20 to 30%. He says: “You're talking about a secular, not cyclical, change for certain property types, whether those are regional malls or some of the lower quality offices. Some of those could be fairly problematic.”   Steve Madura of Illinois' Hilco Real Estate offered a much bleaker forecast for commercial real estate in a Bisnow article. His company specializes in distressed assets, and he says the need for companies to repay or refinance mortgages will lead to a so-called “reckoning” that will (quote) “dwarf the 2008 financial collapse.” (2)   Madura is calling the mix of high interest rates and a frozen capital market a “distress bubble.” He says distress is happening sooner than expected, and the impact could ripple through the market. As more and more borrowers face the need for refinancing, we may see more of them heading for the exit.    Distress Creates Investing Opportunities   Of course, that kind of distress creates investing opportunities, but Madura sees it as potentially too much of a good thing. He says: “There are huge rows of office buildings in Chicago with 50% vacancy rates. Do you want to convert that many office buildings to residential? That only goes so far.”   That doesn't mean commercial investors should ignore office space. Real estate strategist Andy Graiser says that some investors believe they should wait for a better deal later this year, but he says it might be wise to grab a deal now if it's a good property, and the numbers make sense.  He says: “The demand is out there.”    Oxford Economics expects somewhat of a downturn. Its research shows a (negative) -2.2% total return for commercial real estate in 2023. In 2022, that figure was a (positive) 4.2%. The retail and hotel sectors are expected to be the only ones that will end the year with a positive total of 1.8% and 1.2% respectively. A decline of 5% is expected for residential property. (3)   Reshuffling of Real Estate Fortunes   Although real estate experts anticipate another difficult year for commercial properties, they are also seeing the beginning of a reshuffling of real estate fortunes. Bei Capital founder Collin Lau told Bisnow that he expects interest rates to peak, plateau, or potentially decline in the first quarter.  He says: “As interest rates start to normalize, that will bring investors back to the market.” The Bisnow article goes into more depth on the topic. You can reference that article and the others mentioned int this podcast in the show notes at newsforinvestors.com. Our plan at Real Wealth is to wait until commercial property values find their floor, as we believe values are still uncertain and in some cases, a free fall. We expect to be more active in underwriting commercial property sometime in mid to late 2023. Meantime, we are focused on acquiring single-family homes in both cash flow and growth markets. With interest rates up, fewer people can afford to buy a home but still want to live in one. The demand for renters is strong, yet competition among buyers is low. Sellers are discounting prices and even paying points to buy down the rates, increasing cash flows. This is also why we are focused on building our single-family rental fund, that has an 8% target return with very conservative underwriting. You can find out more at GrowDevelopments.com.  And if you want to build your rental portfolio, visit newsforinvestors.com where you will get data on the strongest rental and growth markets nationwide, along with referrals to experienced brokers and property managers in those markets that come highly recommended by RealWealth's over 66,000 members.    Thanks for listening!   Links:   1 - https://www.marketwatch.com/story/the-party-is-over-in-commercial-real-estate-heres-what-to-expect-in-2023-11671711842   2 - https://www.bisnow.com/national/news/top-talent/distressed-asset-specialists-see-deals-in-reckoning-that-dwarfs-08-collapse-116944?utm_source=outbound_pub_58&utm_campaign=outbound_issue_63533&utm_content=link&utm_medium=email   3 - https://www.bisnow.com/london/news/capital-markets/youre-probably-going-to-lose-money-in-2023-but-theres-light-at-the-end-of-the-tunnel-116993

Don Plotsky is co-founder and managing member of Alternative Income Solutions and manager of the AIS – Foundation Fund, LP a diversified specialty finance portfolio. He is also co-founder and managing member of Uinta Investment Partners LLC, a multi-family office founded in 2017.Mr. Plotsky has nearly 40 years of investment management experience as a leader, innovator and portfolio manager. His primary focus over his career has been on fixed-income and structured products. Prior to forming Uinta and AIS, he served as head of product development and product management at Western Asset Management (2002-2016) and as head of the firm's retail business.Learn more: https://www.alt-incomesolutions.com/Influential Entrepreneurs with Mike Saundershttps://businessinnovatorsradio.com/influential-entrepreneurs-with-mike-saunders/Source: https://businessinnovatorsradio.com/interview-with-don-plotsky-co-founder-of-alternative-income-solutions-discussing-predictable-income-with-specialty-finance

Don Plotsky is co-founder and managing member of Alternative Income Solutions and manager of the AIS – Foundation Fund, LP a diversified specialty finance portfolio. He is also co-founder and managing member of Uinta Investment Partners LLC, a multi-family office founded in 2017.Mr. Plotsky has nearly 40 years of investment management experience as a leader, innovator and portfolio manager. His primary focus over his career has been on fixed-income and structured products. Prior to forming Uinta and AIS, he served as head of product development and product management at Western Asset Management (2002-2016) and as head of the firm's retail business.Learn more: https://www.alt-incomesolutions.com/Influential Entrepreneurs with Mike Saundershttps://businessinnovatorsradio.com/influential-entrepreneurs-with-mike-saunders/Source: https://businessinnovatorsradio.com/interview-with-don-plotsky-co-founder-of-alternative-income-solutions-discussing-predictable-income-with-specialty-finance

Molly Schwartz, a portfolio manager on the U.S. Broad Market team at Western Asset Management, says a recession can be avoided for the rest of the year if the Federal Reserve "takes a more measured approach" and sticks to it. Even if there is a recession, Schwartz said what matters is how people feel it, and they're not likely to feel much pain while the job market is still growing and workers are getting raises, and more. Also on the show, Chuck answers audience-member questions about what's wrong with an individual investor taking a flyer on riskier stocks and strategies, as well as how to determine if a financial adviser has the 'right credential' to help with retirement planning, and Nancy Tengler, chief investment strategist at Laffer Tengler Wealth Management talks growth at a reasonable price in the Market Call.

With higher rates appearing inevitable, fixed income investors must weigh a range of maturities, sectors and credit quality along the yield curve, including low duration strategies less exposed to rate hikes. Plus, how inflation and policy decisions fit into the equation. And, where there could be opportunity at the shorter end of the yield curve. Our Stephen Dover joins Walter Kilcullen of Western Asset Management and Franklin Templeton Fixed Income's Reema Agarwal to talk about it all.

Bruce Greenwald, Professor Emeritus at Columbia Business School and Senior Advisor at First Eagle Investment Management, discusses his new book: "Value Investing: From Graham to Buffett and Beyond." Clint Watts, Distinguished Research Fellow at the Foreign Policy Research Institute and former FBI agent specializing in terrorism, on the massive hack into U.S. Treasury and other US agencies. Mike Buchanan, Deputy Chief Investment Officer at Western Asset Management, on credit markets and his macro outlook. Bob Langreth, Bloomberg health care reporter, on the vaccine rollout in the U.S. starting today. Hosted by Paul Sweeney and Vonnie Quinn. 

Meet: Marick S. Sinay, Ph.D. is Vice President Head of Data Science and Analytics for Aspiration. Dr. Sinay has been in the broader financial services industry in various quantitative financial modeling and data science roles. He has experience working at large financial institutions, Bank of America and Western Asset Management, as well as at FinTech startups in the Los Angeles area. Dr. Sinay has successfully hired and led teams of data scientists, data analysts, and data engineers to drive business intelligence and advanced predictive analytics using machine learning to solve enterprise initiatives. He has a Ph.D. in Statistics and Applied Probability, Masters in Statistics, and a Masters in Economics from the University of California Santa Barbara. What you'll learn: Career advice - tips and advice for analyst and data scientists to grow Building data teams - do's and don'ts to building a successful diverse team

“Mercados Actuales” de Franklin Templeton, una serie de perspectivas sobre la economía global, los mercados y las tendencias para que se mantenga al tanto de los acontecimientos económicos. En este episodio, le presentamos las ideas de Western Asset Management con el panorama Global para el cuarto trimestre de 2020

"Mercados Atuais” o nosso insight sobre economia, mercados e tendências globais, para que você se mantenha a par das últimas novidades da economia. Neste episódio, vamos conhecer as ideias da Western Asset Management: Visão Global do quarto trimestre de 2020.

Le damos la bienvenida a “Mercados Actuales”, una serie de perspectivas sobre la economía global, los mercados y las tendencias para ayudarle a mantenerse al tanto de los acontecimientos económicos. En este episodio, le traemos las ideas de Western Asset Management. La Reserva Federal se prepara para un largo período de flexibilización por John Bellows, Ph.D., Portfolio Manager, Research Analyst. 29 de julio de 2020: La Reserva Federal está planificando un período prolongado de ajuste y procurando garantizar que sus políticas se puedan mantener siempre que sea necesario.

Bem-vindo ao “Mercados Atuais”, o nosso insight sobre economia, mercados e tendências globais, que ajuda você a ficar bem informado sobre as últimas novidades da economia. Nesta edição, vamos saber o que pensa o Western Asset Management. O Fed se prepara para um longo período de flexibilização por John Bellows, Ph.D., Portfolio Manager, Research Analyst. 29 Julho de 2020: O Fed está planejando uma longa acomodação e busca garantir que suas políticas públicas permaneçam sustentáveis pelo tempo necessário.

Bonnie M. Wongtrakool (Global Head of ESG Investments, Portfolio Manager, Western Asset Management) discusses the state and the future of ESG (environmental, social, governance) investments with Richard Green (Director, USC Lusk Center for Real Estate). Wongtrakool delivers relevant definitions of ESG, how ESG factors can determine long-term sustainability and viability of an organization or fund, and what trends are driving ESG growth. Green follows up with questions on what makes green buildings more financially resilient, red flags in organizational governance, and what it will take to truly diversity the finance industry.

Karl Mills, president of Jurika, Mills and Kiefer, says that while there is more good news than bad right now for the market, investors should be more defensive in their thinking right now. Mills isn't expecting a big downturn -- he's anticipating a 10 to 15 percent pullback, but says that it's hard to see much potential for the market to move significantly higher, so until there is some sort of sell-off and the market repositions to make buying more attractive, he's remaining cautious and careful. Also on the show, Ted Rossman of CreditCards.com discusses the current shortage of coins and how Covid-19 is permanently changing the way consumers pay for things, David Trainer of New Constructs talks about an attractive manufacturing stock to consider now, and Harris Trifon of Western Asset Management discusses how the work-from-home trend is likely to impact real estate markets once the coronavirus pandemic has ended.

Le damos la bienvenida a “Mercados Actuales”, una serie de perspectivas sobre la economía global, los mercados y las tendencias para ayudarle a mantenerse al tanto de los acontecimientos económicos. En este episodio, le traemos las ideas de Western Asset Management. Inflación: ¿es el 2 % el objetivo correcto? por Amit Chopra

Bem-vindo ao “Mercados Atuais”, o nosso insight sobre economia, mercados e tendências globais, que ajuda você a ficar bem informado sobre as últimas novidades da economia. Nesta edição, vamos saber o que pensa o Western Asset Management. Inflação: Será que 2% deveria ser a meta correta? por Amit Chopra

Brighthouse Financial brings you this latest edition of Investing Perspectives featuring Mike Bazdarich, PhD, Economist at Western Asset Management. Having spent time at the Federal Reserve Bank of San Francisco and as an Economist at Western Asset Management since 2005, Mike has dedicated his career to researching economic policy and analyzing capital markets. In addition, he has written a whitepaper on the potential for negative interest rates (http://www.westernasset.com/us/en/research/whitepapers/negative-interest-rates-2020-01.cfm) and the global economic impact. Victor Soto, Head of Investment Research and Analysis for Brighthouse Investment Advisers, moderates this conversation. Join their discussion about 2020 investing opportunities amid unprecedented market volatility and events. Additional topics covered:    -       Fed policy and interest rate implications  -       U.S. stimulus plans and economic impact -       U.S. Presidential Election outlook

Mike Buchanan, Deputy Chief Investment Officer at Western Asset Management, on opportunities in fixed income. Peter Kenny, Founder of Strategic Board Solutions, on why markets will come back. Bess Freedman, CEO of luxury real estate firm Brown Harris Stevens, Inc., on navigating residential real estate during covid-19. Alex Webb, Bloomberg Opinion technology columnist on why your Amazon delivery will get more expensive. 

Mike Buchanan, Deputy Chief Investment Officer at Western Asset Management, discusses his 3rd Quarter global outlook. Michael Zeldin, former federal prosecutor and Robert Mueller's former Special Assistant at the DOJ, on what to expect from the Mueller hearings. Constance Hunter, Chief Economist at KPMG, on why the sluggish housing market is a puzzle for the Fed. Therese Raphael, Bloomberg Opinion editor, on Boris Johnson winning the Tory vote to be the next UK Prime Minister.

How do advisors navigate today’s market for clients?  Where are growth and income opportunities for the remainder of 2019?  Listen to expert insights from leading investment managers including, Invesco, Western Asset Management, Schroders, and JP Morgan. This two-part edition of Investing Perspectives with Brighthouse Financial brings together a roundtable of representatives from recognized investment managers to discuss mid-year investing opportunities across domestic and international equity and fixed income, along with other asset classes.  Victor Soto, Head of Investment Research and Analysis for Brighthouse Investment Advisers, moderates this conversation.

How do advisors navigate today’s market for clients?  Where are growth and income opportunities for the remainder of 2019?  Listen to expert insights from leading investment managers including, Invesco, Western Asset Management, Schroders, and JP Morgan. This two-part edition of Investing Perspectives with Brighthouse Financial brings together a roundtable of representatives from recognized investment managers to discuss mid-year investing opportunities across domestic and international equity and fixed income, along with other asset classes.  Victor Soto, Head of Investment Research and Analysis for Brighthouse Investment Advisers, moderates this conversation.

Mark Hughes, Portfolio Manager & Research Analyst on The Emerging Markets Debt Team at Western Asset Management, discusses emerging markets debt as a diversifier and yield enhancer within a fixed income portfolio.

This episode is a companion episode to a similar one we released a few weeks about which focussed on the equity side of the conversation.  Not require listening, but if this one caught your eye, you should check that one out as well. My guest today, John Bellows, PhD, a Portfolio Manager with Western Asset Management and a member of their US Broad Strategy Committee, the Global Investment Strategy Committee and the Global Portfolios team. We jump into the recent market action right out of the gate to help interpret some recent events and how they could impact fixed income investments in workplace retirement plans.  We also hit on some topics that can cause confusion such as do we want inflation which makes things more expensive and want to avoid deflation which makes things less expensive.  With the background set, John then shares some great input on evaluating the fixed income portion of investment menus.  Be sure to stick around for his comments towards the end about the index vs. active conversation in the fixed income space.   Guest Bio John L. Bellows, PhD, is a Portfolio Manager with Western Asset Management Company, LLC. Prior to joining the Firm in 2012, Mr. Bellows served at the U.S. Department of the Treasury, most recently as the Acting Assistant Secretary for Economic Policy. At Western Asset, he is a member of the US Broad Strategy Committee and the Global Investment Strategy Committee. In 2018 he took on an elevated role in the Global Portfolios team where he is a leading voice for US and global macro strategies. Mr. Bellows holds a Bachelor of Arts degree in Economics from Dartmouth College, where he graduated Magna Cum Laude, and a PhD in Economics from the University of California, Berkeley. He also holds the CFA designation. 401(k) Fridays Podcast Overview Struggling with a fiduciary issue, looking for strategies to improve employee retirement outcomes or curious about the impact of current events on your retirement plan? We've had conversations with retirement industry leaders to address these and other relevant topics! You can easily explore over 150 prior on-demand audio interviews here. Don't forget to subscribe as we release a new episode each Friday!

Charles Peabody, President of Portales Partners LLC, on bank earnings and why the picture isn't as rosy as the market seems to think. Tara Lachapelle, Deals, Telecom and Media Columnist for Bloomberg Opinion columnist, on Disney's new video service which undercuts Netflix. Mike Buchanan, Deputy Chief Investment Officer at Western Asset Management, on credit markets, the Fed, and the firm's new global outlook. Shira Ovide, Bloomberg technology columnist, on why investors are going to have a hard time valuing Uber.

John Bellows, portfolio manager for Western Asset Management, says that he believes the Federal Reserve is done hiking interest rates for 2019, and the market -- while not likely to continue its torrid first-quarter growth path -- is poised to avoid significant meltdowns this year. Unlike Will Nasgovitz --The Big Interview from Wednesday's show -- Bellows doesnot see corporate debt growing dangerously on balance sheets, but he did say the bond market needs continued growth in order to stabilize. Also on the show, Tom Lydon of ETFTrends.com has the 'ETF of the Week,' Chuck answers a follow-up questions on credit-card use, and Elliott Gue of Energy and Income Advisor has the Market Call.

Tax-free income opportunities with Western Asset Management’s veteran muni manager Robert Amodeo. WEALTHTRACK #1520 broadcast on November 2, 1018. --- Support this podcast: https://anchor.fm/wealthtrack/support

Desmond Soon, Head of Investment Management, Asia ex-Japan, Western Asset Management shares more about the opportunities for Asian investors especially in times of market stress or volatility, including countries and sectors within the bond market.

Phil Orlando, Chief Equity Market Strategist at Federated Investros, on jobs, the stocks market and current investment strategy.   Carl Weinberg, Chief Economist at High Frequency Economics, on the IMF outlook.  Mark Lindbloom, Portfolio Manager for Western Asset Management, on the bond market selloff and the launch of their new fixed income ETF.  Win Thin, Global Head: Currency Strategy for Brown Brothers Harriman, on the China yuan and outlook for emerging markets.

Mike Buchanan, Deputy Chief Investment Officer at Western Asset Management, on his current outlook of the bond market, spreads, and where he is seeing opportunities. Alan Baum, auto analyst and Principal at Baum and Associates, on why investors love Tesla. Media and entertainment guru Porter Bibb of Mediatech Capital Partners, on big media earnings: Disney, Viacom and Twentieth Century Fox. Brian Egger, Senior Gaming & Lodging Analyst, on outlook for Wynn Resorts as CEO Steve Wynn steps down amidst sexual harassment claims. 

Rick Helfenbein, the president and CEO of the American Apparel and Footwear Association, discusses retail earnings, Nafta negotiations and the impact of White House actions on the corporate community. Anurag Rana, a senior analyst of software and IT services at Bloomberg Intelligence, talks about Infosys CEO Vishal Sikka resigning amid acrimony between the board and a cohort of founders led by ex-chairman Narayana Murthy. Mike Buchanan, the deputy chief investment officer at Western Asset Management, gives his current outlook for the bond market and yield spreads. Finally, John Streur, the CEO of Calvert Research and Management, talks about responsible investing and ESG trends in 2017.

Finding rare sources of income in a low income world with Brandywine Global’s Stephen Smith and Western Asset Management’s John Bellows. WEALTHTRACK #1405 broadcast on July 21, 2017. --- Support this podcast: https://anchor.fm/wealthtrack/support

Henry Olsen, a senior fellow at the Ethics & Public Policy Center, talks about his new book, "The Working Class Republican: Ronald Reagan and the Return of Blue-Collar Conservatism." Mike Buchanan, deputy chief investment officer at Western Asset Management, tells Lisa Abramowicz why income investors need to look beyond traditional bond portfolios. Bloomberg’s Lynnley Browning says the corporate tax rate is likely to land at 28 percent instead of the historic 15 percent President Trump has promised. Finally, Bloomberg Gadfly columnist Lionel Laurent discusses news that Italy is committing $19 billion for Veneto banks in its biggest bank rescue on record.

Jack Devine, former acting director of the CIA and founding partner and president of the Arkin Group, provides his spring 2017 forecast for global risks. Carl Eichstaedt, a senior money manager at Western Asset Management, discusses the bond market and rate outlook. Former U.S. Congressman Rick Lazio, now senior vice president at Alliantgroup, talks about the top agenda for the Trump administration: Tax reform. Finally, Bloomberg’s Katherine Greifeld and David Wilson discuss how hospital stocks are rallying after the failed American Health Care bill -- even though fundamentals remain challenged. (Corrects attached audio file.)

While Ben Dyson has argued that we need to take the power to create money out of the hands of bankers and put it entirely in the hands of government (you can here that episode here) Detlev Schlichter goes further arguing that the power to create money should not be given to any group. As he lays out in his book Paper Money Collapse, since time immemorial governments in times of war or other trouble have always created more money. In the Ancient world that meant shaving down coins and diluting the amount of gold or silver in them. In the Civil War that meant printing more and more paper currency. The result was simple: a loss of faith in the currency. In Ancient Rome as the silver denarius dropped in silver content, trade began to dry up and this destruction of the money supply by emperors may well be one of the reasons for the collapse of the Roman Empire. Today, governments are not only printing more money to solve short-term crisis; they’re doing it as a long-term strategy. Whereas historically, countries always returned to some sort of gold-backing for their currency since the 1970s the amount of currency in the system has been determined by nothing but the decision of governments. They can print as much money as they want. That Detlev Schlichter argues is too great a power for any government to have. In the desire to be re-elected parties have an incentive to buy their way out of problems by flooding the system with cash. This model of money which Schlichter refers to as elastic money (because governments and banks can expand the amount of money limitlessly) is nearly absolute financial power and has the power to make even the most decent elected or appointed official behave recklessly. In our complex modern system, it can seem like an inelastic money supply like the gold standard is massively out of date but when you listen to Schlichter explain it in his book and in this podcast a return to an inelastic money supply shouldn’t be of any one time; it should be of every time because avoiding excessive concentrations of political or economic power is the purpose of democracy and the free market. Governments and banks have granted themselves the monopoly on money creation. That’s bad for everyone in the long-run. Detlev became an independent economist, market commentator and investment strategist after a 19-year career in international financial markets as a trader and portfolio manager, including stints at J. P. Morgan, Merrill Lynch, and Western Asset Management. His book, Paper Money Collapse: The Folly of Elastic Money, is now entering its second edition. It is available everywhere. You can follow him on twitter @DSchlichter and at http://detlevschlichter.com/. Be sure to rate and comment in iTunes. Also, you can find the show on Stitcher.