Credit Markets in Transition: Public–Private Credit Portfolios
All the Credit
Private credit has grown rapidly over the past decade, prompting many investors to revisit how public and private credit can work together in modern portfolios. In this podcast, we explore how this shift may be changing the way multi‑asset portfolios are constructed and managed. We also focus on the challenges of imperfect data, why liquidity and valuations fall along a spectrum rather than a simple public‑versus‑private divide, and how combining strengths like private‑market sourcing and public‑market flexibility can improve overall portfolio construction. PGIM’s Brian...
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Credit Markets in Transition: Asset-Based Finance Part II
All the Credit
Private asset-based finance (ABF) is the catch-all of credit markets—a diverse and complex segment offering a wide range of investment opportunities. In this follow-up to our previous ABF discussion, we delve deeper into the asset class and what it takes to be successful from origination to underwriting and portfolio construction. We discuss investment areas of interest—as well as those we’re apt to avoid—and examine the convergence of structured products and corporate credit through the lens of AI and data center finance. This episode also explores market dynamics, risk management,...
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From Buyers to Builders: Assessing the U.S. Housing Market
All the Credit
As the post-COVID boom in housing activity transitions toward more normalized market conditions, PGIM assesses the state of the U.S. housing market. Hear our experts dissect housing fundamentals, as persistent affordability challenges and a cooler labor market collide with a structural shortage of homes and the onset of a Fed rate cutting cycle. PGIM’s Brian Barnhurst, CFA, Global Head of Credit Research, hosts this discussion with Kaustub Samant, Head of Securitized Products Research, and John Maxwell, U.S. Leveraged Finance Credit Research Analyst. Recorded on September 24, 2025.
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Central Banks: Can Independence Prevail?
All the Credit
An independent central bank is the key to providing credibility to its monetary policy choices; credibility which anchors inflation expectations and allows a central bank to manage the demand-side of the economy and meet its mandate. In this episode of All the Credit®, we highlight the importance of central bank independence, discussing its significance, potential threats, and the implications of political interference—particularly in the context of the U.S. Federal Reserve. PGIM’s Tom Porcelli, Deputy Head of Global Economics and Chief U.S. Economist, hosts this discussion with Daleep...
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Credit Markets in Transition: Systematic Strategies
All the Credit
In today's dynamic investment landscape, systematic investing in fixed income markets is gaining prominence by blending fundamental insights with rule-based strategies to optimize performance. This episode of All the Credit® considers how these strategies use data-driven approaches to manage risk and seize market opportunities, while examining how advancements in artificial intelligence may further refine these processes. PGIM’s Brian Barnhurst, CFA, Head of Global Credit Research, hosts this discussion with Tyler Thorn, Multi-Sector Portfolio Manager. Recorded on July 9, 2025.
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Macro Shocks and Market Shifts
All the Credit
In this episode of All the Credit®, we explore the catalysts of recent market turbulence and outline the challenges posed to fixed income investors. With a focus on key market drivers, we share insights into what the current economic landscape reveals about risk, opportunity, and evolving market dynamics. PGIM Fixed Income’s Tom Porcelli, Chief U.S. Economist, hosts Gregory Peters, Co-Chief Investment Officer, and Daleep Singh, Vice Chair and Chief Global Economist. Recorded on May 29, 2025.
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Credit Markets in Transition: The Evolution of Liability Management
All the Credit
In this episode of All the Credit®, Credit Markets in Transition, we explore the evolving role of liability management in global credit markets and how they’re reshaping outcomes for investors, creditors, and the broader credit market. PGIM Fixed Income’s Brian Barnhurst, CFA, Head of Global Credit Research, hosts Ryan Kelly, CFA, Lead Portfolio Manager and Head of Special Situations, and Rishav Puri, Special Situations Credit Analyst. Recorded on May 21, 2025.
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Credit Markets in Transition: Liability-Driven Investing, A Multi-Sector Approach
All the Credit
Shifts in interest rates have thrust Liability-Driven Investing (LDI) into the spotlight, reshaping pension plan liabilities and presenting new de-risking opportunities. This episode of the All the Credit® Credit Markets in Transition sub-series examines impacts on funded status, plan sponsor adaptations, and the interplay of structured products and derivatives in portfolio construction. PGIM Fixed Income’s Brian Barnhurst, CFA, Head of Global Credit Research, hosts Tom McCartan, FIA, CFA, Multi-Sector Portfolio Manager. Recorded on March 27, 2025.
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Credit Markets in Transition: Asset-Based Finance
All the Credit
Asset-based finance (ABF) has grown in popularity as an attractive alternative to traditional direct lending and its turning heads with those looking to capitalize on investment opportunities. This episode of All the Credit® kicks off our new sub-series, Credit Markets in Transition, with an in-depth look at the rapidly growing ABF sector. We assess ABF's evolution, factors driving the surge in investment, its role within the financial ecosystem, and critical considerations for investors. PGIM Fixed Income’s Brian Barnhurst, CFA, Head of Global Credit Research, hosts Edwin Wilches, CFA,...
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China: Projections for 2025
All the Credit
Amid global complexities, China's economic outlook presents both challenges and opportunities that are crucial to investment considerations. In this episode of All the Credit®, we weigh possible growth scenarios for China, the impacts of tariffs, private sector confidence, and property sector challenges. We assess the nation’s fiscal strategies, rising social unrest, and geopolitical tensions with the U.S. and Taiwan. PGIM Fixed Income’s Tom Porcelli, Chief U.S. Economist, hosts Shikeb Farooqui, PhD, Lead Asia Economist. Recorded on January 9, 2025.
info_outlineAmid global complexities, China's economic outlook presents both challenges and opportunities that are crucial to investment considerations. In this episode of All the Credit®, we weigh possible growth scenarios for China, the impacts of tariffs, private sector confidence, and property sector challenges. We assess the nation’s fiscal strategies, rising social unrest, and geopolitical tensions with the U.S. and Taiwan.
PGIM Fixed Income’s Tom Porcelli, Chief U.S. Economist, hosts Shikeb Farooqui, PhD, Lead Asia Economist.
Recorded on January 9, 2025.