Credit Matters by IGM
Credit Matters by IGM is a weekly podcast hosted by Shankar Ramakrishnan that examines the latest developments in credit markets. Each episode features conversations with market insiders and top analysts from Informa Global Markets about credit events, trends and deals. It is aimed at listeners who want informed analysis of the forces shaping global credit markets.
Episodes
Why Credit Markets Are Booming — And What Could End It
Ivan Hrazdira, Head of Debt Capital Markets at Credit Agricole, joins hosts Shankar Ramakrishnan and Bruce Clark to discuss how Fed policy, government actions, and election outcomes may affect credit markets. They review the market’s delayed digestion of the latest Fed decision, skepticism about an October hike so close to the midterms, and unusually strong issuance nearing $1.7T amid tight spread
Can Diversity and Inclusion Propel the Future of Capital Markets?
Dean Chamberlain, CEO of Mischler Financial, joins the Credit Matters Podcast to discuss the role of minority broker-dealers in U.S. bond markets, including helping issuers meet diversity objectives, serving as co- or lead bookrunners, and widening bond distribution with a stickier investor base. He shares the history of service-disabled veteran-owned firms, Mischler’s origins in California legisl
The Risk In Credit Risk Transfers
In the latest episode of "Credit Matters," Shankar Ramakrishnan (Head of U.S. Credit & Market Engagement, IGM) and Bruce Clark (Head of Rates Market Coverage, IGM) speak with Matthew Bisanz (Financial Regulatory Partner, Mayer Brown) about credit risk transfers - also known as CRT/CRS in the U.S. and SRT in Europe - and how banks sell first-loss credit exposure via structured notes without sel
The Bond Market in 2026: Unpacking Dynamics and Trends
In the latest episode of "Credit Matters", Pranav Gupta (MD IG Syndicate, Morgan Stanley) joins Shankar Ramakrishnan and Bruce Clark to discuss record primary dollar bond issuance driven by U.S. and Yankee banks, with the big six U.S. banks nearing $150 billion by Q3 and already surpassing last year. Gupta explains how renewed Middle East escalation, including Red Sea attacks, has pushed the 10-ye
AI's Growing Influence on Credit
In the latest episode of "Credit Matters," Stephen Burgess (Head of Leveraged Finance, U.S. Bancorp.) joins Shankar and Bruce to discuss why high-yield bond and leveraged loan spreads are near record tights as investors lock in attractive all-in yields. Stephen shares his view that rates may remain relatively flat for a prolonged period, how a new Fed posture could tighten financial conditions wit
Interest Rates & Inflation: What’s Next?
In the latest episode of "Credit Matters", Shankar Ramakrishnan and Bruce Clark are joined by Marcus Dewsnap (Head of Fixed Income Strategy, IGM) to discuss how the on-and-off Iran conflict and oil-price moves are driving interest-rate expectations and government bond yields across the U.S., UK, and Eurozone. They review how yields started the year with a disinflationary tone, then repriced amid G
From Car Loans to Credit Cards: The Encompassing World of Securitization
In the latest episode of "Credit Matters," Shankar Ramakrishnan (Head of U.S. Credit & Market Engagement, Informa Global Markets) and Bruce Clark (Head of Rates Market Coverage, Informa Global Markets) speak with Navneet Agarwal (Global Head of Structured Finance, Moodys Ratings) about how securitization turns future cash flows from assets like auto loans, mortgages, credit cards, device payme
The Future of Bitcoin: Trends, Challenges, and Alternatives
In the latest episode of "Credit Matters," Shankar Ramakrishnan and Bruce Clark speak with Jill Cetina (Executive Professor and Associate Director of the Commercial Banking Program, Texas A&M University) about how Bitcoin’s market role has shifted as alternatives like precious metals and stablecoins have gained traction. They discuss dollar weakness versus recent commodity-driven shocks tied t
The Evolution and Impact of Financial Covenants
In the latest "Credit Matters" podcast, we are joined by Ian Walker, the Head of Legal Innovation at Covenant Review, to explore the complex realm of financial covenants. Ian, a seasoned expert in legal covenant analysis, shares his insights on how these covenants serve as essential guardrails for lenders and investors, ensuring financial stability and offering early warning signs of potential def
The Power of Non-US Investors in Dollar Markets
In the latest episode of "Credit Matters", Jonathan Anderson, Global Head of Debt Syndicate and US DCM at SMBC Nikko Securities America, joins Shankar Ramakrishnan and Bruce Clark to discuss the growing influence of Asian and Middle Eastern investors in US dollar fixed income, including Reg S markets and how liquidity and attractive yields support demand.They address whether “sell America” narrati
Hybrid Bonds: The Future of Finance
In the latest episode of "Credit Matters," guest Dan Botoff, Global Head of DCM Syndicate at RBC Capital Markets, joins Shankar Ramakrishnan (Head of U.S. Credit & Market Engagement, Informa Global Markets) and Bruce Clark (Head of Rates Market Coverage, Informa Global Markets) to discuss hybrid bonds and preferred securities—capital instruments blending debt and equity that can provide issuer
Fitch Ratings on Market Trends & Risks
In the latest episode of "Credit Matters," guest Meghan Neenan (NA / Head of North America Non-Bank Financial Institutions, Managing Director) joins host Shankar Ramakrishnan and co-host Bruce Clark to explain what private credit is, how it has grown since the global financial crisis, and why it matters for financial markets. Neenan breaks down key segments such as direct lending and business deve
From Iran Tensions to AI Ventures: The Credit Market Perspective
Hosts Shankar Ramakrishnan and Bruce Clark are joined by Dave Corbell to discuss the state of US and European primary credit markets amid volatility tied to the Iran conflict, inflation concerns, private credit risks, and shifting rate expectations.They note heavy front-loaded issuance as banks push borrowers to seize brief market windows, with the US posting a record $651bn investment-grade first
From Dollars to Euros: A Dive into Global Credit Trend
On this episode of Credit Matters, host Shankar Ramakrishnan is joined by Bruce Clark and European credit analyst Matthew Barrett, to discuss the surge in “reverse Yankee” issuance—US companies raising debt in Europe—as AI infrastructure funding drives jumbo deals and issuers seek diversification to avoid overcrowding the dollar market and rising costs. They explain how rate differentials, a tight
Is the Bond Market Poised for a Major Shift?
On this episode of “Credit Matters,” Shankar Ramakrishnan and Bruce Clark recap a volatile week in rates and credit as Middle East conflict headlines pushed oil prices higher, helping stall US investment grade issuance after a busy start to the week.Bruce outlines a dramatic repricing of global central bank expectations, with Europe and the UK turning notably more hawkish while US futures shift fr
Record IG issuance, war-driven rate volatility & where to invest now
On the second episode of "Credit Matters", Shankar and Bruce discuss record-breaking US investment grade issuance and a rebound in high yield, including a triple-C tap, despite growing strains and broader volatility. Guest Winnie Cisar of CreditSights says issuance is “bananas” even as borrowing costs rise, driven by strong fundamentals and investor demand for attractive all-in yields (IG above 5%
Why US investment grade bonds are booming amid the Iran war
This week on Credit Matters, Shankar Ramakrishnan kicks off with expectations for a massive March with $230B of new supply and a potential $2T year.He and Bruce Clark discuss the demand “technicals” behind strong issuance, attractive 4–6% yields, and near-non-existent default rates, alongside risks from volatility tied to the Iran war, oil-price shocks, inflation, and shifting rate-cut expectation
Introducing... Credit Matters by IGM
Shankar Ramakrishnan, Head of U.S. Credit and Market Engagement at Informa Global Markets, breaks down the hottest topics in the world of investment banking in IGM's weekly podcast.Find out more about Informa Global Market's data services: https://informaconnect.com/igm/
