Trends with Benefits #35: State of Credit Markets with Fran Rodilosso
Ed Lopez, Head of ETF Product
November 17, 2020
In this episode I speak with Fran Rodilosso, Head of Fixed Income ETF Portfolio Management for VanEck, about his experience managing fixed income ETFs, the state of credit markets and where to find value in fixed income markets today.
The year 2020 has been a crazy year many would like to forget. It's been challenging on so many fronts including healthcare, society, politics as well as investment markets. March was a major test for fixed-income markets and fixed-income ETFs. The long-term outcome from Federal Reserve interventions and record debt issuance is still to play out, but fixed-income investors are facing new lows in yields and being forced to take on different or greater risks.
Fran is a 27 year veteran of fixed income portfolio management, managing both active and index-based strategies. Given his extensive experience in corporate credit and emerging markets I wanted to get his perspective on the state of play in fixed-income today, how ETFs performed and opportunities for finding value in credit markets. Two notable areas that came to the forefront this year that Fran provides insight into are fallen angel bonds and the ongoing development and accessibility of Chinese bond markets. These are areas that may be new and even seem a little far afield for investors used to typical fixed-income funds, but this has been anything but a typical year.
Trend or Fad
Listen for Fran’s take on connected home fitness, cryptocurrency and face masks.
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