269: Debt ceiling, FAANGs and football pitches - Market Talk
Against a backdrop of somewhat quieter markets, we ask what are short-term Treasuries telling us about debt ceiling negotiations? What’s behind the strong performance of US technology stocks? And why does China need to revitalise its property sector? Ben Bennett explains all. This episode is hosted by Frances Watson, Content Manager. All data sourced from Eikon as at 22 May. For professional...
16m May 23, 2023
16m
268: Spotlight on European credit
With bonds and equities falling in tandem, 2022 was an exceptional year for the financial markets. As we approach 2023’s halfway point, have we returned to ‘normal’? And what does the recent volatility in the banking sector mean for investors in European fixed income assets? Andrew Lowry, European Content Manager, sits down with LGIM’s Head of Euro Credit Marc Rovers to find out.
15m May 17, 2023
15m
267: Blog on the pod: is water the most overlooked natural resource?
It’s easy to take clean running water for granted, but climate change, population growth and infrastructure failings mean demand will increasingly outstrip supply. Elisa Piscopiello, ETF Analyst at LGIM, explains the role of technology in addressing the problem, and shares some water-saving tips to use at home. This podcast is hosted by Harry Brooks, Content Manager. All data is from Eikon as...
17m May 11, 2023
17m
266: Central bank deluge, China and coronation quiche - Market Talk
Against a background of macroeconomic uncertainty, are central bankers right to hike interest rates? Is China’s post-COVID recovery still on track? And what’s the verdict on the coronation quiche? Ben Bennett, Investment Strategist APAC, explains all. This call is hosted by Frances Watson, Content Manager. All data is sourced from Eikon as at 03 May 2023. For professional investors only. Cap...
18m May 04, 2023
18m
265: Active ownership in action
To coincide with the launch of LGIM’s 12th annual Active Ownership report, we discuss the depth and breadth of our work in 2022 on the issues of deforestation, biodiversity, cybersecurity and the effect of climate change on real assets, while also discussing what’s front of mind for 2023. Panellists include: Michael Marks, Head of Investment Stewardship and Responsible Investment Integration A...
26m Apr 25, 2023
26m
264: Exploring emerging markets – the CIO call
For this month’s call, CIO Sonja Laud is joined by two experts for an in-depth discussion on emerging market debt and equities. As the growth differential between emerging market and developed market economies stands at its highest level for ten years, the panel also discusses the need for investors to focus on the structural implications of the rapid shift in wealth from the West to the East. ...
32m Apr 20, 2023
32m
263: US employment, China credit and gold – Market Talk
What are the latest jobs data telling us about the state of the US economy? How will US core inflation numbers shape Fed thinking? What’s behind the recent uptick in China’s credit growth? And why is the price of gold within touching distance of a new high? Ben Bennett explains all. All data sourced from Eikon as at 11 April 2023 unless otherwise stated. This episode was recorded before the re...
17m Apr 13, 2023
17m
262: What does the term ‘buyout’ actually mean?
With the backdrop of rising interest rates leading to lower pension scheme liabilities on average, many schemes have seen their funding positions improve steadily in recent years. As a result, we are hearing increasing talk of the terms ‘buyout’ and ‘buy-in’ in the world of defined benefit pensions. But what do these terms really mean? And how can schemes prepare for buyout?  Lisa Purdy, LGIM’...
12m Apr 05, 2023
12m
261: Central banks, jittery markets and climate scenarios – the CIO call
After two unscheduled CIO calls on developments in the banking sector, we return with a regular episode to take stock of the investment landscape, with a focus on the interplay between policymaking, economic growth and market pricing. During the call, which is hosted by LGIM’s CIO, Sonja laud, we also touch on an important piece of proprietary research into long-term climate scenarios – and wh...
24m Mar 28, 2023
24m
260: A balanced view of banking developments – Market Talk
The last couple of weeks have seen investor nerves somewhat shredded. But why have equities proved more resilient than credit? And have central bankers done enough to restore confidence in the banking system, or will there be more casualties to come? Ben Bennett calmy outlines his thoughts. This episode is hosted by Frances Watson, Content Manager. All data is sourced from Eikon as at 23 Marc...
18m Mar 24, 2023
18m
259: Banks, bondholders and the macro outlook
 We’ve held a second live webinar to discuss ongoing pressure on banks worldwide, underscored by the takeover of Credit Suisse* by UBS, which raises questions about the health of the sector, the treatment of bondholders and the global economic outlook.  This episode is a recording of that webinar with our clients, which took place on 17 March and was hosted by Sonja Laud, LGIM’s Chief Investme...
36m Mar 21, 2023
36m
258: Banking sector stress – what do investors need to know?
We’ve held a special live webinar with our clients to discuss the pressure on the global banking sector – and on European lenders in particular – following the closure of SVB, the biggest US bank failure since 2008. This episode is a recording of that webinar, which was hosted by Sonja Laud, LGIM’s Chief Investment Officer, on 17 March. Sonja was joined by Colin Reedie, Head of Active Strateg...
46m Mar 17, 2023
46m
257: Blog on the pod: how the market found a home for orphan drugs
Innovative treatments are needed for those affected by rare conditions, but how do the economics stack up given the huge costs involved? Elisa Piscopiello, ETF Analyst at LGIM, explains how government incentives are helping to finance the development of life-changing medicines. This podcast is hosted by Harry Brooks, Content Manager. All data is from Eikon as at 28 February 2023 unless otherw...
13m Mar 16, 2023
13m
256: Curve inversion, credit and China
With inflation as sticky as it is, bond yields are on the rise. But why isn’t credit following suit? And is China’s growth forecast for 2023 enough to avoid a potential worldwide recession? Ben Bennett explains all. This podcast is hosted by Frances Watson, Content Manager, and was recorded before Jay Powell’s congressional testimony. All data is from Eikon as at 07 March 2023 unless otherwis...
17m Mar 08, 2023
17m
255: Japan – dancing to a different tune?
While Western economies continue to keep interest rates at elevated levels, it seems Japan’s fiscal expansion knows no bounds. So what’s behind the country’s fiscal largesse and what effect may this have on its consumers and company earnings? Chris Teschmacher, Fund Manager on the Asset Allocation team, gives us his take on all things Japanese. This episode is hosted by Frances Watson, Content...
22m Mar 02, 2023
22m
254: Ukraine, geopolitical risk and mispriced markets – the CIO call
A year after Russia’s invasion of Ukraine, Sonja Laud, LGIM’s Chief Investment Officer, discusses what investors have learned about geopolitical risk and its interplay with markets in the wake of the tragic conflict that continues to this day. Sonja is joined by Will Riley, Head of Solutions, and Ed Wicks, Head of Trading. The panel also cover: Whether markets are mispricing the macroeconomic...
32m Feb 23, 2023
32m
253: Mixed signals from the US and China as the Bank of Japan appoints a new governor – Market Talk
After a strong start to year for both equities and credit in the US, has market sentiment become uncoupled from fundamentals? Why is China seemingly displaying the same pattern? And as the Bank of Japan appoints a new governor, what does this mean for its yield curve control policy – and global fixed income investors? Ben Bennett breaks down all the latest market-moving news. This podcast is h...
18m Feb 16, 2023
18m
252: Blog on the pod: What did we learn from the latest round of central bank action?
LGIM’s Senior European Economist Hetal Mehta breaks down the latest round of rate hikes from the Bank of England, ECB and Fed. After a winter of gloomy forecasts, did the messaging from the various central banks allow for some – cautious – optimism? And could the end of the current hiking cycle be in sight?  This podcast is hosted by Andrew Lowry, European Content Manager.  For professional i...
13m Feb 09, 2023
13m
251: Blog on the pod: ‘Tis the season
Now that most companies have released their Q4 earnings statements Lars Kreckel, Global Equity Strategist in the Asset Allocation team, expands on his recent blog, formulating his thoughts on European and US earnings, the ‘r’ word and the effect of China’s reopening on global corporates. The podcast is hosted by Frances Watson, Content Manager. For professional investors only. Capital at risk.
18m Feb 03, 2023
18m
250: Rallies, soft landings and rate rises - Market Talk
What’s behind the latest rise in equities, bonds and credit? Is the glass half-full or half-empty when it comes to forecasting a US recession? And as China starts to reopen, has economic activity returned to full throttle? Ben Bennett explains all. This podcast is hosted by Frances Watson, Content Mananger. All data sourced from Eikon as at 30 January 2023 unless otherwise stated. For profes...
17m Jan 31, 2023
17m
249: How to pick a third-party fund manager
How does a fund manager pick a third-party fund manager? How important is performance, personality and positioning? In this episode, Justin Onuekwusi, Head of Retail Investments, EMEA was joined by Francis Chua, Fund Manager and Mireille Bensimon, Investment Analyst from LGIM’s Multi-Asset team, to discuss the key considerations for selecting external funds within our multi-asset portfolios. A...
26m Jan 26, 2023
26m
248: In conversation with Colin Reedie
LGIM’s Head of Active Strategies Colin Reedie is one of our most experienced investors. In this episode he breaks down his storied career, from his early days flying with the RAF to his more recent role navigating the rapidly evolving investment landscape. This episode is hosted by Andrew Lowry. For professional investors only. Capital at risk.
27m Jan 19, 2023
27m
247: Are we there yet?
Sonja Laud, LGIM’s Chief Investment Officer, and her expert panel discuss the outlook for the global economy and key asset classes in 2023, in our first CIO call of the year. Amid a still-challenging macro and market context, we offer answers to the most pressing questions for investors: How bad might things get? And what could signal a turnaround? Sonja is joined by Colin Reedie, Head of Act...
34m Jan 12, 2023
34m
246: China reopening, falling US profits and dwindling European inflation – Market Talk
Where did Santa get to at the end of 2022? How will China’s economy fare in light of the easing of its COVID restrictions? And what was behind Japan’s recent move to abandon its yield curve control? Ben Bennett explains all in the first episode of Market Talk for 2023. For professional investors only. Capital at risk.
18m Jan 05, 2023
18m
245: Real assets outlook
To say real assets – most notably the areas of real estate equity and private credit – have endured a challenging year may be somewhat of an understatement. That said, starting yields for private credit going into 2023 equate to those not seen in years while, in real estate equity, a recovery in certain sectors of the market may be more of a possibility as we head into 2023. Join Bill Page, Hea...
22m Dec 15, 2022
22m
244: Thematic investing: a look back on 2022 and our longer-term outlook
Markets have been volatile in 2022, but how have thematic investments fared? And looking to 2023 and beyond, which thematic areas might take centre stage given technological developments, the geopolitical landscape and market forces? Join Aude Martin and Tobias Merfeld from LGIM’s ETF investment team for a wide-ranging conversation on thematic investment this year, next year and beyond. This e...
18m Dec 12, 2022
18m
243: What to expect in 2023 – the CIO call
In our final CIO call of the year, Sonja Laud, LGIM’s Chief Investment Officer, discusses the key themes that have dominated 2022 for investors and surveys the market landscape in 2023. Key topics covered include the economic outlook, energy security, central bank policy, thematic investing and the prospects for different asset classes. Sonja is joined by: Emiel van den Heiligenberg, Head of ...
33m Dec 08, 2022
33m
242: Looking back and looking forward – Market Talk
Just how badly have asset classes performed in 2022? And where next for bonds, credit and equities given investors start 2023 with a decent yield cushion?  In view of the current tightness in the US labour market will the Fed be able to navigate a hard or soft landing? Join Ben Bennett, Head of Investment Strategy & Research for his whistlestop take on financial markets. This episode is hosted...
18m Dec 01, 2022
18m
241: In conversation with Richard Romer-Lee
In this episode Richard Romer-Lee, CEO at Square Mile Investment Consulting & Research, chats with James Crossley, Head of UK Wholesale Distribution at LGIM, about how the asset management industry has evolved during his City career, the role of ‘alternatives’ and why he is excited about responsible investing. Richard also reveals how he managed to appear on the popular ITV programme, Blind Dat...
19m Nov 24, 2022
19m
240: COP27 and the case against blanket divestments – the CIO call
In this month’s episode, Sonja Laud, LGIM’s chief investment officer, discusses the key takeaways from the COP27 climate summit thus far. She also argues for forceful engagement with companies key to the energy transition, where possible, rather than blanket divestments. Sonja is joined by Kurt Morriesen, Head of ESG Advisory, who attended the summit in Sharm El Sheikh, and Nick Stansbury, Hea...
34m Nov 16, 2022
34m
239: Swimmer Lewis Pugh on the climate crisis and coral
Lewis Pugh, the endurance swimmer and UN Patron of the Oceans, discusses his recent swim (https://protect-eu.mimecast.com/s/8hM0CRo0yTrrvrWfvr-uw?domain=eur03.safelinks.protection.outlook.com) to raise awareness of the threat posed by climate change to coral reefs and biodiversity. During the episode, Lewis makes a powerful case for protecting our oceans and reaching net-zero carbon emissions....
24m Nov 10, 2022
24m
238: Fed stays firm, China vol and US CPI – Market Talk
Despite credit rallying in the hope of a US policy pivot, the Federal Reserve has reaffirmed its intention to keep a lid on inflation at all costs. Whether they’ve managed to do that or not might just be evident in upcoming US CPI numbers. So, could we have reached peak US inflation? And what’s behind the volatility in the Hang Seng index? Ben Bennett, Head of Investment Strategy & Research exp...
18m Nov 07, 2022
18m
237: Q3 earnings: what we’ve learnt from the hits and misses
In this episode Lars Kreckel, Global Equity Strategist, discusses the US Q3 earnings season and what it tells us about the state of the consumer and the wider economy. This episode is hosted by Harry Brooks, Content Manager. Nasdaq YTD total return figure cited from Refinitiv as at 02/11/2022. For professional investors only. Capital at risk.
15m Nov 03, 2022
15m
236: Blog on the pod: liquidity, cycles and bubbles
In this episode, Emiel van den Heiligenberg, Head of Asset Allocation, discusses why liquidity is so important for investors, where we are in the economic cycle and, this being the season of Halloween, whether investors are experiencing market tricks or treats as we enter the final months of 2022. This episode is hosted by Frances Watson, Content Manager. Emiel’s blog can be accessed here. (ht...
21m Oct 27, 2022
21m
235: Healthcare technology: life-changing advances at the cutting edge
Having lagged behind other sectors in its uptake of technology, healthcare could now have reached a pivotal moment. From AI and natural language processing to genomics and robotics, technology holds potential to revolutionise how we diagnose and treat illness. In today’s podcast we examine the most promising developments in healthcare technology. Speaker: Aude Martin, Senior ETF Investment Spe...
13m Oct 20, 2022
13m
234: US midterms vs markets – the CIO call
Sonja Laud, LGIM’s chief investment officer, discusses how next month’s midterm elections might impact the US economic outlook and dollar assets more broadly. She also considers what UK bond market volatility tells us about the broader investment environment. Sonja is joined by: Jason Shoup, Deputy Head of US Fixed Income, LGIMA Tim Drayson, Head of Economics The episode is hosted by Max Juli...
30m Oct 13, 2022
30m
233: Fed whispers, Q3 earnings and US TIPS – Market Talk
Why is there renewed talk of a possible policy pivot from the US Federal Reserve? What should investors be focusing on heading into Q3 results season? And what are  10-year Treasury Inflation-Protected Securities telling us about the outlook for long-term inflation? Ben Bennett, Head of Investment Strategy & Research explains all. This episode is hosted by Frances Watson, Content Manager. For...
16m Oct 11, 2022
16m
232: A sterling effort? Reviewing the fallout from the UK’s mini-budget
It’s been a turbulent two weeks for the British economy, with Chancellor Kwasi Kwarteng’s ‘mini-budget’ sending sterling plummeting, gilt yields soaring and prompting an intervention from the Bank of England that successfully brought yields down. As the dust settles, what conclusions can investors draw – and where next for UK fiscal and monetary policy? Andrew Lowry, European Content Manager a...
15m Oct 06, 2022
15m
231: Navigating vol in global financial and European clean energy markets – Market Talk Asia Special
Real yields are rising, the dollar continues to firm against all major currencies and the UK economy has been caught in the crosshairs. But how should investors navigate this latest bout of global market turbulence? And in the wake of the energy supply shock how should investors look at the world of renewable energy, particularly against the current inflationary backdrop? Join Ben Bennett, Head...
26m Sep 28, 2022
26m
230: Striving to make index strategies net-zero heroes
With the race to net zero in full swing we examine how index investors can pursue such an objective through understanding how to define net zero, why it is important to act today, the different options available and the importance of company engagement. Join Stefan Bilby, Head of Index Distribution, as he chats to Fadi Zaher, Head of Index Solutions and Jeannette Andrews, Senior Global ESG man...
26m Sep 23, 2022
26m
229: Sometimes it’s hard to be a woman – tackling the gender pension gap
In this episode, Stuart Murphy, Legal & General’s Co-Head of DC, and Al Miles, Legal & General’s Senior Solutions Strategy Manager, discuss the issues that mean women’s pension pots are half the size of men’s when they come to retire. Is the gender pension gap just the inevitable consequence of the biological reality of pregnancy for women, or are there steps we could be all taking to mitigate...
24m Sep 21, 2022
24m
228: US and European tightening, China easing – Market Talk
Is the bear market rally in credit and equities officially over following the Jackson Hole meeting of central bankers? And what are the implications of higher gilt yields for UK investors? Ben Bennett, Head of Market Strategy and Research explains all. This episode is hosted by Frances Watson, Content Manager. For professional investors only. Capital at risk.
17m Sep 01, 2022
17m
227: Investing through a market regime shift – the CIO call
In our last episode of August, Sonja Laud, LGIM’s chief investment officer, discusses why the second half of 2022 has started on a decidedly more pleasant note than the first six months of the year, with a focus on earnings season and the prospects for fixed income and equities. Sonja is joined by: Colin Reedie, Head of Active Strategies Lars Kreckel, Global Equity Strategist The episode is h...
42m Aug 11, 2022
42m
226: Taiwanese tensions, a bleak BoE outlook and US inflation - Market Talk
In the last episode of Market Talk for the summer, Ben Bennett, Head of Investment Strategy and Research assesses implications for investors regarding the latest Chinese tensions with Taiwan, reasons behind the Bank of England gloom and states why the US inflation print, out this week, is one to watch. This episode is hosted by Frances Watson, Content Manager.
15m Aug 09, 2022
15m
225: We’re all goin’ on a summer holiday
In this episode we chat with Hetal Mehta, Senior European Economist, Emiel van den Heiligenberg, Head of Asset Allocation and Laura Brown, Head of Client Solutions to see how our investment experts will be spending their summer holidays, and what will be front of mind on their return? For a feel-good podcast, listen to #LGIM talks This podcast was hosted by Frances Watson, Content Manager, and...
18m Aug 04, 2022
18m
224: Market rallies, Fed’s move and China – Market Talk
In this episode, Ben Bennett, Head of Investment Strategy & Research, looks at reasons behind the rally in bond and equity markets, options for central bankers in light of weaker economic activity and  developments in China’s property market.   This episode, hosted by Frances Watson, Content Manager, was recorded before the Fed’s decision on 27 July.
16m Jul 28, 2022
16m
223: Is the party over for post-Jubilee Britain?
In this episode of Blog on the Pod: as the UK prepares for the Conservative Party to select its fourth leader since 2016, we explore the economic challenges facing the winner of the contest.   With the UK potentially facing choppy waters ahead, our Senior European Economist, Hetal Mehta, shares a broad overview of Britain’s prospects in the short and medium term.     This episode is hosted...
13m Jul 22, 2022
13m
222: The outlook for EM assets – the CIO call
In this month’s episode, Sonja Laud, LGIM’s chief investment officer, discusses the investment outlook over the coming months, with a focus on the growth vs inflation narrative and emerging markets. Sonja is joined by:   Uday Patnaik, Head of Emerging Market Debt Erik Lueth, Global Emerging Market Economist   The episode is hosted by Max Julius, Head of Content, and was recorded on Wednesd...
31m Jul 13, 2022
31m
221: In conversation with… Bill Hughes, Global Head of Real Assets
In this episode, hear what attracted Bill to the world of property in the first place, as well as his views on the role of big cities, urban regeneration and the need for sustainable buildings. Bill also shares his insights into why, he believes, the younger generation can enjoy a rewarding career in the built environment.   This episode is hosted by Frances Watson, Content Manager.
21m Jul 08, 2022
21m
220: Market Talk Asia Special
Against a backdrop of a gruelling six months for investors, we take a deep-dive into the world of high yield and investment-grade bonds, a look at underlying corporate fundamentals, and what to expect ahead of the upcoming Q2 results.   Speakers are:   Ben Bennett, Head of Investment Strategy & Research Matt Rees, Head of Global Bond Strategies   This episode is hosted by Frances Watson,...
24m Jun 30, 2022
24m