Bank Bonds – Everything You Ever Wanted To Know. The Dave Covey Interview.
Dave Covey is M&G’s Head of Credit Research, and his specialist subject is financial credit. I caught up with him in this podcast, spending 30 minutes talking about the valuation of bank bonds (why are they so wide compared with traditional credit?). We also took a look at the ‘accidents’ in the financial system so far in 2023 (for example the Credit Suisse AT1 blow-up, and Silicon Valley Bank’s collapse).
I hope you enjoy listening to it.
There is nothing more fascinating than a fixed income instrument. Nothing. Listen to Jim transport you to a world of convexity, basis points, covenants and debt-to-gdp.
For professional investors only. No advice here. No mention of funds or products. Personal thoughts, not that of any employer.
Banking analyst Dave Covey talks CS AT1s, BoA’s US Treasury bond holdings, CRE lending and so much more.
The value of investments will fluctuate, which will cause prices to fall as well as rise and you may not get back the original amount you invested. Past performance is not a guide to future performance.