All the Credit, Ep. 40: Breaking the Bank?

Just a few months ago, the market was confident that post global financial crisis, financial sector reforms, and regulatory scrutiny ensured that the U.S. banking system was rock solid, and that the next cycle’s culprit would emanate from elsewhere. However, banking is once again front and center as investors weigh systematic risks from another prospective real estate crunch—this time in the commercial property sector.

On this episode of PGIM Fixed Income’s All the Credit®, with guests Jason Pan, CFA, FSA, Securitized Products Credit Research Analyst, and David Jiang, U.S. Investment Grade Credit Research Analyst, we’ll outline the scale of the potential problem, including the cadence of decay and potential flashpoints in commercial real estate, and discuss potential transmission through the banking system, extension of credit, and the real economy.

Brian Barnhurst, CFA, Co-Head of Credit Research, returns to All the Credit® as host, alongside Mike Collins, CFA, Senior Portfolio Manager.

Recorded on June 9, 2023.

PGIM Fixed Income
PGIM Fixed Income

PGIM Fixed Income is a global asset manager offering active solutions across all fixed income markets. The company has portfolio management and research teams in Newark, New Jersey, London, Amsterdam, Zurich, Munich, Singapore, Hong Kong, and Tokyo. As of December 31, 2022, the firm has $770 billion of assets under management, including $350 billion in institutional assets, $169 billion in retail assets, and $251 billion in proprietary assets. Nearly 1000 institutional investors entrust PGIM Fixed Income with their assets.

Rupal Shah
Principal, Client Advisory Group
655 Broad Street
Newark, NJ, USA 07102

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