The Navigator RBC Global Asset Management (U.S.) Inc.

SummaryIn the aftermath of the pandemic and the troubles faced by several regional banks last year, investors are on edge concerning unexpected losses on property loans, as well as a major step-up in provisioning in the commercial real estate (CRE) book for New York Community Bank (NYCB).  
In this episode of The Navigator podcast, Andrzej Skiba and John Guarnera discuss our view on the recent trouble spots within the US CRE sector and how we’re dealing with the turbulence. 
Key Points:It’s been an eventful start of the year and investors are concerned with the dynamics of the commercial real estate (CRE) sector.Occupancy is down and debt service is more expensive due to rising rates.Larger banks have been quick to address any asset deterioration, but smaller banks own 69% of the CRE debt.Periods of dislocation, in our judgement, can create the most interesting opportunities for fixed income investors, however careful credit selection is of paramount importance. 

On this episode of The Navigator, Brian Fairhurst, Managing Director, Institutional Sales at RBC GAM, is joined by Tim Muindi, Treasurer of ServiceNow, who shares how ServiceNow is pursuing their goal of building sustainable wealth, funding small business creation, and driving community revitalization in Black communities through impact investing. The conversation that ensues can be considered a case study for finance professionals on how to partner with their firm’s stakeholders to put cash to work for Impact.

On this episode, we sit down with Chief Strategist, Impact Investing, Ron Homer, as he reexamines the history of impact investing over the past 25 years, paying particular attention to important events that have shaped the investment category into what it is today. Ron also provides his input as to what he sees as the opportunities and challenges for impact investors.

Investors are always concerned with market volatility and this year is no exception. On this episode of The Navigator, Bethany Jessen, Client Portfolio Manager, talks with Andrzej Skiba, Head of BlueBay US Fixed Income, about his view on the issues plaguing the banking system, his expectation for interest rates and inflation, and how uncertainty can lead to opportunity.

BlueBay Senior Portfolio Manager, Tim Leary, reflects on the performance of high yield fixed income over the past 5 years and why he believes the asset class will continue to perform well in 2023 and beyond.

BlueBay Senior Portfolio Manager, Tim Leary, breaks down the recent Federal Open Market Committee meeting and its effect on fixed income markets.