The Weekly Fix

Hosted by RBC Global Asset Management (U.S.) Inc.

Business Investing

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150

Latest episode

Oct 2026

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About the show

Today’s markets move fast. To keep you up to speed each week, Andrzej Skiba, CFA, Head of BlueBay U.S. Fixed Income at RBC Global Asset Management, and members of his investment team will deliver forward looking market commentary and insights into what’s driving fixed income markets over the coming week.

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60 recent

October 27, 20267 min

The disappearing first-time homebuyer

What happens when an entire generation gets priced out of homeownership? Eric Hathaway, Portfolio Manager on the BlueBay U.S. Fixed Income team, breaks down the structural shifts reshaping the U.S. housing market. 📊 First-time homebuyers are vanishing from the market at an unprecedented pace, with the median buyer age climbing dramatically ⚠️ Rising mortgage costs continue to push homeownership further out of reach for prospective buyers 💡 Embedded prepayment risk in agency mortgages makes directionality the real challenge for investors The housing market is sending signals that matter across the fixed income landscape, and these structural shifts deserve attention from anyone navigating today's environment.

October 20, 20265 min

The AI fixed income selloff nobody saw coming

Is AI a trap for bond investors - or a buying opportunity in disguise? Andrzej Skiba, Head of U.S. Fixed Income on the BlueBay U.S. Fixed Income team, breaks down what's happening in AI-related fixed income and why it matters. Heavy issuance and leveraged investor capitulation have reshaped sentiment across AI-related credit The supply-demand imbalance has created a buyer's market for new deals coming to market Position sizing and patience are key when navigating this volatile space With market sentiment toward AI credit at its worst, the dislocation is reshaping how active investors approach the space.

October 13, 20265 min

Competition for capital is back

What if the real opportunity in fixed income isn't just higher yields, it's who holds the leverage? Anne Greenwood, Institutional Portfolio Manager on the BlueBay U.S. Fixed Income team, breaks down why growing global demand for capital is shifting power toward bondholders. Governments, companies, and AI infrastructure are all competing for the same capital When financing needs outpace investor appetite, borrowers offer greater compensation to attract it A wide spread alone doesn't make a bond a good investment—disciplined credit selection matters Anne explains why selectivity on issuer, structure, and price matters more than ever when competition for capital is growing.

October 6, 20264 min

When rising yields stop being credit's friend

What happens when the technical that usually supports credit starts working against it? Ben Romeo, Senior Trader on the BlueBay U.S. Fixed Income team, unpacks the shift. Rate volatility and inflation concerns are reshaping the buyer base Issuers are pulling back from the long end, redirecting demand to the secondary market Wider concessions on new issues are giving investors more attractive entry levels French sovereign risk has spilled from Europe into US credit It's a setup worth paying attention to, and one where fundamentals still hold up.

September 29, 20265 min

Rising yields just rewrote the bond playbook

What if rising bond yields are actually an opportunity in disguise? Neil Sun, Portfolio Manager on the BlueBay U.S. Fixed Income team breaks down what's driving the rate move and how investors should position. Higher starting yields provide a stronger income foundation The investment case doesn't require a sharp fall in interest rates Opportunities are uneven across the bond market The recent rise in bond yields has reshaped the income landscape for fixed income investors. Robust growth, higher energy prices, and uncertainty in the Middle East have all contributed to the shift in rates.

September 22, 20263 min

When yield isn't enough

A Federal Reserve hike lifts yields, but attractive income alone does not mean investors are being paid for the credit risk they take. Higher yields strengthen the foundation for income, but an attractive yield alone doesn't mean you're being paid for credit risk—both must be assessed together. Curve positioning matters: short-term yields may rise with policy rates, while persistent deficits and capital competition could keep long-term borrowing costs elevated even after the Fed eases. Financial strength is a competitive moat—companies with durable cash flows and manageable debt can keep investing when weaker competitors face financing constraints.

September 15, 20264 min

Inflation corners the Fed

Stubborn inflation has the Fed cornered while AI's biggest leaders call to slow down, two forces reshaping the outlook investors face right now. August inflation ran hot, pushing the market to price a roughly 90% chance of a September rate hike. The Trump administration's push for rate cuts leaves Fed Chair Warsh caught between stubborn inflation and political pressure to ease policy. Leaders of the three largest AI companies jointly called to slow development, warning AI is advancing faster than humans can monitor or control it.

September 1, 20263 min

The Fed's no-win moment

What happens when the Fed runs out of good options? That's the question hanging over markets after a hawkish Jackson Hole. This week, Tim Leary, Senior Portfolio Manager on the BlueBay U.S. Fixed Income team, unpacks what Chair Warsh's stance means for rates and risk. AI adoption and capex spend remain key drivers of US growth Higher-for-longer rates shape the market backdrop Tim explores the credit landscape heading into September From US-Canada trade tensions to escalating geopolitical risk, Tim walks through the forces that defined the week and what they mean for credit.

August 25, 20265 min

The Treasury's yield problem it can't buy its way out of

Can the Treasury buy its way out of a yield problem? Andrzej Skiba, Head of U.S. Fixed Income on the BlueBay U.S. Fixed Income team, breaks down what's really driving long Treasury yields—and why short-term fixes fall short. Treasury buybacks briefly eased long yields before markets grew skeptical The credible solution is deficit reduction, but political appetite for spending cuts looks limited Treasury and Fed policy are pulling in opposite directions, putting the Fed in a tricky spot With Labor Day approaching, investors are sifting through incoming economic data and policy statements for direction.

August 18, 20265 min

Where did all the junk go?

Where did the riskiest borrowers in credit actually go? Anne Greenwood, Institutional Portfolio Manager on the BlueBay U.S. Fixed Income team, unpacks how credit risk is migrating—and why the high yield label no longer tells the whole story. The high yield market has grown higher in quality, yet risk hasn't disappeared—it's moved. Much of it has migrated into leveraged loans and private credit over the past decade. The AI and data center buildout is bringing stronger balance sheets and new backstops into parts of high yield. When the market beneath the index changes, the index alone is no longer enough.

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