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Further acceleration in AI debt issuance has the potential to steer demand away from government bonds, according to Amundi, Europe’s largest asset manager. “At some point it could have a crowding effect, but we are not there yet,” Gregoire Pesques, the firm’s chief investment officer for global fixed income, tells Bloomberg News’ James Crombie and Bloomberg Intelligence’s Tolu Alamutu in the latest Credit Edge podcast. “It’s a risk that we monitor,” says Pesques, whose company has $2.7 trillion under management. They also discuss value in corporate debt relative to government bonds, how G7 countries are behaving more like emerging markets and Amundi’s concerns about central bank independence.

 

Further acceleration in AI debt issuance has the potential to steer demand away from government bonds, according to Amundi, Europe&rsquo;s largest asset manager. &ldquo;At some point it could have a crowding effect, but we are not there yet,&rdquo; Gregoire Pesques, the firm&rsquo;s chief investment officer for global fixed income, tells Bloomberg News&rsquo; James Crombie and Bloomberg Intelligence&rsquo;s Tolu Alamutu in the latest Credit Edge podcast. &ldquo;It&rsquo;s a risk that we monitor,&rdquo; says Pesques, whose company has $2.7 trillion under management. They also discuss value in corporate debt relative to government bonds, how G7 countries are behaving more like emerging markets and Amundi&rsquo;s concerns about central bank independence.
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The Credit Edge reviews the top credit news of the week and looks at the week ahead, with in-depth research of the most important corporate sectors, trends and themes. Analysis of specific corporate bonds and credit default swaps is backed by Bloomberg Intelligence's robust data sets and indexes.

The Credit Edge reviews the top credit news of the week and looks at the week ahead, with in-depth research of the most important corporate sectors, trends and themes. Analysis of specific corporate bonds and credit default swaps is backed by Bloomberg Intelligence's robust data sets and indexes.

The Credit Edge by Bloomberg Intelligence

Europe's Largest Asset Manager Warns of AI Debt Deluge Crowding Out

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/067f8b37-619c-4187-af49-b474010ab6e4/transcript