Traded corporate debt is much more attractive than private credit, according to RBC BlueBay Asset Management. “Public credit is far superior,” Tom Moulds, senior portfolio manager for investment-grade fixed income at the $534 billion firm, tells Bloomberg News’ James Crombie and Bloomberg Intelligence’s Tolu Alamutu in the latest Credit Edge podcast. “There’ll probably be a point where you do see losses and people get very concerned,” says Moulds, referring to private debt, which he doesn’t invest in. “If we did slip into a period where growth looked weaker, then I think it would be a problem,” he adds. The three also discuss impact investing, defense sector opportunities, financial debt valuations, real estate stress and European sovereign risk.