<![CDATA[The Navigator]]>aac1c3f4-dcd4-55a8-a28d-0af93e916e8bFri, 27 Feb 2026 13:00:25 +0000Captivate.fmRBC Global Asset Management (U.S.) Inc.https://artwork.captivate.fm/c287581e-caba-4763-b25f-bb29868bd22f/7RQozrOchLmmPSJNzYcfW70B.jpgThe NavigatorRBC Global Asset Management (U.S.) Inc.RBC Global Asset Management (U.S.) Inc.An RBC Global Asset Management podcast series featuring conversations with thought leaders and decision makers about themes affecting the US Fixed Income markets and institutional investment community, presented through direct experiences, stories and anecdotes from the BlueBay U.S. Fixed Income team.https://the-navigator.captivate.fmfalseepisodicnopodcastMaking dollars and talking sense in emerging market debtMaking dollars and talking sense in emerging market debtFor this episode of The Navigator, we’re bringing you a conversation from Dollars and Sense, a podcast published by our colleagues at RBC BlueBay in London.

Mike Reed, Head of Global Financial Institutions, is joined by Polina Kurdyavko, Head of EM Debt, where they discuss increased geopolitical risk in relation to recent events, a weakened dollar and what it means for emerging market currencies, and the opportunities and challenges for the asset class in the year ahead.

]]>For this episode of The Navigator, we’re bringing you a conversation from Dollars and Sense, a podcast published by our colleagues at RBC BlueBay in London.

Mike Reed, Head of Global Financial Institutions, is joined by Polina Kurdyavko, Head of EM Debt, where they discuss increased geopolitical risk in relation to recent events, a weakened dollar and what it means for emerging market currencies, and the opportunities and challenges for the asset class in the year ahead.

]]>add2515d-2b6e-4a28-9ffd-c4681540aa40Fri, 27 Feb 2026 08:00:00 -050020:06falsefull17172025: tariffs, tech and U-turns2025: tariffs, tech and U-turnsFor this episode of The Navigator podcast, we’re bringing you a conversation from Unlocking Markets, a podcast published by our colleagues at RBC BlueBay in London.

Mark Dowding, CIO for our BlueBay fixed income platform, and Mike Reed, Head of Global Financial Institutions, discuss an eventful year in global markets.

From President Trump’s tariffs (and rollback of tariffs) to the ongoing AI boom, LDP leader Sanae Takaichi’s recent historic prime ministerial win in Japan, and high-profile bankruptcies in the US autos sector, there’s a lot to discuss as we head into year-end.

]]>For this episode of The Navigator podcast, we’re bringing you a conversation from Unlocking Markets, a podcast published by our colleagues at RBC BlueBay in London.

Mark Dowding, CIO for our BlueBay fixed income platform, and Mike Reed, Head of Global Financial Institutions, discuss an eventful year in global markets.

From President Trump’s tariffs (and rollback of tariffs) to the ongoing AI boom, LDP leader Sanae Takaichi’s recent historic prime ministerial win in Japan, and high-profile bankruptcies in the US autos sector, there’s a lot to discuss as we head into year-end.

]]>564bcdde-5dbc-4e9b-9fa9-0834e9c5dea6Mon, 08 Dec 2025 13:00:00 -050020:39falsefull1616Is the sun shining after the storm?Is the sun shining after the storm?Market volatility due to tariff measures implemented by President Trump have subsided and markets have rallied strongly, so what next? Andrzej Skiba, Head of BlueBay U.S. Fixed Income, and Mike Reed, Head of Global Financial Institutions, talk about the outlook for, and potential risks to, US credit markets as we head into 2026.

]]>Market volatility due to tariff measures implemented by President Trump have subsided and markets have rallied strongly, so what next? Andrzej Skiba, Head of BlueBay U.S. Fixed Income, and Mike Reed, Head of Global Financial Institutions, talk about the outlook for, and potential risks to, US credit markets as we head into 2026.

]]>ad76d70f-c23e-44a5-a306-cf6326dc0b34Tue, 04 Nov 2025 08:30:00 -050021:21falsefull1515Five disruptors facing the U.S. economyFive disruptors facing the U.S. economyFor this episode of The Navigator podcast, we’re bringing you a conversation from Strategic Alternatives, a podcast published by our colleagues at RBC Capital Markets.

Frances Donald, RBC Chief Economist, joins Vito Sperduto, Head, RBC Capital Markets U.S., to examine five disruptors reshaping the U.S. economy, complicating forecasts, and influencing decisions across markets and policy.

]]>For this episode of The Navigator podcast, we’re bringing you a conversation from Strategic Alternatives, a podcast published by our colleagues at RBC Capital Markets.

Frances Donald, RBC Chief Economist, joins Vito Sperduto, Head, RBC Capital Markets U.S., to examine five disruptors reshaping the U.S. economy, complicating forecasts, and influencing decisions across markets and policy.

]]>88a0fb25-7ec6-4133-8898-e22ca6bbeae0Tue, 30 Sep 2025 11:35:00 -050030:47falsefull1414Unpacking the ‘big, beautiful bill’: the winners, the losers, and the aftermathUnpacking the ‘big, beautiful bill’: the winners, the losers, and the aftermathTim Leary, Senior Portfolio Manager at RBC GAM, is joined by Justin Sok, Principal Consultant at Rich Feuer Anderson, to breakdown the winners and losers of the bill, and explore the potential impact on markets, businesses, and taxpayers. They also delve into the political dynamics behind the bill and its broader implications for growth, deficits, and investor decision-making.

]]>Tim Leary, Senior Portfolio Manager at RBC GAM, is joined by Justin Sok, Principal Consultant at Rich Feuer Anderson, to breakdown the winners and losers of the bill, and explore the potential impact on markets, businesses, and taxpayers. They also delve into the political dynamics behind the bill and its broader implications for growth, deficits, and investor decision-making.

]]>873c9e75-8979-4cb5-95a9-9b37541eaff6Wed, 16 Jul 2025 10:15:00 -050027:45falsefull1313Forks in the forecast: maneuvering markets when multiple paths are plausibleForks in the forecast: maneuvering markets when multiple paths are plausibleRBC’s Chief Economist Frances Donald joins Tim Leary to explore the uncertainty in markets, the myth of GDP, and why America doesn’t need jobs—it needs workers.

Listen in for a no-holds-barred look at the state of the economy and what might come next.

]]>RBC’s Chief Economist Frances Donald joins Tim Leary to explore the uncertainty in markets, the myth of GDP, and why America doesn’t need jobs—it needs workers.

Listen in for a no-holds-barred look at the state of the economy and what might come next.

]]>474128fd-3888-48ef-a05a-63bdc7f2b101Wed, 30 Apr 2025 16:00:00 -050029:24falsefull1212DOGE days ahead? What Trump’s return means to investorsDOGE days ahead? What Trump’s return means to investorsTim Leary, Senior Portfolio Manager, sits down with Clay Lowery, Executive Vice President, Research and Policy at the Institute for International Finance, to discuss the results of the 2024 U.S. Presidential Election, which saw Republican nominee and former President Donald Trump secure his second term. They go in-depth on the policy implications of this outcome, what it means for financial markets and discuss the priorities of the Trump’s agenda.

]]>Tim Leary, Senior Portfolio Manager, sits down with Clay Lowery, Executive Vice President, Research and Policy at the Institute for International Finance, to discuss the results of the 2024 U.S. Presidential Election, which saw Republican nominee and former President Donald Trump secure his second term. They go in-depth on the policy implications of this outcome, what it means for financial markets and discuss the priorities of the Trump’s agenda.

]]>6b196f28-3c67-461d-bc6b-dfe3d89f63dbTue, 26 Nov 2024 00:00:00 -050039:37falsefull1111U.S. Elections: A View from Inside the BeltwayU.S. Elections: A View from Inside the BeltwayIn this special episode of The Navigator, Tim Leary, Senior Portfolio Manager on the BlueBay U.S. Fixed Income team, and Clay Lowery, Executive Vice President, Research and Policy at the Institute for International Finance, discuss the mood in Washington, DC leading up to the election on November 5th. They go into detail on the potential outcomes and the policy impacts of what comes next. Listen in as Tim and Clay address what it all means for financial markets and the global economy. 

]]>In this special episode of The Navigator, Tim Leary, Senior Portfolio Manager on the BlueBay U.S. Fixed Income team, and Clay Lowery, Executive Vice President, Research and Policy at the Institute for International Finance, discuss the mood in Washington, DC leading up to the election on November 5th. They go into detail on the potential outcomes and the policy impacts of what comes next. Listen in as Tim and Clay address what it all means for financial markets and the global economy. 

]]>2b919221-288a-4065-b5e0-2915c6cad818Tue, 01 Oct 2024 00:00:00 -050046:29falsefull1010Not your father's LevFin market: the evolution of high yield bonds, loans and private creditNot your father's LevFin market: the evolution of high yield bonds, loans and private creditNot too long ago, high-yield bonds were commonly called "junk" bonds. But the asset class has matured, and it’s no longer your father’s leveraged finance market says Tim Leary, Senior Portfolio Manager on the BlueBay U.S. Fixed Income Team.

Tim joins Jason Pasquinelli, Head of Client Solutions at RBC GAM, on this episode of The Navigator to discuss the evolution of high yield bonds, loans and private credit, and how these competing elements of the leveraged credit market have led to misconceptions for investors. They also address the current state of the market, where we are finding opportunities, and the potential for volatility driven by the upcoming U.S. elections.

]]>Not too long ago, high-yield bonds were commonly called "junk" bonds. But the asset class has matured, and it’s no longer your father’s leveraged finance market says Tim Leary, Senior Portfolio Manager on the BlueBay U.S. Fixed Income Team.

Tim joins Jason Pasquinelli, Head of Client Solutions at RBC GAM, on this episode of The Navigator to discuss the evolution of high yield bonds, loans and private credit, and how these competing elements of the leveraged credit market have led to misconceptions for investors. They also address the current state of the market, where we are finding opportunities, and the potential for volatility driven by the upcoming U.S. elections.

]]>b0bbc45d-68f9-429e-87e0-5ff98721da7dThu, 11 Jul 2024 00:00:00 -050019:48falsefull99The current state of the commercial real estate marketThe current state of the commercial real estate marketSummary

In 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. 

]]>Summary

In 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. 

]]>39874f9d-afb8-4b96-8ad9-963abe0c849cTue, 02 Apr 2024 00:00:00 -050026:46falsefull88Aligning Assets for Racial Equity Goals — An Impact Investment Case Study with ServiceNowAligning Assets for Racial Equity Goals — An Impact Investment Case Study with ServiceNowOn 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 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.

]]>acbe4091-37de-4ae7-a3de-7fd44e9d4184Mon, 06 Nov 2023 00:00:00 -050036:37falsefull77A primer on impact investing – origins, perceptions and outlook ft. Ron Homer & Mindy FryeA primer on impact investing – origins, perceptions and outlook ft. Ron Homer & Mindy FryeOn 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.

]]>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.

]]>a497b83f-117d-4b10-83df-7211469d84a0Thu, 08 Jun 2023 00:00:00 -050015:21falsefull66Volatility creates opportunity ft. Bethany Jessen & Andrzej SkibaVolatility creates opportunity ft. Bethany Jessen & Andrzej SkibaInvestors 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.

]]>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.

]]>f2d8d359-898c-4726-8971-b1492c19c640Fri, 14 Apr 2023 00:00:00 -050022:43falsefull55Consistent results through inconsistent timesConsistent results through inconsistent timesBlueBay 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, 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.

]]>a6a96dac-1fb3-4a5c-ae0a-5cda49598456Mon, 21 Nov 2022 00:00:00 -050008:01falsefull1441US High Yield: Fed Up with InflationUS High Yield: Fed Up with InflationBlueBay Senior Portfolio Manager, Tim Leary, breaks down the recent Federal Open Market Committee meeting and its effect on fixed income markets.

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

]]>00f951ef-02bb-40a0-a735-3139939070caThu, 28 Jul 2022 00:00:00 -050008:54falsefull1331Quantitative tightening (QT) era beginsQuantitative tightening (QT) era beginsHead of BlueBay U.S. Fixed Income, Andrzej Skiba, breaks down the recent Federal Reserve Open Market Committee meeting and its effect on fixed income markets.

]]>Head of BlueBay U.S. Fixed Income, Andrzej Skiba, breaks down the recent Federal Reserve Open Market Committee meeting and its effect on fixed income markets.

]]>51e70796-3cb5-4370-b753-82c4441cbc3dThu, 16 Jun 2022 00:00:00 -050009:44falsefull1221What Fed action means for fixed incomeWhat Fed action means for fixed incomeHead of BlueBay U.S. Fixed Income, Andrzej Skiba, breaks down the Federal Reserve Open Market Committee meeting and specifically addresses the rise in market volatility.

]]>Head of BlueBay U.S. Fixed Income, Andrzej Skiba, breaks down the Federal Reserve Open Market Committee meeting and specifically addresses the rise in market volatility.

]]>0cbf0d81-a724-46fd-807d-cc216681e5b3Fri, 18 Mar 2022 00:00:00 -050007:47falsefull1111