Tension Over Fed's Dual Mandate, AI Growth's Impact on Spreads, Credits | Real Yield 12/12/2025

"Bloomberg Real Yield" highlights the market-moving news you need to know. Today's guests: JPMorgan Private Bank Global Head of Macro and Fixed Income Strategy Alexander Wolf, Richard Bernstein Advisors Deputy CIO Mike Contopoulos, Wells Fargo Global Head of High Grade Debt Syndicate Maureen O'Connor and BlackRock Head of Macro Credit Research Amanda Lynam.

Chapters:
00:00:00 - Real Yield opens
00:03:21 - Wolf and Contopoulos’ take on Powell and Fed’s Announcement
00:04:23 - Contopoulos: Not Sure Why Cutting Rates Right Now
00:07:07 - Wolf: Still View Fed As One That Can Independently Pursue It’s Mandate
00:08:29 - Wolf: Still Like High-Grade, All-In Yield
00:13:21 - O’Connor: Refinancing, M&A, Capex Driving Insurance
00:15:04 - Lynam: Not Anticipating Widespread Market Disruption
00:17:46 - Lynam: Steeper Yield Curve is in Some Ways Normalization
00:19:23 - O’Connor on Issuance and CDS
00:21:36 - What to Watch Next
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