Crunching credit podcast – December 2025

In our latest Crunching credit podcast we analyse how defaults have moved higher, though still remain low historically, and the extent to which new issuance has ramped up this year.

We also look at the main company stories the team have uncovered, and the changing nature of the investment landscape under AI, with the huge borrowing required for its capital intensive infrastructure meaning that prudent credit risk aware investing is crucial.

Stephen Tapley, Senior Fund Manager, discusses with Ewan McAlpine, Investment Director, the key issues these stories raise for investors and the changing dynamics in bond markets.

Recorded: 8 December 2025
Duration: 13 mins

The value of investments and the income from them may go down as well as up and is not guaranteed. Investors may not get back the amount invested. The views expressed are those of the speaker at the date of publication unless otherwise indicated, which are subject to change, and is not investment advice.