The Anonymous Meme Account Chronicling Credit Market Craziness
Odd Lots
Bloomberg
4.5 • 2K Ratings
🗓️ 25 January 2024
⏱️ 44 minutes
🧾️ Download transcript
Summary
The past few years have been pretty wild for anyone working in credit, the business of selling and trading corporate debt. First you had the pandemic, which changed working patterns across Wall Street. Then you had a surge in deal activity that had everyone working overtime to meet demand. Meanwhile, private credit's been booming and is now competing with banks' cash cow businesses of selling bonds and leveraged loans. And finally, everyone is wondering how long the credit space can withstand higher interest rates, and how frothy the underlying deals actually all. High Yield Harry, an anonymous social media account, has been chronicling it all -- making memes out of junk bond offerings, and cracking jokes about conversations with investment committees. In this episode, he talks about his experience working in both private and public credit, what it's like to run an anonymous FinTwit account, and the outlook for bonuses this year. High Yield Harry's voice is concealed in this episode to preserve anonymity.
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Transcript
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| 0:00.0 | At Public.com, you can earn 5.1% APY with a high-yield cash account. |
| 0:05.6 | No strings attached. Public.com, 5.1% APY as of December 2023 and subject to change, |
| 0:12.2 | disclosures and podcast description |
| 0:13.7 | US members only. |
| 0:14.7 | Hi there it's Jill Wiesenthal and Tracy Allaway the co-hosts of the |
| 0:19.1 | Oddlots podcast. If you're a fan of our coverage on things like auto clean energy markets there's a new show from |
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| 0:30.3 | every week hosts David Popidopolis and a panel of Bloomberg journalist will help you make sense of Elon Musk's latest actions and antics and the surprising way his companies intersect. |
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| 0:57.0 | Yep, you can listen to Elon Inc. from Bloomberg Business Week on Apple Podcast, Spotify, I-Heart, or wherever you get your podcast. Hello and I'm Joe Wiesenthal. |
| 1:15.0 | Hello and welcome to another episode of the Odd Thoughts podcast. |
| 1:19.0 | I'm Tracy Allaway. |
| 1:20.0 | And I'm Joe Wisenthall. |
| 1:21.0 | Joe, we're about to do something we've never done before. |
| 1:24.0 | I'm very excited about this. |
| 1:26.0 | This is something that I've always sort of like wanted to do. |
| 1:29.0 | Maybe even before we had a podcast, like even since I was like a little kid watching TV and like no like seeing like some like news |
| 1:36.7 | show or because we're gonna talk to like someone disguised right? |
| 1:40.4 | Yes we are going to talk to an anonymous source, an anonymous person, someone |
... |
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