Podcast: Rates with Wayne Dahl
An exploration of what’s driving the rise in global interest rates and the resulting opportunities and risks for credit investors
Topics explored:
- The recent increase in government bond yields and how much of it reflects inflation versus a rise in real yields
- Global rate repricing, with higher yields in multiple countries
- The resilience of the U.S. consumer, although there are growing pressures due to higher borrowing costs and negative real wage growth
- How higher yields create attractive credit opportunities but have also led to greater dispersion among borrowers
- The importance of credit fundamentals and diversification
In September, the U.S. Federal Reserve increased interest rates for the first time in three years, defying expectations for rate decreases in 2026. In our latest episode of The Insight: Conversations podcast, Wayne Dahl, Co-Portfolio Manager of Oaktree’s Global Credit strategy, discusses what’s behind the rise in rates, how it’s reshaping the opportunity set in credit markets and where to find value today.
Listen here
Recorded on October 20, 2026.
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