Technology sector analyst, Brad Lewis unpacks how AI is impacting the outlook for credit markets across software and other sectors. He provides insight into the Barings' team's framework for parsing winners from losers, and talks about what's next for AI.

Episode Segments:
(01:22) – Brad’s background & tech’s historical development in high yield
(04:39) – Why AI became THE story in late-25/early-26: new models, agents & an equity sell-off
(09:01) – AI fears bleed into credit markets: Leveraged loans, BDCs, CLO selling, lower terminal values
(11:21) – SaaS-pocalypse or hyperbolic headlines?
(15:03) – Parsing winners from losers / core vs. non-core software
(16:34) – 3 ways to identify if a company really has a “moat” or defensible business model
(21:06) – AI-related risks and opportunities in sectors outside of software
(23:50) – How AI exposures compare between public and private credit markets
(29:35) – What Brad is watching next for AI (and where investors may not be focusing yet)
(38:44) – Why process matters more than ever amid relentless AI headlines
(40:22) – More optimistic or pessimistic on AI’s credit market impact in the years ahead?

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IMPORTANT INFORMATION

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