Bernd Fischer
Showing 1–2 of 2 transcripts.
- Milken Institute1h 2m
Navigating Europe's New Volatility
Francesco Guerra, Howard Shore, James McCormack, Mohammed Alarian, Claire Cockleton, Peter Bayer, Bernd Fischer, Edward Ironman
Panelists at this event analyzed the European economic landscape, concluding that the ECB's €60 billion monthly quantitative easing program is insufficient to resolve structural debt issues despite projecting growth for the Deutschmark bloc and the UK. Experts including Fitch's James McCormack and Allianz's Mohammed Alarian warned of fragility in sovereign risk, citing a dangerous divergence between market sentiment and credit fundamentals alongside political threats from populist movements and the unresolved Ukraine conflict. The discussion concluded that long-term stability requires either a federal model transferring sovereignty to Brussels or a "two-speed Europe," as the current Eurozone remains an unstable hybrid lacking complete fiscal and banking integration.
- Milken Institute58 min
Power Shifts in Global Energy
John Raymond, Josh Harris, Pierre Breber, Karen Harbert, Bernd Fischer, Amy Christensen
Panelists analyzed a global oil market oversupplied by 2 million barrels per day, projecting a one-to-two-year recovery to a $65–$70 price range driven by declining U.S. shale rig counts and shifting geopolitical dynamics. Investment strategies are pivoting toward cost-efficient Permian assets and midstream infrastructure while avoiding service sector risks, as the energy sector's share of high-yield debt has surged to 18%. Concurrently, the summary highlights a historic shift in global power centered on North America, where lower prices have spurred petrochemical growth and manufacturing relocation while reducing the fiscal stability of petrodollar-dependent regimes.