Justin Takata, Head of Investment Grade Corporate Credit for Guggenheim Investments, discusses the interplay between primary issuance and trading volumes, developments in credit fundamentals, and where he is seeing risk and opportunity. U.S. Economist Matt Bush updates the Fed outlook following recent economic data. Also, we answer listener mail. Related Content: A Not-So-Funny Thing Happened on the Way to the Terminal Rate The Fed’s next move and beyond. Read Macroeconomic Commentary Silicon Valley Bank Replays the Ugly Consequences of Disintermediation Assessing ongoing risks related to the SVB collapse. Read Portfolio Strategy Commentary Investors Should Not Expect Much Relief from Volatility The transition to a world of quantitative tightening will lead to reduced liquidity, capital rationing and persistent swings in asset prices. Read Portfolio Strategy Commentary Investing involves risk, including the possible loss of principal. This material is not intended as a recommendation or as investment advice of any kind, including in connection with rollovers, transfers, and distributions. Such material is not provided in a fiduciary capacity, may not be relied upon for or in connection with the making of investment decisions, and does not constitute a solicitation of an offer to buy or sell securities. All content has been provided for informational or educational purposes only and is not intended to be and should not be construed as legal or tax advice and/or a legal opinion. Always consult a financial, tax and/or legal professional regarding your specific situation. This material contains opinions of the author or speaker, but not necessarily those of Guggenheim Partners, LLC or its subsidiaries. The opinions contained herein are subject to change without notice. Forward-looking statements, estimates, and certain information contained herein are based upon proprietary and non-proprietary research and other sources. Information contained herein has been obtained from sources believed to be reliable, but are not assured as to accuracy. Past performance is not indicative of future results. There is neither representation nor warranty as to the current accuracy of, nor liability for, decisions based on such information. Guggenheim Investments represents the following affiliated investment management businesses: Guggenheim Partners Investment Management, LLC, Security Investors, LLC, Guggenheim Funds Distributors, LLC, Guggenheim Funds Investment Advisors, LLC, Guggenheim Partners Advisors, LLC, Guggenheim Corporate Funding, LLC, Guggenheim Partners Europe Limited, Guggenheim Partners Japan Limited, GS GAMMA Advisors, LLC, and Guggenheim Partners India Management. SP 56855