BDCs, AI Disruption, Iran Oil Shock: What Lies Beneath In Credit Markets

Neuberger Berman3.3K FollowersFollow5ShareSavePlay(19min)CommentsSummaryCredit index spreads have been largely unchanged this year - but the calm surface belies a more complex picture underneath.Rising dispersion, AI-driven disruption fears, widening BDC spreads, and the military conflict in the Middle East are reshaping the risk landscape for fixed income investors - without much additional compensation showing up at the credit index level.On this episode, Ashok Bhatia, Neuberger's Chief Investment Officer and Global Head of Fixed Income, helps unpack what's really going on beneath the surface in credit markets.

Getty Images Originally published on March 12, 2026 Transcript Anu Rajakumar: For credit investors, one of the more challenging backdrops is when things in markets and the economy look stable on the surface, but the underlying picture is getting more uneven. UntilThis article was written byNeuberger Berman3.3K FollowersFollowNeuberger Berman was founded in 1939 to do one thing: deliver compelling investment results for our clients over the long term. This remains our singular purpose today, driven by a culture rooted in deep fundamental research, the pursuit of investment insight and continuous innovation on behalf of clients, and facilitated by the free exchange of ideas across the organization. From offices in 39 cities across 26 countries, Neuberger Berman manages a range of equity, fixed income, private equity and hedge fund strategies on behalf of institutions, advisors and individual investors worldwide. With 763 investment professionals and 2,850 employees in total, Neuberger Berman has built a diverse team of individuals united in their commitment to client outcomes and investment excellence. Our culture has afforded us enviable retention rates among our senior investment staff, and has earned us citations as first or second (among those with 1,000 or more employees) in the Pensions & Investments “Best Places to Work in Money Management” survey each year since 2014. As a private, independent, employee-owned investment manager, Neuberger Berman is structurally aligned with the long-term interests of our clients. We have no external parent or public shareholders to serve, nor other lines of business to distract us from our core mission. And with our employees and their families invested alongside our clients—plus 100% of employee deferred cash compensation directly linked to team and firm strategies—we are truly in this together. The firm has $538 billion in assets under management as of June 30, 2025. For more information, please visit our website at www.nb.com.For important disclosures: https://www.nb.com/disclosure-global-communications