Despite all the negative headlines around private credit, Neuberger Berman says direct loans pay a lot more than traded debt and barely make a loss. “We pretty consistently see a 200 basis point differential,” Susan Kasser, the gobal investment management firm’s head of private debt, tells Bloomberg News’ James Crombie and Bloomberg Intelligence’s David Havens in this episode of the Credit Edge podcast. “Our annualized loss rates are one basis point,” she adds. They also discuss how artificial intelligence helps to pinpoint investment opportunities and why private markets will probably continue to get bad press.

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Venezuela debt holders will likely have to wait years to get their money back after regime change in the oil-rich nation, according to Bloomberg Intelligence. “The near-term challenges are nothing short of massive,” says Damian Sassower, chief emerging-markets credit strategist, in this special episode of the Credit Edge podcast. “I think the rest of this year is spent trying to figure out how to make Venezuela investable,” said Spencer Cutter, who covers US energy producers for BI. They also discuss opportunities and risks for American and Canadian oil companies, the sale of Citgo Petroleum and the “domino effect” on China.

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Credit is one of many overvalued markets and the technology sector is particularly risky, according to Richard Bernstein Advisors. “We’re kind of in an everything bubble at the moment,” Mike Contopoulos, the firm’s deputy chief investment officer, tells Bloomberg News’ James Crombie and Bloomberg Intelligence’s Robert Schiffman in the latest Credit Edge podcast. “Tech is going to come back down to earth a little bit this year,” said Contopoulos. RBA, which invests across asset classes via exchange-traded funds, has no exposure to corporate credit. They also discuss value in collateralized loan obligations, mortgage-backed securities and Europe.

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