In this episode of The OpenYield Markets Podcast, host Mark Hebert sits down with The Nomad of Fixed Income, Christopher Brigati, Chief Investment Officer & Managing Director at SWBC, a highly respected voice in the municipal and broader fixed-income market.

With more than 25 years of experience including senior roles at Valley National Bank, Advisors Asset Management, and Morgan Stanley, Chris shares a practitioner’s view of today’s macro landscape: stretched valuations, Fed uncertainty, geopolitical risk, and potential cracks forming in munis, corporates, and equities.

The conversation covers:

• Why markets keep grinding higher despite rising macro uncertainty
• Fed pivots and the split emerging inside the FOMC
• Munis: soaring issuance, weakening rainy-day funds, and tax-equivalent yields
• Equities: AI-driven valuations and why small/mid-caps may be the overlooked trade of 2025

Chris shares personal insights, including his favorite golf course, his go-to drink, and his S&P 500 prediction for the end of 2026.

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