private markets theme, next is our weekly money undercover segment and we have david rosenberg from oaktreeapital management. this is bloomberg. ♪ scarlet: this is "bloomberg markets." this is our weekly segment where we cover the unique challenges and opportunities facing alternative investments. i want to turn things over now to lisa abramowicz. lisa: thank you. we have been talking about the golden era for credit, spreads on high-yield bonds being the tightest they have been since 2007 with everyone piling money into private credit funds. joining us now to talk about whether things can get even better, david rosenberg, who cochairs the high yield investment strategy at oaktree. david, thank you so much for being here. david: thank you for having me. lisa: is this as good as things get? david: the beauty of credit is you are getting contractual return. for me it's about the yield i'm going to earn and will i earn it right now? if you can get around 8%, that's pretty attractive, so we are in a good place for it. lisa: as a student of howard marks, i have always read memos about the pendulu

in 2018, we brought oaktree into our fold, and we have a partnership with the management there.hat's been transformative to our credit business. and we're always looking for things like that to continue to build the business and just grow over time. and -- but if not, we just keep plugging away every day. francine: so this is more partnerships than outright acquisitions, like altera. i mean, this is a different kind of carbon fund. bruce: our transition business, we started -- we split off from our main infrastructure business 4.5, four or five years ago. we raised a large first time fund. we just did the first close of our second fund for $10 billion. and then we started an emerging markets business. so i would say that is just a split off. this is just -- all we are trying to do is we informed ourself about transition, we built a team over a long period of time. now our -- some people said to us, can you solve emerging markets as opposed to just developed markets? francine: right. bruce: we didn't feel it appropriate to put the two in the same fund, so we are creating another

to take you to some of the developments out of asia where our colleague emily caught up with the oaktreeapital chairman howard marks on the global financial leaders summit. he gave his thoughts on the recent stimulus measures and asked about the changing interest rate environment. >> the stimulus announcement itself doesn't change my mind. i'm still optimistic on china's long-term possibility as long as they execute well and as long as they remain constructive with regard to the rest of the world. you know, they -- none of this is going to work unless they are an active, cooperative member of the world community as today's forum indicates the desire to do, but, you know, they have great resources and purposeful and organized. respectful of the role of the private sector. i think these are -- and they need growth to satisfy their ambitions, so they have to provide monetary and fiscal policy and remain a cooperative member of the world community. with that, i think the outlook can be good. >> now emily also asked the hkex ceo how big a risk donald trump's return to the white house could be

around 3.30, saturday morning, a large branch of an even larger oaktree broke free and smashed into the roof of this house along maple street in san mateo, the owner, heidi mccartney, was home at the time sleeping, but she didn't hear the crash. she was woken up by commotion outside her window. >> they were shining light. should my bedroom window. that's when i woke and i open joy and there were police and >> fortunately, no one was injured. and over the weekend, crews were able to remove the branch and the tree. but the damage to the roof was extensive. the falling branch also knocked out power to the house. the city red tag, the home as a precaution. and heidi is staying in apartment in the east bay for the time being on monday, an electrician was evaluating the house. he's hopeful that it can be repaired that heidi can return soon. she's lucky. no one regard say could be a whole lot worse, especially with the size of this tree. it says she's grateful to everyone who has helped her through this ordeal. >> relieved that no one was hurt. thing that i am grateful for >> is that nobody go

things didn't turn out a lot worse around 3.30, saturday morning, a large branch of an even larger oaktree broke free and smashed into the roof of this house along maple street in san mateo, the owner, heidi mccartney, was home at the time sleeping, but she didn't hear the crash. she was woken up by commotion outside her window. >> they were shining light. should my bedroom window. that's when i woke and i open joy and there were police and >> fortunately, no one was injured. and over the weekend, crews were able to remove the branch and the tree. but the damage to the roof was extensive. the falling branch also knocked out power to the house. the city red tag, the home as a precaution. and heidi is staying in apartment in the east bay for the time being on monday, an electrician was evaluating the house. he's hopeful that it can be repaired and that heidi can return she's lucky in a lot of regard say could be a whole lot worse, especially with the size of this tree. it says she's grateful to everyone who has helped her through this ordeal. >> and relieved that no one was hurt. thing that

and she's happy that no one got injured. 3.30, saturday morning, a large branch of an even larger oaktree broke free and smashed into the roof of this house along maple street in san mateo. >> the owner, heidi mccartney, was home at the time sleeping, but she didn't hear the crash. she was woken up by commotion outside her window. >> they were shining light. should my bedroom window. that's when i woke and i open joy and there were police and >> fortunately, no one was injured. and over the weekend, crews were able to remove the branch and the tree. but the damage to the roof was extensive. the falling branch also knocked out power to the house. the city red tag, the home as a precaution. and heidi is staying in apartment in the east bay for the time being electrician was evaluating the house. he's hopeful that it can be repaired and that heidi can return she's lucky in a lot of regard say could be a whole lot worse, especially with the size of this tree. it says she's grateful to everyone who has helped her through this ordeal. >> and relieved that no one was hurt. thing that i am gratef

things didn't turn out a lot worse around 3.30, saturday morning, a large branch of an even larger oaktree broke free and smashed into the roof of this house along maple street in san mateo, the owner, heidi mccartney, was home at the time sleeping, but she didn't hear the crash. she was woken up by commotion outside her window. >> they were shining light. should my bedroom window. that's when i woke and i open joy and there were police >> fortunately, no one was injured. and over the weekend, crews were able to remove the branch and the tree. but the damage to the roof was extensive. the falling branch also knocked out power to the house. the city red tag, the home as a precaution. and heidi is staying in apartment in the east bay for the time being on monday, an electrician was evaluating the house. he's hopeful that it can be repaired and that heidi can return soon. she's lucky in a lot of regard say could be a whole lot worse, especially with the size of this tree. it says she's grateful to everyone who has helped her through this ordeal. >> and relieved that no one was hurt. thing tha