“All roads lead back to AI,” says Matt Eagan, head of the full discretion team at Loomis Sayles & Company, in a special post-midterm election episode of Credit Exchange with Lisa Lee. Eagan, who oversees an $87 billion portfolio of fixed income and is a member of the firm’s board of directors, discusses how a dramatic shift in the political landscape could affect markets, inflation, interest rates, AI investment, and fixed income.

Eagan takes a contrarian view on the potential political headwinds from the election. He believes AI infrastructure investment will continue because both political parties view AI leadership as strategically important.

Eagan also discusses why hyperscalers continue to dominate capital markets, and what investors should make of mounting debt issuance across the AI ecosystem. The conversation dives into Federal Reserve independence, fiscal policy, geopolitical risks, and the growing divide between AI ‘whales’ and ‘guppies’ competing for capital.