Content (118)

  • How democracy is impacting economic policy and investment outcomes

    White papers

    How democracy is impacting economic policy and investment outcomes

    2020-12-07T17:01:00Z

    Economic policy has an empirically documented relationship to asset prices. For example, sovereign bonds of economically “free” countries typically have higher credit ratings and much tighter yield spreads than those of countries where economic policy is much less liberal. It follows then that an investor who can correctly assess whether a country is becoming more/less economically free can – all else equal – potentially make money for their clients. Since markets appear to appropriately discount current economic policy conditions, the challenge for professional investors is to understand and accurately forecast the likely direction of policy change.

  • After election and vaccine news, loan rally caps a remarkable 2020 rebound

    White papers

    After election and vaccine news, loan rally caps a remarkable 2020 rebound

    2020-12-02T12:45:00Z

    The likely prospect of a divided government, combined with the announcement of a COVID-19 vaccine, propelled all risk asset sectors sharply higher, including floating-rate loans

  • The CLO investment opportunity

    White papers

    The CLO investment opportunity

    2020-12-02T12:35:00Z

    Collateralised loan obligations (CLO) have gained increased attention in the press and from allocators in recent years, but remain poorly understood, as misperceptions surrounding CLO risk persist. 

  • The new COVID-19 landscape - Country selection is key for EM debt

    White papers

    The new COVID-19 landscape: Country selection is key for EM debt

    2020-11-18T12:16:00Z

    COVID-19 has changed the landscape for emerging markets (EM) debt, injecting a new dimension of pandemic-related economic uncertainty.

  • Democracy’s dichotomous role in economic policy changes and investment outcomes

    White papers

    Democracy’s dichotomous role in economic policy changes and investment outcomes

    2020-10-06T11:39:00Z

    This research paper, picking up on the empirically documented relationship between economic policy and asset prices, seeks to identify key determinants of economic policy change.

  • Multi-Asset Credit strategy four-year anniversary highlights

    White papers

    Multi-Asset Credit strategy four-year anniversary highlights

    2020-09-17T11:32:00Z

    The four-year period since inception (1 July 2016 to 30 June 2020) has seen the Eaton Vance Multi-Asset Credit Strategy consistently delivering excess returns relative to its blended index benchmark (1% annualised excess return for full period). Relative to Libor, the strategy has also delivered positively (annualised excess return of 3.6%). Ongoing success stems from both asset allocation and security selection decisions, in tandem with successful downside risk management. 

  • Global High Yield Strategy five-year anniversary highlights

    White papers

    Global High Yield Strategy five-year anniversary highlights

    2020-09-17T11:23:00Z

    The five-year period since inception (1 July 2015 to 30 June 2020) has seen the Eaton Vance Global High Yield Strategy deliver excess returns relative to its index benchmark (almost 1% annualised excess return) with less volatility than the index (7.35 versus 7.87). 

  • Facing hard truths - How a pandemic brought inequality into the board room

    White papers

    Facing hard truths: How a pandemic brought inequality into the board room

    2020-08-28T08:18:00Z

    Calvert has long considered inequality to be an important thread in the overall fabric of responsible investing, embedded in the middle term of ESG — environmental, social and governance factors that influence corporate performance. 

  • Softening high-yield fundamentals signal caution following Q2 rebound

    White papers

    Softening high-yield fundamentals signal caution following Q2 rebound

    2020-08-28T08:14:00Z

    In this Q&A, the Eaton Vance high-yield team offers its perspectives on the rebound in high-yield corporate bonds in Q2, the role of the Fed and what’s ahead for the high-yield market.

  • Conviction edges up for emerging-market credit

    White papers

    Conviction edges up for emerging-market credit

    2020-08-13T08:57:00Z

    Emerging-market (EM) debt rebounded strongly in the second quarter across hard currency sovereign and corporate credit as well as local-currency debt. 

  • Distilling stock-level alpha in global small-cap equities

    White papers

    Distilling stock-level alpha in global small-cap equities

    2020-07-29T08:53:00Z

    In recent years, investors have shown a greater interest in the global small-cap equity sector as part of their search for broader sources of return and diversification. Many are attracted to the sector’s oft-touted potential for generating higher returns. Increasingly, the diversification benefits that an allocation to the sector can deliver have also become an important consideration.

  • Fed's recent efforts have buoyed the high yield market

    White papers

    Fed’s recent efforts have buoyed the high yield market

    2020-07-01T13:14:00Z

    Over the course of a 10-week rally post crisis, we saw the high yield spread over Treasurys tighten into the mid-500s before widening modestly in the second week of June to 632 basis points. By June 19, spreads tightened into 606 and the average yield-to-worst ended at 6.45%.