Convertibles are hybrid securities combining features of both bonds and equities with the capability to give investors access to “best of both worlds”. In today’s volatile equity markets and low interest rate environment, they are particularly interesting.
How have convertible bonds fared in 2015?
2015 equity markets got off to a very strong start, particularly in Europe, and convertible prices quickly benefited. But from April onwards, events like the Greek crisis, strong tensions in China and persistent worries over a rate hike in the US started to trouble international bond and equity markets.
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