Content (111)

  • Dodging The Industry Potholes Across EM High Yield Corporates

    White papers

    Dodging The Industry Potholes Across EM High Yield Corporates

    2021-03-29T11:11:00Z

    The rally in risk markets emphasizes the importance of identifying relative-value opportunities across global asset classes. Emerging market high yield bonds may increasingly draw investors’ interest given a spread pickup relative to their U.S. and European counterparts. 

  • Three Focal Points For The U.S.- China Relationship

    White papers

    Three Focal Points For The U.S.- China Relationship

    2021-03-29T11:02:00Z

    The recent U.S.-China summit kicked off with U.S.-China relations at a low point. The ongoing shift in U.S. policy towards China—hastened under the Trump administration with the support of both political parties—was long in the making and effectively ended the U.S. doctrine of strategic engagement that facilitated China’s global rise during the preceding four decades.

  • Powell Riding Herd Calms (At Least Some Of) The Markets

    White papers

    Powell Riding Herd Calms (At Least Some Of) The Markets

    2021-03-18T11:19:00Z

    After a slowdown in growth late last year amidst rising virus counts, economic activity appears to be reaccelerating alongside a pickup in the pace of vaccinations and over $4 trillion of fiscal support to date piled on top. 

  • A Five-Part Framework For ESG Disclosures In Global Leveraged Finance

    White papers

    A Five-Part Framework For ESG Disclosures In Global Leveraged Finance

    2021-03-11T15:42:00Z

    ESG effects on credit fundamentals make disclosures an inherent investment requirement.

  • Electric Vehicle Acceptance - Beyond Eco Warriors And Early Adopters

    White papers

    Electric Vehicle Acceptance: Beyond Eco Warriors And Early Adopters

    2021-03-05T15:56:00Z

    The growing share of battery electric vehicle (BEV) sales shows an acceptance beyond eco warriors and early adopters with a gas-guzzling SUV hidden in the garage. Global BEV sales hit 2 million in 2020 with total share reaching 3.1%, primarily driven by a share of nearly 5% in Europe (Figure 1) where tight new regulations and generous incentives are accelerating consumer acceptance. However, the looming sunset of these subsidies also shapes our credit preferences within the sector.  

  • When Will the Jobs Come Back?

    White papers

    When Will the Jobs Come Back?

    2021-03-01T11:34:00Z

    With the U.S. economy still down nearly 10 million jobs from its pre-pandemic level and history showing that the labor force participation rate could continue to decline at the end of a recession, PGIM Fixed Income seeks to answer the question “When Will the Jobs Come Back?

  • US Leveraged Loans - From Trepidation to Potential Reflation

    White papers

    US Leveraged Loans: From Trepidation to Potential Reflation

    2021-02-18T11:24:00Z

    As investors consider the pending transition from virus-related trepidation to a potential reflation scenario, U.S. leveraged loans are frequently re-emerging in allocation discussions. 

  • Wealth Inequality - Seeking Ways to Lift More Boats

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    Wealth Inequality: Seeking Ways to Lift More Boats

    2021-02-11T15:08:00Z

    Since 1990, the wealth share of the top 1% of households in the U.S. has risen from 23% to 31%. In parallel, the share of the bottom 90% has sunk from 40% to just 31%. Thus, the top 1% holds as much wealth as the lower 90% combined.

  • China Helps Germany – and the EU – Through the Winter of the Second Wave

    White papers

    China Helps Germany – and the EU – Through the Winter of the Second Wave

    2021-02-10T11:10:00Z

    Earlier this year we looked at the myriad implications for the EU, and particularly for Germany, of the recently agreed investment deal with China. Much to the chagrin of the U.S., the Comprehensive Agreement on Investment (CAI) strengthens the ties between the world’s second and third largest economies. 

  • Telecom’s 5G Food Fight

    White papers

    Telecom’s 5G Food Fight

    2021-02-03T11:19:00Z

    Intense competition in the wireless industry is nothing new, but promotional activity took a leg up with the launch of Apple’s latest 5G capable iPhone line-up in late 2020. Given the extension in handset replacement cycles to approximately three years, major wireless carriers have been engaged in a “food fight” for 5G market share. 

  • COVID Recovery Brings Differential Opportunities in Latin America

    White papers

    COVID Recovery Brings Differential Opportunities in Latin America

    2021-01-14T10:59:00Z

    The COVID-19 outbreak struck Latin America when it was already sitting at an unfavorable juncture that was years in the making. The end of the commodity price super-cycle nearly a decade ago left the region with lackluster growth dynamics—compared to Latin America’s past performance (Figure 1) and to other regions in the emerging market complex (Figure 2)—and an enduring need to correct macroeconomic imbalances (Figure 3).

  • Five Factors Supporting An Allocation To European High Yield

    White papers

    Five Factors Supporting An Allocation To European High Yield

    2020-12-11T10:11:00Z

    In a region inundated with negative-yielding government debt and an uncertain growth outlook, European investors face the challenge of generating positive real returns in the coming years. Yet, that backdrop is suited to the following factors within the European high yield market: