All Corporate Bonds articles
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White papersM&A Resurgence A Potential Risk To Investment Grade Fundamentals
Our recent assessment of the M&A effects on the U.S. high yield market found that it tends to be a positive catalyst for performance. However, we see more nuanced effects—including the risk of negative rating migrations—across the investment grade corporate market.
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White papers
Public/Private Investing: Fixed Income at a Crossroads
As the line between public and private debt markets appears to blur, the ability to draw on the full suite of fixed income asset classes can help investors navigate a wide range of market environments—through complementary sources of risk and return prospects, enhanced diversification and improved return potential.
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White papers
Navigating Lowest Yielding Bond Market
A dizzyingly expensive bond market places investors in a vexing dilemma: secure a higher yield by increasing credit risk or watch their capital eroding in low/negative yielding ‘safe-haven’ securities. We argue that a third and more efficient way exists to navigate the lowest yielding bond market in history.
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White papers
What does China’s regulatory crackdown mean for EM corporate debt?
Chinese corporates are experiencing growing pains as fines and restrictions rain down on sectors like tech, real estate and education.
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White papers
Allocation Views: An Uneasy Truce
In this Allocation Views, our Franklin Templeton Investment Solutions team explores the potential benefits of adding alternative assets to a balanced stock/bond portfolio.
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White papers
Factors in Quant Credit
A comprehensive understanding of the application of factors is crucial for investors in quant credit.
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White papers
IG Credit: Flexibility is Key
While uncertainty remains around rates and inflation, opportunities continue to emerge across IG credit, including in areas outside of traditional corporate bonds.
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White papers
Emerging Asian equities expected to perform best over the next five years
We expect emerging Asian equities to deliver among the best returns in global stock markets over the next half decade, especially in dollar terms (10.8 per cent per year on average, or double the global market). We calculate that their outperformance – which stems mainly from superior earnings growth and currency appreciation – could amount to 35 per cent on a cumulative basis over the US in that timeframe.
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White papers
EM Debt: Fundamentals Back to the Forefront
The EM growth picture remains positive, but with the Fed’s hawkish pivot toward quarter-end, sovereign and corporate debt look better positioned than local currencies.
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White papers
China’s bond defaults could be a blessing in disguise
Rising defaults in China show that Beijing meant business when it pledged to retreat from the distorting effects of its implicit guarantee policy and deleverage the system by allowing bad companies to exit. The daunting task is to avoid contagion. Can Beijing pull it off in an orderly fashion?
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White papers
China Calling: The Rise Of Chinese Bond Markets
Our fixed income experts review China’s market policy, economic reforms and forward-looking innovations. We examine sovereign bonds, commercial banks, currency and corporates, and offer views to help inform your decision making.
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White papers
ESG: Managing Climate Risk in EM Corporate Debt Portfolios
EM companies are making strides when it comes to capturing and disclosing climate risks, but there is work still to be done. Encouragingly, investors and managers are often able to go a few steps further to fill the gaps.
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White papers
The Case for Global High Yield: Why now? Why Indexing?
The attractive risk/reward characteristics of high yield bonds mean they continue to gain traction with investors. Their combination of higher yield and lower duration is a sought-after feature in the current low-yield environment.
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White papers
Finding Yield in Europe—and Beyond
Portugal, cyclical laggards, “rising stars,” roll-down returns, subordinated securities and hedged non-euro sovereigns—these are just some of the ways European investment grade investors could tackle the low and negative-yield challenge.
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White papers
Allocation Views: The Great Reopening Continues
With a focus on fixed income, our Franklin Templeton Investment Solutions team explore asset classes that are best positioned for growth as the global economy recovers from the pandemic.
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White papers
Infinity and beyond banks: the never-ending battle between old money and big tech
This month, Fiorino examines the tussle between banks and the increasingly belligerent Big Tech sector.
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White papers
Global corporate bonds Q&A with Damir Bettini: selectivity remains key
A year on from the height of the COVID-19 crisis, credit spreads have returned to their pre-pandemic tight levels. Does this present an asymmetric return profile for corporate bonds?
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Research Report
Stocks, Bonds, Bills, and Inflation® (SBBI®): 2021 Summary Edition
This Stocks, Bonds, Bills, and Inflation® (SBBI®): 2021 Summary Edition enables investors to understand how to calculate, interpret, and use the US historical stock and bond data that the CFA Institute Research Foundation has made available to CFA Institute members.
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White papers
A deep dive into ECB stimulus and its support for Euro fixed-income markets
March saw ECB increasing its PEPP purchases and injecting higher than expected liquidity through a successful TLTRO tender.
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White papers
Answers to Your Leveraged Loan Questions
Earlier this week, we had a chance to catch up with Jens Vanbrabant, senior portfolio manager and head of High Yield with the Credit Europe team at Wells Fargo Asset Management (WFAM).
