All Corporate Bonds articles – Page 10
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White papersWhy ABS could be an attractive option for European insurers
A fundamental shift in the UK defined benefit (DB) pension market, sparked in September 2022 by the government’s ‘mini budget’, opened the doors to potential opportunities across the balance sheet for insurance companies. Here we explore how European insurers may be in a position to take advantage of the compelling risk adjusted returns on offer in the European ABS market.
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White papersUnder Pressure? High Yield Can Hold Up (Your Income Portfolio)
Do high-yield bonds still make sense for income investors at this stage of the credit cycle? We think so.
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White papersMacroeconomic and financial market forecasts - July/August 2023
Macroeconomic forecasts as of 17 July 2023
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White papersGlobal Corporates: Investment-grade corporates offer attractive yields and abundant liquidity
The second quarter of 2023 saw some calm return to financial markets following the eventful start to the year caused by the problems in the banking sector. A key theme for markets during the quarter was the resolution of US debt-ceiling negotiations, although other risks remain, including the potential impact of interest rates being higher for longer, concerns over the health of the commercial real estate sector and fears of a global recession.
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White papersOn the Curve Carries On: Investing in Intermediate Corporate Fixed Income
Last year we highlighted the relative attractiveness of the intermediate part of the corporate curve. And a year later, we believe we continue to see value in the intermediate corporate credit space. In this paper, we highlight the potential opportunities for investors amidst the current valuations in high grade fixed income strategies across the curve.
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White papersHigh Yield: Reasons for Cautious Optimism
As investors braced for higher rates and an impending recession, second-quarter markets performed with surprising resilience. Together with a higher-quality market and attractive yields, the case for high yield looks compelling.
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White papersMid-year outlook 2023: macroeconomic and financial market forecasts
Macroeconomic forecasts as of 13 June 2023
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White papersPutting the ‘investment’ in investment grade credit
Investment grade bonds have historically provided a resilient and reliable option during volatile and uncertain market conditions. After last year’s sweeping sell-off, the global investment grade universe now offers an array of opportunities in quality issuers, allowing for effective diversification and the potential for attractive returns.
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White papersPrivate Placement Debt is an All-Weather Investment Strategy
The unique characteristics of private placement debt help position the asset class to perform well despite the potential for an economic slowdown or recession. Private placement debt is predominantly investment grade, comes with structural protections, and offers the potential for incremental income.
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White papersMarkets rally despite bank scare: Q1 roundup
Global stocks rose as investors welcomed signs from central bank officials in the U.S. and Europe that interest rates may not rise as much as previously expected. Lower inflation levels, combined with a crisis in the banking sector, prompted central bankers to consider adjusting monetary policy in the months ahead, leaving investors to speculate that there may be no additional rate increases this year.
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PodcastPutting Today’s Fixed Income Markets in Context
Global Head of Public Markets, Martin Horne discusses the current opportunities and risks in public fixed income markets and compares today’s macro backdrop with those faced in prior economic slowdowns.
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White papersFixed Income: the road ahead
Recent crises within US regional banks and the more idiosyn- cratic case of Credit Suisse have various underlying causes. However, the overall context of these issues is undoubtedly the sudden and significant tightening of financial conditions in the past year.
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White papersEM Debt: Opportunities in a Riskier World
Emerging market fundamentals remain strong and continue to provide opportunities despite risks in developed markets that raise cautionary flags.
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White papersA Solid Case for IG Credit, But Caution is Required
Against a backdrop of elevated uncertainty, IG corporate credit—with healthy corporate balance sheets and a relatively attractive total return potential—looks well-positioned.
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White papersBanking woes take centre stage
We reflect on a tumultuous week in the banking sector as markets take stock of UBS’s bailout of Credit Suisse. Amid echoes of the past, our experts ask: is there more to come?
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White papersSystematic Fixed-Income Investing Comes of Age
Bond investors have been challenged by heightened volatility and big drawdowns in the aftermath of the pandemic. In response, investors are increasingly seeking systematic strategies, which can generate active returns while mitigating risk and charging competitive fees. In this paper, we explore the principles, processes and benefits of a systematic fixed-income strategy, an investment approach whose time has come.
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White papersFrom Anomaly to Opportunity: High Yields on Short Bonds
Stock and bond markets were shaken by the recent banking crisis in the US and Europe. Although both US and European authorities took prompt action to prevent damage to the financial system and dampen market volatility, these episodes highlight the importance of risk management and the worth of proven investment strategies that can both mitigate risk and generate worthwhile returns.
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White papers2023 U.S. investment grade credit supply: Will there be enough bonds to go around?
The U.S. investment grade credit (IG) market’s voracious appetite for bonds may not be fully satisfied in 2023. In 2022, feast or famine punctuated the $1.22 trillion supply, as nearly 50 days featured no issuance. Corporate borrowers glommed together and found strength in numbers when they issued debt, striking when the iron was hot.
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White papersMulti-sector fixed income 2023
2022 was a year for the record books in U.S. fixed income markets. The Bloomberg U.S. Aggregate Bond Index (“the Agg”) celebrates its 50th anniversary in 2023. In those 50 years, 2022’s calendar year total return of -13.01% was unprecedented. The prior record was 1994 (-2.92%); in fact, the cumulative total return of the previous four negative years (1994, 1999, 2013, and 2021) was only -7.30%
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White papers360° fixed income report Q1 2023: Inflation, disinflation, inflection
In the latest edition of our 360° report, the team reflect on what has been a promising start for fixed income in 2023. Can the rally sustain, has too much of the good news already been priced in, and what will shape the narrative over the course of this year?
