All Corporate Bonds articles – Page 4
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White papersSwiss bonds: out of the comfort zone
When it comes to asset allocation, many investors rely on passive and low-cost building blocks, justifying this with the cliche that active approaches do not fulfill their promise anyway and have exorbitant fees.
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White papersWhat does 2024 hold for markets?
It is time to look ahead to 2024. This year has been marked by expectations of recession in the developed world and of China re-opening to positive effect. Both have proved to be the wrong horses to bet on. In this weekly edition of Simply put, we analyse the likely shape of next year and evaluate which asset classes stand to benefit.
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White papersTracking the Transition from Tighter Policy to Corporate Spreads
We explore the historical transmission from tighter monetary policy to corporate bond spreads and the respective investment implications under our “weakflation” scenario.
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White papersThe Balance Between Corporate Profit Margins and Economic Resilience
This blog shares our views on the relationship between corporate margins and different U.S. economic growth scenarios using our corporate profit model to estimate performance.
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White papersHigher for longer: 2024 Outlook
As ever, central bank policy has the power to make or break markets.
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White papersThe overlooked appeal of short-dated euro corporate debt
Corporate balance sheets continue to provide support for opportunities in the front-end of the credit curve in the eurozone.
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White papersCooling high-carbon sectors with corporate bonds
Investing in companies that are already low-carbon today does nothing to lower emissions in the future. That’s why we invest in transitioning companies with credible plans to decarbonise. How do we assess companies for their climate alignment to see if they make the cut for our TargetNetZero credit strategy?
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White papersWhatever happened to the recession - and does it matter for bonds?
Despite interest rates being hiked to their highest level since the mid-2000s and a mini crisis in the US banking sector, the US and other developed market economies remain in relatively robust health. A recession has, so far, been avoided.
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White papersIdentifying ‘rising stars’ amid a darkening fundamental outlook
Despite the uncertainty facing corporate credit investors, several bright spots remain. So-called ‘rising stars’ – where credit quality and ratings are transitioning from high yield to investment grade – are undoubtedly viewed as such, and at this stage of the cycle, this is an area of the fixed income spectrum which could provide an important source of alpha for investors.
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White papersCan investment-grade credit provide resilience amid uncertainty
An uncertain economic outlook and high interest rates are generally not viewed as a positive backdrop for investment-grade (IG) corporate bonds (rated BBB/Baa and above). Yet, a confluence of supportive factors is underpinning this asset class. These include relatively good credit quality, high average starting yields above 5.5%, an overall duration of about seven years and stabilisation of the banking sector.
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White papersThe Fed’s Higher-for-Longer Mantra is OK for Bonds
The Federal Reserve indicated that policy rates will likely remain elevated for some time and that neutral policy may indeed be higher than previously projected at its September 20, 2023 meeting.
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White papersPeter Harrison: The City needs to embrace risk
Proposals to overhaul listings rules are a step in the right direction but much more work needs to be done.
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White papersEuro-denominated short duration – only upside from here?
The ECB is at or near the end of its historic monetary tightening cycle. From this point, we believe investors in euro-denominated short duration debt may well stand to benefit – whatever happens next.
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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 papersIncome Generator: Back in Bonds
Bonds are once again becoming a cornerstone allocation within portfolios. We explain five actions bond investors could consider to capitalize on current trends we’ve identified.
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White papersFrom Low Ranger to High Plains Drifter
With the vast majority of rate hikes behind us, market volatility is set to fall. A tailwind from the reemergence of the “search for yield” is likely to follow.
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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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Asset Manager NewsIvanhoé Cambridge successfully issues its first sustainability bond, for C$300 million
As part of its sustainable finance program, Ivanhoé Cambridge announces the successful issuance of its first sustainability bond, rated AA (low) by DBRS1, in an amount of C$300 million.
