All Corporate Bonds articles – Page 6
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What is a CLO?
CLOs provide an efficient, scalable way of investing in floating-rate loans while offering structural protection that has historically performed well through multiple credit cycles.
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Fixed Income Perspectives January 2023
Global growth is expected to weaken as central banks remain restrictive, though many economies have shown more resilience than previously expected Inflation should continue to lose steam in 2023, although it may remain uncomfortably high relative to central bank targets Higher yields and relative value opportunities offer better return ...
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There IS an Alternative: Fixed Income Road Map - 2023
Bonds yields in many sectors rose in 2022. Finally, for investors who’d needed to seek income outside of fixed income markets, There Is an Alternative. Allspring fixed income leaders identify potential opportunities.
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European interest rates: Increased dispersion presents opportunities
Global investment-grade corporates staged a strong rally in the fourth quarter of 2022, ending three quarters of negative returns.
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Macro Insights: Outlook for bonds brighter even as growth concerns linger
Markets rebounded in the fourth quarter of 2022, closing a year marked by high volatility as the US Federal Reserve (Fed) reset its monetary policy path.
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The Market Effect of Acute Biodiversity Risk: the Case of Brazilian Corporate Bonds
Biodiversity is part of the Earth’s natural capital and considered the cornerstone of a well-functioning planet. The many benefits to humans provided by natural capital are often integral to the provision of clean drinking water, waste decomposition and food productivity as well as being critical for human health ...
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IG Credit: Well-positioned in a Challenging Environment
In a potential recessionary environment, robust company balance sheets and normalizing yield levels are creating a compelling case for IG corporate credit.
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Blog
Yield is Destiny; Bonds are Back
Bond investors shouldn’t lose sight of the fact 2022’s historic increase in bond yields could lead to bond returns in the next decade that are two to three times higher than the prior decade.
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The Market Effect of Acute Biodiversity Risk: the Case of Corporate Bonds
In this paper, we investigate the relationship between biodiversity and companies, through the lens of corporate bonds. We focus on acute biodiversity events and address biodiversity as a risk, considering its looming losses.
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CIO views: adapting to a new rates regime in 2023
If 2022 was a year of regime change for investors, what comes next in 2023? A new rates reality is taking shape, with implications for everything from company earnings to debt serviceability to correlations between asset classes. Our CIOs consider the transition to higher rates as a key driver for their outlook next year.
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The corporate bond is back
We believe that corporate bond yields are close to an inflection point, with the high levels of yields achievable providing a buffer to further yield rises. In short – the corporate bond is back.
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How the ECB’s climate tilt favours ice cubes
The European Central Bank is gradually decarbonising its corporate bond holdings in a move that will be beneficial to borrowers with clear net-zero targets. We expect increased spread differentiation between transition leaders and transition laggards, and consider how the design of our TargetNetZero strategy is well-positioned to capture the opportunities.
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Multi-Asset Allocation Views: Finding alternatives in bonds
In this Allocation Views, our Franklin Templeton Investment Solutions team remove their allocation preference for equities and discuss the attraction of government and corporate bonds.
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Emerging Market Green Bonds - Report 2021
Significant investment is required to build resilient economies capable of addressing the current climate and environmental challenges. This need is particularly crucial in emerging market and developing economies (EMDEs), which are relatively more vulnerable to the impacts of climate change. More broadly, large-scale investment estimated to be as high as US$4.5 trillion per year in EMDEs is required to achieve the United Nations Sustainable Development Goals (UN SDGs). -
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Cross Asset Investment Strategy - June 2022
The repricing of a more aggressive Fed stance has been brutal as the 10Y UST yield temporarily reached the 3% threshold, falling close to 2.75% recently on economic growth concerns. We think investors should move towards neutrality on duration in the US and Europe, whereas in credit, they should focus on quality and stay cautious on higher-risk segments in Europe.
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ECB strikes a somewhat dovish tone, despite inflation remaining top priority
After the hawkish surprises of previous meetings, no further acceleration of stimulus withdrawal has been hinted at in April. The ECB fully confirmed both its previous guidance on QE, which is set to end “some point in time” in Q3, and policy sequence, with interest rates to rise possibly, but not necessarily, after QE ends.
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EM Corporate Bonds in 2022: How to Find Truffles in the Mud
Tighter monetary conditions have raised bond yields around the world since the start of the year. Ten-year US Treasury yields rose 80 basis points (bps) in the first quarter, global investment-grade yields 83 bps, and yields on high-yield bonds rose 136 bps.
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CLOs Well-Positioned Amid Rising Rates, Heightened Uncertainty
In the context of a thin new issue pipeline, secondary market CLOs look more interesting, on balance, relative to new issues.
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As the Fed moves into action, bond portfolios need agility
In a world of rapidly escalating prices, Russia’s invasion of Ukraine has exacerbated inflationary pressures. We have seen a direct impact on energy and a broad swath of agricultural commodities, and are likely to see a broadening of price pressures.
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Floating to safety with senior AAA European asset-backed securities
Rising inflation and interest rates are eroding the value of cash and putting pressure on government and corporate bond yields. We believe investors can help towards protecting their portfolios by reallocating some of their cash holdings to potentially higher-yielding, defensive floating rate securities. Senior AAA European asset-backed securities (ABS) offer a sizeable yield premium for those willing to hold these positions for 6-12 months or longer.