All Credit articles – Page 14
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White papersAsian credit outlook: a bright spot in 2023
After 2022 marked one of the worst years on record for fixed income, Asia is expected to be the world’s bright spot in 2023. We believe Asian credit reached a bottom in early November 2022 and is now on the ascendent due to China pivoting away from its zero-Covid policy and back towards a pro-growth stance, as well as the emergence of clear US disinflationary trends.
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White papersEmerging-Market Debt Outlook 2023: A Shifting Balance of Risks
Financial markets offered few opportunities for refuge in 2022, and emerging-market bonds were no exception. We expect the past year’s difficult conditions to gradually unwind in 2023, but risks remain, and investors will need to be selective.
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White papersThe time is now: Creditors to negotiate stronger covenants in 2023
The current credit environment offers a silver lining for investors in challenging markets, as issuers look to amend and extend debt amid rising rates.
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White papersEuropean Fixed-Income Outlook: Stay High Quality in 2023
European bond-market performance was among the worst on record in 2022, as Europe ran the gamut of geopolitical, economic and market storms. While problems persist and we expect further periods of volatility, we believe the worst impact on markets is past and that investors will find opportunities in 2023—particularly in investment-grade and select high-yield credit.
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White papersBBBs in the ‘Old Normal’
A key investment-grade sector retains its appeal, but selectivity may be important.
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White papersClimate Change High Yield Credit Annual Report, 2022
Launched in September 2021, the Federated Hermes Climate Change High Yield strategy aims to outperform the global high yield market by investing with conviction in companies that have strong fundamentals and which demonstrate the potential to decarbonise and transition to a low-carbon world.
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White papersHas China broken the ‘doom-loop’? An Asia credit perspective
The confluence of disinflationary trends taking hold in the US, and a decisive turn in Chinese policy, has broken the doom-loop for Chinese assets and Asian credit which has plagued markets since the third quarter of 2021.
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White papersChina stocks rally on property support and Biden-Xi meeting
Investor appetite for shares and bonds has recovered following news Beijing is ramping up support for the real estate sector.
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White papersLooking ahead: U.S private credit in an age of scarcity
For over a decade, including through COVID-19, the tide of capital has flowed mostly in one direction: into markets. That’s because since the Great Recession of 2008, the U.S. Federal Reserve has kept interest rates low. Public credit, both loans and bonds, benefited from this support. But as we look ahead to 2023, it is important to shift our gaze and examine the impact of rate hikes and quantitative tightening on capital markets and private credit.
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White papersCross Asset Investment Strategy - December 2022
We believe the Fed would keep rates in restrictive territory in the near term. This, coupled with concerns over earnings, allows us to stay cautious on risk assets but with select opportunities in US equities, businesses with strong balance sheets, and quality, value and dividend oriented stocks.
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White papersHow is private credit positioned to circumnavigate the challenges ahead?
In the current inflationary, rising rate environment, private credit may be well-placed to help steer through the various challenges ahead due to its largely floating-rate nature, as well as other attractive structural features.
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PodcastFrom Distressed Debt to Capital Solutions: An Evolving Landscape
As the global economy has slowed, investor interest in distressed debt strategies has risen. But the distressed market isn’t what it used to be.
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White papersCredit markets? They’re too cheap to ignore
The market environment this year has proven tricky to navigate, but today’s credit market offers a compelling entry point into global credit for investors focused on long-term, fundamentally driven analysis.
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White papersThe 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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PodcastThe Investment Podcast: The case for adding to risk in credit markets
Credit markets have been front and centre stage as the events of 2022 unfolded.
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White papersHow Life Insurers Account for Realized Losses May Cause Unnecessary Pain
An accounting method long used by life insurers has come under pressure amid rising rates and wider credit spreads, potentially setting the life insurance industry up for large unrealized losses. But there may be a solution.
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White papersEarnings era: future performance in private equity
Slowing economic activity together with higher inflation and rising interest rates has shaken global equity markets. As with prior market inflection points, asset owners are taking a close look at current portfolio allocations.
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White papersReaching for net zero across asset classes
LGIM is committed to achieving net-zero greenhouse gas emissions by 2050 across all assets under management. Here’s how we’re targeting this goal within different investment capabilities.
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