All Credit articles – Page 20
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White papersCLOs: What’s Driving the Opportunity Today?
Co-Heads of Structured Credit, Melissa Ricco and Taryn Leonard provide insight into last year’s ‘rollercoaster ride’ in CLOs, and explain why both fundamental and technical factors appear to be aligning to create a strong backdrop for the asset class moving forward.
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White papersSDG Engagement High Yield Credit Annual 2020 Report
Seeking twin objectives of strong financial performance and positive social and environmental impacts that contribute to achieving the 17 Sustainable Development Goals (SDGs), we launched SDG Engagement High Yield Credit in October 2019.
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White papersStrategies for Navigating an Unrecognisable Bond Market
As the saying goes, there’s no rest for the weary, and many bond investors understand that feeling right now.
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White papersThree Strategies for Navigating Turbulent Bond Markets
Today’s market environment taps into bond investors’ primal fears. Extremely low yields make it tough to find sufficient income and potential return. Economic growth is rebounding from its 2020 collapse, but the world’s grip on recovery is uncertain.
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White papersEuropean credit outlook 2021: a world of uncertainty
European credit markets appear to have stabilised, as investors increasingly price in a perfect economic recovery alongside continuing monetary and fiscal support.
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White papersQ2 2021 Investment View - Some like it hot
On the ground it does not feel like it just yet, as Europe battles with a third wave of infections, but markets are fast proceeding to the Covid crisis exit door. Too fast? We do not think so and see room for further rotation.
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White papersSpotlight on credit: Reflation - The end of inflation’s “great moderation”?
Credit markets may face challenges if reflationary policies stimulate a concerted return for inflation.
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White papersPrivate credit markets – optimism grows, but caution is warranted
Activity levels in many private credit markets have unsurprisingly picked up over recent quarters as public markets bounced back, adding to the robust and growing pipeline of opportunities we are seeing across the breadth of the asset universe.
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White papersNet Zero through investments: A pilot for intermediary target setting
Decarbonization of credit portfolios could play a major part in helping investors to support the goals of the Paris Agreement on climate change.
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White papersDiversification through factor-based investing in corporate bonds
Allocations to factor-based strategies in corporate bonds have grown, with an expanding body of research demonstrating its advantages.
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White papersRates Markets Are Normalizing
It is far too early for taper talk, in our view, but the bias of risk is still toward higher rates to come.
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White papersEuropean insurers: the case for going global in the credit allocation
In the hunt for yield, some years ago European investors started to allocate part of their credit exposure to dollar assets. However, many then put a stop to this diversification due to high hedging costs. In the context of the Covid-19 outbreak, the Fed cut rates to post-Lehman lows. Consequently, euro and dollar interest rates converged significantly, reducing hedging costs and making a case for broadening the investment universe from a European to a global base more attractive.
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Asset Manager NewsNon-IG News: Earnings Trends in Non-IG Credit
During the early stages of the pandemic, most market participants and company managements were very concerned about the impact from mandated shutdowns and shelter-in-place orders on company revenues and bottom-line results.
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White papersCIO EMEA Outlook 2021: Knowns And Unknowns After A Tumultuous Year
At the beginning of the year we were threatened with excitement, be that trade wars or ongoing political upheaval in the Europe and the US. None of us were prepared for a global pandemic.
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White papersChina Credits: Default Outlook From an Onshore Perspective
Changing government policy could impact default levels in 2021.
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White papersPortfolio allocation in times of uncertainty
The temptation to react to every headline, every market move is often irresistible. Never more so than in an environment that screams uncertainty. But experience shows that successful investors have learned to stick to their strategies, regardless of bright, shiny objects that threaten to distract.
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White papersReplay Webinar | Investing in credit 26 11 2020
Credit is set to play a significantly bigger role in the future of returns. Central banks’ support will continue to provide stability to the sector but companies’ fundamental are deteriorating and defaults are rising, how to set the scene in the current covid - disrupted credit environment? During this insightful debate, our boutiques’ experts analysed the credit space under various angles:
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White papersHigh Demand, Tight Supply: Private Debt Post-Coronavirus
We think private debt fared well relative to publicly traded credit during the coronavirus volatility, but will really differentiate itself in the years following the crisis.
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White papers“European defaults likely to stay low” and what it means for High Yield and crossover markets.
Correlations between defaults and macroeconomic variables suggest European defaults may rise, however, monetary and fiscal support are set to contain the impact. In this scenario, we deem the rating migration risk now more serious for Investment Grade and BBB in particular, hence – within the crossover space – we think investment opportunities can be found in fallen Angels
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White papersNon-IG News: Record High Yield New Issuance in a Pandemic?
Despite the COVID-19 pandemic and a significant contraction in global GDP, the U.S. High Yield Market saw record levels of new issuance in the second and third quarter, which was a surprising development to most investors.
