All Credit articles – Page 27
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Technology and ‘mega-trends’ to drive US equity performance
US equities have outperformed global equities since the beginning of the recovery because the US economy was initially the sole engine of global growth, as European countries wrestled with the Eurozone crisis.
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Asia’s new era of sustainable growth
The huge Chinese economy is experiencing a ‘second awakening’ under President Xi Jinping, with a strong agenda for supply-side reforms and an emphasis on sustainable macroeconomic growth.
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Commodities hitch a ride on global growth
Highly favourable tailwinds give us confidence that commodity prices will push significantly higher in 2018.
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The UK’s demise is overstated
UK equities reached all-time highs in 2017, but relative to world stocks (in US dollar terms) they were laggards.
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Japan: three reasons for a positive outlook
In recent weeks we further raised our allocations to Japanese stocks, with near-term catalysts.
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Cross Asset Investment Strategy: January 2018
Investors have enjoyed a quiet year in 2017, with few bumpier spots, overall record-low volatility and nice returns. Moving into 2018, the temptation for risk assets is still high.
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The FED and tax reform: what's next for fixed income investors?
Fed: The FOMC decided to raise the fed funds target range for the third time this year to 1.25-1.50%.
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2018 Economic and Market Outlook: Risk On
Investors will have to work harder, take more risk and get an information edge. Nuveen identifies pockets of opportunity across public and private markets.
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Credit Continuum: How to make it happen
The Credit Continuum solution, while being a Buy & Watch solution, offers a high flexibility in terms of calibration of the key investment parameters and set of market segments.
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Floaters in Alternative Credit will help keep portfolios buoyant
The future is looking less certain for investors, also in fixed income. After a bull run lasting more than three decades, the prospect of western economies winding down quantitative easing and normalising their monetary policies creates the prospect of a more challenging, rising rate environment.
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Bond Connect opens access to China’s debt markets
Bond Connect is the latest manifestation of China’s gradual opening up of its capital markets to international investors. The pilot scheme, launched by China and Hong Kong in July, gives foreign institutional fund managers a new route to China’s RMB69 trillion ($10 trillion) interbank bond market (CIBM).
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10 reasons to invest in Asia bonds
Asia’s fixed income markets are now a key part of diversified, international bond portfolios. Issuance volumes continue to rise to record levels, there is a wide range of issuer-type, yield and tenor, and the pool of regional liquidity is growing.
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Opportunities in...Asian fixed income
The Asian fixed income market is often at a different part of the economic, political and credit cycle to core western markets – this can include economic growth that surpasses most other regions. In an investment world that often seems devoid of income without excess risk, Asian fixed income can offer a compelling proposition in both a relative and absolute sense.
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Opportunities in...European Corporate Bonds
Why European investment grade corporate bonds? At a time when attention is increasingly focused on a gradual reduction in US and European monetary stimulus, the European investment grade corporate bond market presents investors with an increasingly broad investment opportunity set focused on the rapidly evolving European market.
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In Credit: Abenomics 2.0
It was a mixed week for core government bonds with yields rising in Europe and the US, but falling in the UK and largely unchanged in Japan where Shinzo Abe won a large majority in last weekend’s general election. This victory leaves the road clear for more ultra-easy monetary policy in an economy that is growing but has so far failed to produce much in the way of inflation (Nationwide core CPI = 0.0% y/y).
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In Credit: The calm after the storms?
Core bond yields were flat in Japan, a touch wider in the UK and lower in the US and Europe last week. The International Monetary Fund raised its global GDP forecast marginally to 3.6% for 2017 ( 0.1%) and 3.7% for 2018, driven largely by an improved outlook in the US, Europe, Japan and China.
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Seeking sustainable income in a low rate environment
“Today income investors should explore opportunities across a broader range of asset classes in an effort to avoid the low yield trap”
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In Credit: Corporate bond spreads tighten to post GFC lows
It was a fairly astonishing week in terms of news, though core bond markets were not much moved after the sell-off of recent weeks. Firstly in Europe, the ever-present issue of political cohesion was on the agenda again.
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What higher bond yields may mean for corporate bond valuations
Both US and European credit markets have delivered a fairly positive yearto- date performance; supported by falling political risk, excess returns versus underlying government bonds proved to be particularly strong for EUR corporate bonds in the second quarter.
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The Evolution of Private Credit
Investors in traditional types of liquid income strategies are increasingly concerned about expensive valuations, low income, rising interest rates and signs that the credit cycle has entered its late stages. Many institutional investors have taken the view that private credit offers some degree of insulation against these dynamics. To date, institutional investors have typically implemented this view by allocating to “middle market” lending strategies within growth or liability matching portfolios.