All Emerging Market Debt articles – Page 14
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White papersEmerging Market Debt Opportunities Monthly Review
Perspective from Franklin Emerging Market Debt Opportunities team.
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White papersIG Credit: Can the Strong Performance Continue?
After a rollercoaster year, IG corporate credit ended on a high note. But all eyes are on the months ahead, and whether we could see a reversal of some of the trends that buoyed the asset class in 2020.
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White papersCLOs: Cautious Optimism
Coming off a tumultuous year, CLOs look well-positioned going forward—particularly if the economy continues to heal and rates move higher.
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White papersUnited States: the power of Executive Orders
Following the elections in Georgia, the Democrats have a very small majority in Congress. To facilitate governance, the new administration is likely to continue to govern using Executive Orders (EOs). Their use has grown over time, and they have become a full-fledged instrument of governance.
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White papersEMD: Light at the End of the Tunnel
The rollout of the COVID vaccine may be slower across emerging markets, meaning restrictions will likely remain in place for the foreseeable future. But there are bright spots—including in local currencies and companies that have adapted to this ‘new normal’.
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White papersECB QE Monitor - January 2021
In December, the ECB bought €57.2bn under the PEPP and €21.1bn under the APP.
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White papers10 predictions for 2021: The world improves, but do markets already know?
At the start of the year, we expected economic growth to pick up modestly and were encouraged by seemingly diminishing macro risks, such as trade policy. Conversely, we were concerned by relatively full stock valuations and thought that market gains could be limited following a strong 2019.
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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 papersEmerging Market Debt Opportunities - Monthly Review
Perspective from Franklin Emerging Market Debt Opportunities team.
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White papersMulti-sector fixed income – The outlook for US and eurozone debt in 2021
Yields of sovereign developed market debt have fallen to record lows in 2020. Daniel Morris, chief market strategist, and Olivier De Larouzière (OL), head of multi-strategy fixed income, discuss the outlook for bonds in 2021.
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White papersCOVID, climate and Black Lives Matter: The stories that defined 2020
We select some of our key pieces of content in a year of unending drama.
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White papersWill Washington Deliver a Holiday Miracle?
U.S. initial claims increased amid rising COVID cases, adding more fuel to the stimulus negotiations fire growing in Congress. China activity data for November should improve, and the Bank of England is expected to remain dovish given the pandemic and Brexit.
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White papersGlobal IG: Don’t Underestimate Changed Behaviours
We came into 2020 on the back of one of the longest expansion phases ever, with increasingly loose monetary policy extending the growth cycle. Because of that growth and low interest rates, companies had been gearing up and corporate leverage was actually relatively high going into the pandemic.
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White papersSeeking income – the case for investing in private corporate debt
Pension funds with current cashflow requirements depend on a steady stream of payouts, but face a number of unique challenges in their search for income against a backdrop of lower-for-longer yields and volatile investment conditions brought on by the COVID-19 pandemic.
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White papersWhy it’s so Hard to go Bankrupt… And Why That Will Change
Massive policy response has firms awash in liquidity, but 2021 will bring solvency challenges that investors need to watch closely.
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White papersHeading into 2021, what do we think about credit markets?
We think that a combination of improving fundamentals and ongoing monetary stimulus will push spreads towards new record tight levels. We see also room for spread compression in high yield. Sustainably low financing costs make high debt levels much more manageable. Consequently, investors should now focus more on the ability of companies to generate profits rather than their level of debt.
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White papers2021 Outlook: The Uneven Recovery
The recovery in many ways looks real and durable—but it also looks uneven and, in some cases, quite unpredictable. In this discussion, investment professionals from the public and private markets discuss where they expect to see risks and opportunities in the year ahead.
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White papersEmerging Market Debt: A Wider Range Of Opportunities, And Challenges, In 2021
Reasons to consider emerging-market debt from Nicholas Hardingham.
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White papersEurope, US and China tomorrow: Will it be possible to avoid geopolitical and economic traps?
There are many pitfalls looming. Some concern China, the United States and Europe, while others are more targeted, notably on China or on the relationship between China and the United States. Some traps concern geopolitics (the Thucydides trap, the Kindleberger trap, the Herodotus trap, the Tacitus trap, the Chamberlain - Daladier trap and the cold war trap), while others deal with purely economic issues (the middle-income trap, the inflation trap, the stagflation trap and the debt trap).
