All Emerging Market Debt articles – Page 16
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White papersUncorrelated Through COVID
The rollercoaster ride of the COVID-19 market crisis presented the toughest challenge imaginable to the concept of “uncorrelated strategies”—did they live up to it?
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White papersChina Property: Recovery From the COVID-19 Lockdown
After initial shocks, China’s property markets have regained strength. Strong home price growth and overheated land prices could attract policy intervention as regulators seek to instill a stable housing market, economy and financial system.
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White papersYou asked, we answer
Our Global Views team attempts to answer some of the questions often asked by our clients.
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White papersFixed income dynamics in the current monetary and fiscal landscape
The global economy rebounded quickly during the summer from the coronavirus pandemic. In this phase of recovery, central banks played a key role in the massive supply of credit to governments and companies. To tackle the health crisis, almost all governments implemented large-scale fiscal stimulus and support measures, including corporate loan guarantees. At the same time, major central banks increased their purchases of sovereign debt to levels never seen before, played a backstop role in the corporate debt market and provided cheap liquidity to banks (in the case of the ECB).
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White papersContraction > recovery > late cycle: the cycle round trip is confirmed Advanced Investment Phazer: top-down assessment
The global recovery continues at different speeds and compositions at the regional level. Policies are pivotal in shaping the recovery trajectories, influencing market participants’ narratives and rebuilding confidence.
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White papersNotes on a crisis: from the rear-view mirror to the road ahead (part I)
Rallying credit markets at the turn of the year were followed by the swift, pandemic-induced drawdown in March, ushering in a period of heightened volatility and some of the worst liquidity conditions since the financial crisis. As we emerge from a tumultuous six months, we consider what has changed in markets and what might lie ahead for fixed-income investors.
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White papersCan EM Issuers Pay Their Debt—And Will They?
Emerging markets have been hit hard by COVID-19 but opportunities exist for investors able to navigate choppy waters. In this episode, Dr. Ricardo Adrogue assesses EM issuers’ ability to satisfy their debt obligations—and just as importantly, their willingness to do so.
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White papersEconomic Outlook: Will the debt matter?
In his latest quarterly Economic Outlook, Neil Williams, Senior Economic Adviser to the International business of Federated Hermes examines the impact that various pandemic-related stimulus packages have had on both global government debt and the efficacy of monetary and fiscal tools available to policy-makers.
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White papersThe day after #11 - Post-crisis narratives that will drive financial markets
The Covid-19 crisis has thrown up a sequence of images from the past (pandemics, wars, the Great Financial Crisis) that have pushed central banks (CB) and governments to act in unprecedented ways (in terms of magnitude and speed of action). This has defined the current ‘day after’ narrative.
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White papersThe Crisis No One is Talking About
The migration patterns stemming from Venezuela’s economic collapse provide key ESG insights, especially for Colombia and other neighboring countries, and particularly when compared to the case of Syrian refugees in Turkey.
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White papersThe Evolving Opportunity in Distressed Debt
As the pandemic recedes, some companies may have a harder time managing higher debt levels than others—and as weaker issuers undergo restructurings or other stressed situations, there may be opportunities for investors to deploy more capital into distressed debt strategies.
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White papersMarket Perspectives - Covid paralysis recedes as political risk rises
After a buoyant August for risk assets, the rally is likely to flatten out. Rising new infections into the autumn, a levelling recovery pace and diverse political risks (US politics, Brexit, geopolitics) will keep a lid on risk sentiment.
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White papersThree Reasons for EM Short Duration Debt
Emerging markets debt has shown much resilience despite facing its share of pandemic-induced difficulties. A short-dated approach, in particular, can provide an opportunity to pick up incremental yield and diversification, with less volatility.
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White papers2020 US Election: What the Polls Could Mean for Policy and Markets
The field is set for the 2020 US presidential election, and markets are turning their focus to November’s contest. Of course, we can’t predict the electoral result for the presidency or Congress, and even the market’s reaction is unclear. However, given the stakes of this election, investors would be well advised to track a few key themes.
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White papersPushing on an Open Door – Covid 19 is Intensifying Long Term Macro Trends
The COVID-19 pandemic has had historic—and nearly immediate—repercussions for society, the global economy and policy. The aftereffects will last for many years, reinforcing long-term trends including deglobalization, populism and mounting debt. How will governments tackle the debt overhang—and how do these trends impact our macro views?
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White papersPushing on an Open Door: COVID-19 is Intensifying Long-term Macro Trends…Especially Debt Overhangs
The COVID-19 pandemic has had historic—and nearly immediate—repercussions for society, the global economy and policy. The aftereffects will last for many years, reinforcing long-term trends including deglobalization, populism and mounting debt.
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White papersQuarantined From Market Risk?
We look at whether “uncorrelated strategies” lived up to their label through the COVID-19 crisis.
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White papersPerspectives on Emerging Markets Investing
The first half of 2020 witnessed an unexpected shock that unsettled markets around the world and abruptly ended a 10-year, record-long expansion. Emerging market (EM) economies—profoundly distinct and at different stages of development—have weathered the COVID-19 storm better than expected, yet many face longer-term headwinds.
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White papersVulnerability to Default in Emerging Markets
While emerging markets sovereign defaults are at levels not seen since 2001 this year, rapid policy responses are helping to avoid the worst—furthermore, we believe the corporate default rate for 2020 could be lower than in 2009 or even 2016.
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White papersActive management to find yield in fixed income
Unprecedented monetary and fiscal measures by central banks and governments have installed a low-yield/low-volatility regime in developed bond markets. As investors search hard for yield, senior investment strategist Daniel Morris discusses the prospects for fixed income markets with Dominick DeAlto, chief investment officer fixed income.
