All Emerging Market Debt articles – Page 18
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White papersProtective and Proactive
Liquid alternatives and private market investors are proving their worth during the current turmoil.
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White papersEuropean Fixed Income Market Update
In this video, Investment Grade European Fixed Income Head, Patrick Barbe provides an update on current conditions across bond markets, explaining what he believes marks an important turning point in the current situation.
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White papersA Lot Of Bad News Already Priced In US Assets: A Gradual Approach To Exploit Market Dislocations
The US economy has entered a recession, induced by the social distancing and quarantining measures introduced to tackle the pandemic crisis. To monitor how deep the recession will be, we use both traditional macroeconomic data (eg, weekly retail sales, jobless claims) and big data (e.g., dining out, travel and box office sales, travel numbers and google searches for ‘recession’ and unemployment statistics). Both sets of variables suggest an unprecedented collapse in domestic demand.
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White papersMarket weekly – Sustainability and resilience in volatile markets
At the end of the third week of lockdown across much of Europe, Daniel Morris, senior investment strategist, and Mark Lewis, global head of sustainability research, discuss the situation in financial markets and why we do not think this is the time to sell risky assets. Mark also considers the benefits of sustainable investing in the current environment and how the crisis could advance sustainability’s place on the policy agenda.
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White papersEM Debt: When Prices Decouple from Fundamentals
Dr. Ricardo Adrogué discusses how the global pandemic has impacted emerging markets, including implications for sovereign and corporate debt markets, as well as interest rates and currencies.
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White papersInvestment Grade Credit Markets Make an About-Face
As investment grade markets pivot sharply, with spreads reaching their widest level in over a decade, investors turn disproportionately toward quality and liquidity.
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White papersHigh Yield: Finding Value in a Landscape Rife with Risk
Concerns surrounding COVID-19, lower oil prices and a global recession have weighed heavily on markets—including global high yield bonds and leveraged loans. While value opportunities are emerging, the landscape is punctuated with risks that must be carefully navigated.
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White papersMuni bond myths and realities: Bonds are trading, leverage isn’t bad, and widespread defaults don’t look likely
Following a long, unprecedented period of stability and price appreciation, municipal bond funds experienced equally unprecedented volatility and outflows in early March as the COVID-19 pandemic, broader market selloff and economic uncertainty led investors to hit the panic button.
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White papersThematics Views - The Eurozone’s Quantum Leap: On The Road To Debt Mutualisation
The Eurozone’s architecture does not allow it to contain all the risks arising from the current shock. Recourse to an European Stability Mechanism (ESM) credit line without strong conditionality is a de facto first step towards debt mutualisation. Looking ahead, this could pave the way to a European budget and a common debt.
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White papersCentral Banks Are Entering A New Regime: Unlimited Support
Coordinated actions by central banks and governments have a clear objective to prevent a sharp rise in bankruptcies. We are confident in central banks’ ability to address the liquidity crisis as central banks have entered a new regime: unlimited support. However, we have no strong convictions on the depth of the coming solvability crisis.
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White papersEMD Market Update
Gorky Urquieta, Co-Head of the Neuberger Berman Emerging Markets Debt Team, discusses the factors that contributed to the sell-off of EMD assets over the past month and how the team is positioning portfolios in this volatile market environment
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White papersEuro Investment Grade Credit Reacts To The ECB’s Bazooka: Selective Opportunities
Covid-19 is expected to severely damage the European economy in the coming quarters. The answer at the European level to this disruption has been strong on the monetary policy side, with the implementation of the temporary Pandemic Emergency Purchase Programme of €750bn and targeted longer-term refinancing operations, and at the single country level, with targeted fiscal measures.
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White papersCovid-19 fixed income update - Market and economic effects of Covid-19 coronavirus
Last week was another astonishing week for global markets, as the impact of Covid-19 spreads through populations and economies worldwide. Global cases have now reached 723,4341 and several new countries have entered lock-down, including the UK.
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White papersHave We Reached Herd Immunity?
Our chief data scientist explains what the data is saying about the spread of COVID-19.
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White papersHigh Yield: Navigating COVID-19
Barings’ Martin Horne puts the recent volatility in high yield markets into context and describes how the Barings team is both managing risks and finding value opportunities through the crisis.
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White papersPerspectives on Liquidity
Anne Brennan, Chief Risk Officer and Ken DeRegt, COO for Fixed Income, share their insights on managing liquidity in today’s markets, with a look at how this compares to 2008.
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White papersModern Monetary Theory (MMT): from theory to practice
First, the sanitary situation: still worrying. The total numbers of recorded Covid-19 cases is now over half a million, and the number of deaths close to 25k. Contagion from east to west continues, with the US now the center of attention: the country has more reported cases than China. The total number of cases (world) has grown at an average daily pace of 13% in the week to 26 March, 5 points faster than the previous week.
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White papersBond investing in uncertain times – stay invested
The economic impact of Covid-19 will be significant in the near term but will take time to show up in the standard economic dataset. The response of fiscal and monetary policy is critical to stabilising financial conditions and instilling confidence.
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White papersEMD: Finding Fundamental Value Through the Storm
The rapid spread of COVID-19, the precipitous fall in oil prices and the related shock to the global economy have sent markets—including EMD—into a tailspin in recent weeks. In this piece, we explore the resulting challenges and discuss opportunities beginning to emerge.
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White papersDistressed Debt: Despite Challenges, Opportunities Persist
Recent market and economic volatility may be the trigger that distressed debt investors have been waiting for, but capitalizing on opportunities will require a different playbook than those of past cycles.
