Fixed Income – Page 21
-
White papersMaking the case for structured credit
Despite a challenging outlook for broader credit fundamentals, structured credit may be well placed to weather the storm, argues Senior Portfolio Manager Andrew Lennox.
-
White papersEmerging markets debt: Stable macro backdrop fuels emerging markets
Emerging markets debt: Stable macro backdrop fuels emerging markets
-
White papersGlobal Corporates: Investment-grade corporates offer attractive yields and abundant liquidity
The second quarter of 2023 saw some calm return to financial markets following the eventful start to the year caused by the problems in the banking sector. A key theme for markets during the quarter was the resolution of US debt-ceiling negotiations, although other risks remain, including the potential impact of interest rates being higher for longer, concerns over the health of the commercial real estate sector and fears of a global recession.
-
White papersMacro insights: Resilient growth buoys markets, but risks elevated
Investors powered a broad rally in risk assets in the second quarter as recession concerns appeared to diminish.
-
White papersThe UK’s trifle with inflation
Brandywine Global: With the Bank of England still struggling to contain inflation, we believe market expectations for additional near-term rate hikes have left gilts attractively valued relative to other G10 countries.
-
White papersHow cost-conscious buy and maintain strategies seek to avoid pitfalls in credit investment
Buy and maintain (B&M) strategies can have the same characteristics and potential benefits of traditional credit portfolios. They can provide the yield, spread over government bonds, income and potential returns from the bonds held, as well as the potential to fulfil investors responsible investment objectives.
-
White papersForging sustainable investments in European leveraged finance and CLOs: Part 1
In the past two years, the proportion of European assets under management with an ESG overlay (as measured by funds that are categorised as Article 8 and 9 under the Sustainable Finance Disclosure Regulation, or SFDR) has risen to nearly 60%.
-
White papersDistressed Credit: Changing Tides
For over a decade now, a low interest rate environment allowed for companies to take on significant levels of debt to fund their expansion efforts. Ray Costa, Benefit Street Partners, and Eric Larsson, Alcentra, discuss the impact of the changing US and European macro picture on the distressed debt market.
-
White papersThird Quarter 2023 - Fixed income perspectives
Themes, outlook, and investment implications across global fixed income markets
-
White papersAppraising Swiss bonds: what does price tell us?
Unlike equity prices, bond prices usually depend on elements beyond the fundamental valuation of the underlying entity. In fact, the price on its own typically says little.
-
White papersProtecting Real Estate From Climate Risks
AEW sets out concrete steps for meaningful climate-change adaptation
-
White papersNavigating rising distress levels in leveraged loans
A direct lending strategy focused on the northern European senior secured segment offers one of the best protected high yielding opportunities at the present time, says Laura Vaughan, Head of Direct Lending.
-
White papersWait and see (redux)
Recent inflation and GDP data complicate the course of central bank policy.
-
White papersHigh Yield: Reasons for Cautious Optimism
As investors braced for higher rates and an impending recession, second-quarter markets performed with surprising resilience. Together with a higher-quality market and attractive yields, the case for high yield looks compelling.
-
White papersCentral Bank Watch: Not sufficiently restrictive just yet
The Franklin Templeton Fixed Income (FTFI) Central Bank Watch is a qualitative assessment of the central banks for the Group of Ten (G10) nations plus two additional countries (China and South Korea).
-
White papersUS vs European credit: which is more attractive?
Value had a decent 2022 while growth lagged across equity markets. This continued until March 2023, but that trend has recently been reversing. This trade-off is often associated with the relative performance of US and European stocks: US is quality growth and Europe is value, so to speak. In this weekly edition of Simply put, we ask: does the same dynamic apply in credit markets?
-
White papersThe View From the Peak
Despite hawkish policymakers and very mixed economic data, the approaching plateau in rates brings more clarity and conviction to our fixed income views.
-
White papersClear and easy access: Gaining entry to private credit
As private markets continue to evolve, improved accessibility is opening the doors to potentially unique opportunities across the private credit spectrum through different fund structures that seek to meet diverse needs.
-
White papersInsurance Fixed Income Outlook: Transition to more liquid assets
European Insurance companies started 2023 with high solvency ratios and a good outlook to improve their underlying profitability thanks to strong rate increases in reinsurance, and commercial P&C, while 2022 prices increases in retail P&C are slowly mitigating inflation.
-
White papersPrivate credit: Perspectives on opportunities and risks
Even as traditional fixed income offers more attractive rates, institutional investors continue to explore alternative credit.
