Fixed Income – Page 33
-
White papersQuarterly fixed income perspectives 4Q 2023: Recession takeoff delayed but not canceled
While the timing of a recession remains uncertain, unique opportunities exist for fixed income investors as we head into the final quarter of 2023.
-
White papersCentral banks’ endgame: a new policy paradigm
”Investors will need to adjust to a paradigm shift away from the accommodative policy stance that has supported financial asset prices, to an environment that should make bonds more attractive while increasing the risk-adjusted required returns for other major asset classes.”
-
White papersTighten Your Seatbelts
Shifting supply-and-demand dynamics appear to be driving bond markets more than fundamentals, which makes for a bumpy ride.
-
White papersPlanning for long term success in emerging market debt
The fast-paced evolution of EMD as an asset class necessitates an investment approach that can adapt swiftly. In this Q&A, emerging market debt (EMD) portfolio manager Kirstie Spence discusses how to plan for the long-term success of managing the asset class.
-
White papersPosition portfolios for a policy turn
While it is tempting to sit in still high yielding cash, we suggest adding traditional fixed income sectors. Higher income helps investors wait for the end of the rate hiking cycle, and longer duration helps position a portfolio for potential rate declines. We advocate a diversified multisector approach, focused on higher-quality credits across sectors. Active management remains critical, as credit spreads will likely widen in the coming months.
-
White papersA bond market bruising: market snapshot
The yield on global government bonds reached multi-decade highs this week, as markets adjust to a sustained period of higher interest rates.
-
White papersHigher for Longer, Longer the Stronger
We are leaning into quality as markets start to focus away from near-term tailwinds and onto medium-term headwinds.
-
White papersSDG Engagement High Yield Credit, H1 2023 Report
Achieving true sustainability in fixed income is no mean feat: it takes time, expertise, dedication and resources.
-
White papersMarkets hit by ‘higher for longer’ rate expectations
After a volatile September, the S&P 500 Index is heading towards its first quarterly loss in 12 months.
-
White papersInflation: Mapping the impact of the global rate hiking cycle
After a sustained era of cheap money, an abrupt and unprecedented shift in the global interest rate hiking cycle was ushered in, as the world’s major central banks sought to stave off surging inflation.
-
White papersPolitical Gridlock but Fiscal Largesse
How political dysfunction undermines debt sustainability and helps embed structurally higher inflation.
-
White papersFed Meeting Impact: Is It More Than You Realize?
This paper discusses how Federal Open Market Committee (FOMC) meetings have a significant impact on options pricing, creating risks and opportunities for investors employing options-based strategies.
-
White papersESG in private credit: A key differentiator?
Although ESG integration is still relatively nascent in the private debt sphere, advances are being made as lenders take into account the long-term risks entailed with debt issuance.
-
White papersEuro-denominated short duration – only upside from here?
The ECB is at or near the end of its historic monetary tightening cycle. From this point, we believe investors in euro-denominated short duration debt may well stand to benefit – whatever happens next.
-
White papersWhy ABS could be an attractive option for European insurers
A fundamental shift in the UK defined benefit (DB) pension market, sparked in September 2022 by the government’s ‘mini budget’, opened the doors to potential opportunities across the balance sheet for insurance companies. Here we explore how European insurers may be in a position to take advantage of the compelling risk adjusted returns on offer in the European ABS market.
-
White papersGo global for higher income
There is a new reality taking shape in global markets and investors may need to reset their expectations.
-
White papersConsidering potential opportunities in Significant Risk Transfer
A Significant Risk Transfer (SRT) transaction is a first or second loss protection purchased by a bank on a diversified pool of core lending assets, for example, loans to large corporations, as well as SMEs. Although the origins of the SRT market date back to the 1990s, it has only existed as recognised today since the introduction of Basel II in 2007. Here, we explore why now could be a good moment for patient investors to consider SRT transactions, and why this potentially compelling opportunity could be short-lived given where we are in the economic cycle.
-
White papersGlobal Investment Views - September 2023
”The current asymmetric risk/return profile doesn’t call for increasing risks. Instead, investors should stay balanced and search for signals regarding confirmation of the economic direction.”
-
White papersNavigating by Flashes of Lightning
Central banks may be reluctant to hike further, but as long as they tie themselves to incoming data their hands may be forced.
-
White papersEmerging Market Green Bonds - Report 2022
The year 2022 proved a challenging one for international capital markets. For only the fifth time in the last 100 years, U.S. Treasuries and the S&P 500 both ended the year lower than where they started.
