Fixed Income – Page 39
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White papersWhy Bank Loans Look Attractive in Today’s Market
The technical and fundamental picture looks favorable for bank loans for a number of reasons.
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White papersGreen Light Central Banks, Green Light Bonds
Global investors have their pick of reasons to avoid the bond market. Inflation is at levels not seen for decades, growth is soaring, and central banks are backing away from bond purchases while some are already raising rates. Hence, the consensus is forecasting higher rates ahead and crying “abandon bonds!”
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White papersWill Rising Rates Sink Global Corporate Credit?
Brandywine Global: Certainly, spreads are tight. However, there are several factors that remain supportive of corporate credit going forward.
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White papersRevisiting the Term Premium Status
After detailing our findings about the persistently positive term-risk premium across developed market yield curves and how it can affect pension plans’ funded status several years ago, we’re revisiting the topic amid the considerable improvement in plans’ funded status and the corresponding implications for their fixed income allocations.
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White papersRe-entanglement: why debt and reality must reconnect
The long-term relationship between credit quality and the global unemployment rate appears to have broken down of late. But why? Fiorino once again probes the debt universe in search of deeper meaning…
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White papersInflation Hits a Fork in the Road
A great divergence is coming into view on inflation, with the U.S. set to stand apart.
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White papersStill Looking on the Bright Side
In this Allocation Views, our Franklin Templeton Investment Solutions team believe global stocks still have greater performance potential than global bonds, reflecting only slightly slower growth expectations.
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White papersESG bond market bound to deliver another record year of growth
Global ESG bond markets are bound to deliver another record year of new issuance volumes, led by broad-based dynamic activity in all its major segments. In the first nine months of the year, combined global issuance of green, social, sustainability and sustainability-linked bonds were already equal to 145% of global ESG bond supply in full year 2020.
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White papersWhat Rhymes With “Transitory”?
The search continues for a word that describes inflation that will not derail the recovery.
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White papersDoes the end of China’s love affair with property spell heartbreak for investors?
Beneath the surface of the world’s most important industry sector, all is not well, and investors – directly or indirectly exposed – will be profoundly impacted by what the Chinese property sector does next, writes Robin Usson, CFA, Credit Analyst
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White papersHow Vulnerable Is Emerging Market Debt to Fed Tapering in 2022
Swift and prudent monetary policy action in emerging markets that preceded the most recent taper announcement bodes well for emerging market debt markets.
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White papersLessons from COP26 Net-zero pathway a boon to fixed income
Having more data to discuss with corporates is helping to rewrite the framework for investment, says Andrew Jackson, Head of Fixed Income
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White papers5 reasons to invest in high yield corporate bonds in the current market environment
The high-yield market has historically produced positive results over a full cycle, but it tends to do particularly well during the recovery phase of the business cycle as default rates fall, spreads tighten from wide levels and volatility trends lower.
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White papersEM inflation elevated but still relatively contained; local markets could offer relative value
The gap between emerging market (EM) inflation over developed market (DM) inflation has remained contained this time, in part due to weak economic conditions, muted domestic credit creation and proactive EM central banks. Tighter EM financial conditions should anchor longer term EM inflation expectations.
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White papersRisk and opportunity in Asia credit: Chinese property, regulatory shifts, inflation
We believe at the point of Evergrande default, the contagion are, less financial and more real economy in nature. This is because the overall exposure of the financial system to Evergrande from a top-down perspective is much more manageable albeit there are risks around selected financial institutions with higher exposures to Evergrande.
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White papersSocial bonds – A tool to effect positive social change
Social bonds have been the fastest growing segment of the market for thematic bonds. Numerous factors are driving their popularity, including their use to address gender inequality and to support pandemic relief.
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White papersThe role bonds play in a portfolio
Building a resilient and balanced portfolio should be a priority for many investors in today’s environment of heightened financial market uncertainty and volatility across a range of asset classes, including equities.
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White papersIs the U.K. the Newest Leading Indicator?
An upside surprise in U.K. inflation and improving employment trends reinforced markets pricing a 10–15 bps rate hike by the BoE in December, while energy prices eased following the announcements from China, which could provide downside pressure to market inflation expectations.
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White papersAn asset class at a crossroads: reshaping credit through ESG
Our holistic approach considers ESG factors within all stages of the investment process, from initial universe screening through to stewardship and advocacy.
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White papersESG Improvers in Credit Investing
The objective of this article is to explore the impact of ESG Improvers on the corporate bond market. We study passive and active strategies respectively on a broad portfolio and a concentrated portfolio. In particular, we examine how the ESG Improvers strategy behaves if we constrain the optimised portfolio to match the benchmark risk metrics. Some constraints are then relaxed to build a concentrated portfolio.
