Fixed Income – Page 50
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White papersFlexibility and Fundamentals
The new environment of zero rates and higher credit market volatility calls for a new approach to durable income investing—one that can go anywhere, but remains anchored in bottom-up conviction.
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White papersPositioning for a green recovery from COVID-19
The improving economics of renewable power generation and the rise of electric vehicles and green hydrogen mean it is increasingly possible to decouple economic growth and carbon emissions. We believe Asia should follow the EU’s plan for EUR 225 billion in (truly) green bonds.
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White papersEurovision: why the region’s banks seek dance partners
Economic, regulatory and technological forces are setting a drumbeat for mergers between European financial institutions – and, as Fiorino discovers, many banks are finding a mutually beneficial tempo.
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White papersGreen Bonds Growing In Europe
Green bonds have been growing in popularity as a way to combat the negative effects of climate change across the globe.
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White papersSustainability-linked bonds get the green light
The European Central Bank (ECB) announced its support for sustainability-linked bonds (SLBs) this week. While it is early days for the sustainable-bond market, the statement demonstrates the central bank’s commitment to tackling the climate crisis and the role it can play in helping companies to decarbonise their activities.
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White papersFed’s policy shift may spell long-term trouble for bonds
Bond markets have taken the recent shift in the Federal Reserve’s policy framework in their stride, partly because interest rates are now expected to stay lower for even longer. But they look vulnerable if the Fed can revive inflation.
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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 papersWeathering the storm with infrastructure debt
Investors looking to invest in assets that can stand the test of economic gyrations and come through crises such as the COVID-19 pandemic can find hope in the solidity of infrastructure debt – financial instruments used to fund projects involving large tangible assets such as power plants and roads, argues Karen Azoulay, head of infrastructure debt.
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White papersOpportunities today in middle market lending
Institutional investors are struggling to deliver yield, drive growth and meet liabilities amid low rates and economic malaise. Private credit can be an effective alternative source of income, while providing true diversification. This paper considers a range of investment factors as we determine how to incorporate these opportunities into an existing asset allocation strategy.
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White papersMarket Perspectives: Covid paralysis recedes as political risk rises
Even after the large risk rally in summer and despite the persistent spreading of Covid-19, equities advanced fast in August (MSCI World up by another 6.6%), helped by recovering data, better-than-expected earnings and vaccine hopes.
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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 papersThematics: Eurozone government bonds, a supportive mix of remarkable funding progress and ECB QE still to come
Funding progress looked quite encouraging at July end for Eurozone government bonds, as roughly 80% of estimated yearly net issuance have been placed, mostly (more than 50%) in just four months, between April and July. Putting remaining supply in perspectives with ECB flows, the technical picture for EZ government bonds looks friendly to the current environment of low core yields and subsequent, persisting search for carry.
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White papersItaly’s Bank Tax: It’s Hard to Please Everyone All of the Time
The Italian government’s unexpected announcement raises doubts in investors’ minds about their market friendliness and about Italian banks’ vulnerability to future political meddling.
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White papersEmerging Market Debt Rallies On A Wave Of Liquidity
Why a selective approach that evaluates bonds country by country is best for emerging market debt investing.
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White papersSeparating the wheat from the chaff in fixed income
Like most things in life, investing has its ups and downs. Prudent investors, especially those worried about losing money, but also people who prefer stability to volatility, often choose to invest in bonds – lending money to companies, governments and other entities for, hopefully, a consistent return.
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White papersFiorino: why bank debt investors should care about MDA
In this post of Fiorino, the blog where we aim to decipher complexity in global financials, we give our full attention to a typically complicated capital metric that investors need keep top of mind.
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White papersHow Long Can This Go On?
U.S. government debts may set new records, but investors should focus more on borrowing costs and growth rates.
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White papersResidential mortgages and consumer loans
In this paper, we focus on the case for investing in pools of residential mortgages and consumer whole loans and explore the specific benefits available to insurers making a strategic allocation to the asset class over the long term. We also demonstrate how adding residential mortgages to an investment portfolio could help insurers achieve additional portfolio-level diversification benefits and lower the overall solvency capital requirement (SCR) under the Solvency II standard formula.
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White papersEMD: Further Room to Run?
Emerging markets debt rallied strongly in the second quarter—and while risks remain ever-present, the asset class may benefit from continued monetary stimulus and the potential for a sharper economic bounce-back in the second half of the year.
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White papersWhy USD Fixed Income may look increasingly attractive to European investors
US fixed income can be a valuable source of diversification for European investors, but in the past the cost of hedging of the US Dollar exposure was high, neutralizing this benefit. The situation has changed, and the cost of hedging for Euro-based investors is much lower than in the recent past. Furthermore, we expect this cost will remain low.
