Fixed Income – Page 57
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White papersIs the bond broken?
An allocation to government bonds within a multi-asset portfolio has traditionally played a vital role in terms of risk management and diversification.
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White papersUnconstrained Credit Fund: Celebrating three years
During a turbulent three years, we have navigated global credit markets to deliver superior risk-adjusted returns for our clients.
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White papersInflation Expectations And Interest Rates In The US
Recently, concerns about rising inflation rates have grown. Yield curves have steepened and interest rate levels have increased.
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White papersESG: Managing Climate Risk in EM Corporate Debt Portfolios
EM companies are making strides when it comes to capturing and disclosing climate risks, but there is work still to be done. Encouragingly, investors and managers are often able to go a few steps further to fill the gaps.
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White papersThe “great acceleration” intensifies pressure on insurers
While the world is recovering from 2020’s massive shock, it accentuated the challenges facing insurers. There is now greater urgency to adapt business models and portfolios while looking afresh at asset-liability management.
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White papersMunis in a new light
Things are not always what they seem. This is proving true in the municipal bond market, where a perception shift is underway that carries profound implications – and opportunities – for investors.
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White papersMarket’s view of transitory inflation in the US may be premature
We have seen an interesting paradox in the markets over the last couple of months: 10-year US Treasury yields and break-even rates on 10-year maturity TIPS (Treasury Inflation-Protected Securities) have moved lower even as inflation has moved meaningfully higher.
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White papersInvestment Insights: Market’s view of transitory inflation in the US may be premature
We have seen an interesting paradox in the markets over the last couple of months: 10-year US Treasury yields and break-even rates on 10-year maturity TIPS (Treasury Inflation-Protected Securities) have moved lower even as inflation has moved meaningfully higher.
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White papersThe inflation moment - Strategies to protect portfolios from inflation risk
As the global economy emerges from its worst slump since the 1930s, we envisage plenty of inflation fertilisers at stake, especially in the United States. Inflationary trends could emerge due to a combination of factors, including the cyclical recovery as countries try to get the pandemic under control and gradually lift mitigation measures
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White papersInfinity and beyond banks: the never-ending battle between old money and big tech
This month, Fiorino examines the tussle between banks and the increasingly belligerent Big Tech sector.
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White papersNGEU soon to be rolled out: the EU has (almost) done its part; now comes the member-states’ turn
In leading the way to NGEU, the Covid crisis may have marked a crucial milestone in European construction. The amounts involved are high enough to play a decisive role, both in accelerating the cyclical recovery (especially in “peripheral” countries) and in providing a supply-side improvement. Member-states, however, will face a major challenge in absorbing them rapidly and productively.
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White papersChina in the global inflation scare
Markets are worrying about rising inflation, but to date, there has been no evidence yet of ‘demand-pull’ inflation amplifying cost-push pressures, especially in Asia. There is also no sign of a global wage-price spiral. Nevertheless, we believe there are reasons to be concerned.
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White papersEmerging Market Debt: Strong, Mature and Core
Investors who have long considered emerging market (EM) debt to be ancillary to their core portfolio may want to give the asset class another look.
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White papersInflation, Expectations & Listening to Your Parrot
“Catch a parrot,” goes the old adage, “teach him to say ‘supply and demand’ and you have an excellent economist.”
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White papersUS inflation – Higher for longer?
US inflation looks set to rise significantly heading into the summer. Contrary to the view that this will be a temporary increase, a number of forces could combine to create greater structural pressure pushing prices higher for longer.
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White papersCoiled Spring
Exceptional garden pinks and yellows mark the arrival of seasonal spring, but the world’s economic data outline a “coiled spring”.
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White papersAbsolute return – An absolute must in fixed income
Classical fixed income is already a source of ‘return-free risk’ in this post-pandemic economy awash with central bank stimulus. Reflationary expectations have expedited the rise in interest rates and aggravated the challenges faced by traditional fixed income strategies and indices.
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White papersUnderstanding Your Bond Portfolio’s Carbon Footprint
Transitioning to a net-zero carbon economy* is vitally important, and to support that journey sustainable investors should monitor the carbon impact of the corporate bonds in their portfolios. But there’s a lot more to understanding a bond portfolio’s carbon footprint than conventional metrics can show.
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White papersFed to keep policy easy despite arrival of economic boom
Evidence continues to mount that a combination of vaccinations and stimulus are creating some of the strongest economic growth data in decades. Even so, the Fed remains committed to easy monetary policy until unemployment falls further and inflation materializes.
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White papersUnveiling the outlook behind China’s distorted Q1 GDP report
China’s economy grew robustly in the first quarter of 2021, at least on the face of it. However, underlying growth momentum has slowed. This should reduce any risk of monetary tightening that investors are worried about.
