Fixed Income – Page 8
-
White papers
The Modernization of Bond Market Trading and its Implications
The evolution of electronic trading has catapulted the bond market into the modern era. Learn more about “The Modernization of Bond Market Trading and its Implications”.
-
White papers
The case for resilient high yield private credit
With inflation lingering and rates moving at a much slower pace than expected, infrastructure debt, particularly in the higher-quality sub-investment grade space, offers attractive returns and resilience for investors seeking a safe haven in a changeable market, explain Infranity experts.
-
White papers
Asset-Based Finance: Private Credit’s Key Diversifier
Private capital is increasingly being used to finance consumer spending.
-
White papers
Green and Sustainable Bonds: Five Key Questions
With strong sustainable EU initiatives, plus the conclusion of the hiking cycle, attractive carry in interest rate curves, and the likelihood of lower interest rates amid evolving monetary policies, the outlook for green and sustainable bonds is promising, explain the portfolio managers of the Generali Investments SICAV (GIS) SRI Euro Green Bond subfund.
-
White papers
Green bonds boom boosts case for credit engagement
EOS has engaged with companies on behalf of bondholders for many years, recognising that credit portfolios can be hard hit in the wake of serious controversies. Ross Teverson explains how we have evolved our engagement approach as the size of the sustainable bond market has grown.
-
White papers
De-Siloing Your Fixed Income Portfolio
The potential benefits of multi-asset over siloed fixed income management, and why we think asset allocation should be a bottom-up as much as a top-down process.
-
White papers
The U.S.-China Competition Through Four Lenses
Not all Great Power Competitions lead to military confrontations. Explore the U.S.-China relationship through four lenses and whether the current global order faces the risk of confrontation.
-
White papers
Navigating key questions in fixed income investments
This paper contains our latest views based on data analysis using the Franklin Templeton Institute US Fixed Income Navigator (FIN), with a special emphasis on elevated volatility, the potential for interest rate cuts, and a shift to a brighter bond market environment.
-
White papers
Irish banks: a classic turnaround tale… and opportunity
In April, with little fanfare, AIB (Allied Irish Bank) became the first Irish bank to issue a 10-year dollar senior benchmark bond.It was popular with investors: the bank borrowed $1 billion with orders of $7 billion. It was priced at 160bps over Treasuries – a similar level at which we would expect the larger UK and French banks to issue. This confirms that Irish banks are back to their rightful place in the eyes of credit investors.
-
White papers
Fixed Income – A new era for bonds
Surging inflation brought an end to the decade-long era of low bond yields. In the decade ahead, we believe bond yields will not return to the near-zero levels of the recent past or see the steady capital appreciation which marked the prior 30 years. Instead, our view is that inflation and real yields are more likely to remain closer to their long-term averages, supported by central bank policy, changing supply/demand dynamics, and the risk that inflation could spike again.
-
White papers
Macroeconomics, Geopolitics, and Strategy - May 2024
“We expect 75 bps of rate cuts in 2024 as monetary policy remains restrictive, growth will slow down, and inflation data do not alter our projections.”
-
White papers
IMF spring meeting take-aways: short-term resilience, but no reacceleration in the mid term
In recent months, the IMF and other economic forecasters have raised their growth projections for 2024. The April World Economic Outlook showed revisions (+0.3% Global) that primarily affected the US, China and Emerging Markets (EM). These revisions were based on expectations of less economic scarring from the recent crisis, insufficient fiscal adjustment supporting short-term growth and less effective monetary policy transmission compared to the past.
-
White papers
M&A wave could enhance convertible bond returns in 2024
Takeover activity was strong in 2023, both among private equity and strategic buyers. The outlook for this year looks just as promising, in our view, reflecting the recent improvements in liquidity and economic conditions. There is a large amount of dry powder to be deployed, and the hope that interest rates are stabilising should build market confidence, although the Federal Reserve has been unwilling to provide reassurances on this.
-
White papers
High yield: differentiation returns to drive the next leg of performance
European high yield has outperformed the US this year, which in itself is a pretty rare occurrence. But things get even more interesting when you look at what’s driving those returns.
-
White papers
Cross Asset Investment Strategy - May 2024
Topic of the Month: IMF spring meeting take-aways: short-term resilience, but no reacceleration in the mid term
-
White papers
Global Investment Views - May 2024
Recent inflation and growth data from the US indicates continued strength in the economy, leading us and various institutions including the IMF to revise up US growth. We see the current strong momentum to continue into Q2 but expect a deceleration in H2, without negative growth in any quarter.
-
White papers
Emerging market debt: the strong recovery continues
After a difficult couple of years for the asset class, emerging market debt (EMD) is one of the fastest growing parts of the wider fixed-income universe.
-
White papers
Short duration credit: ride the wave
The Euro Kurzlaufer Strategy’s global short duration approach allows it to respond and maximise overall returns based on the relative value of assets, whatever the direction of yields.
-
White papers
An Ocean of Difference
‘Copy and paste’ your U.S. inflation outlook onto Europe and you may miss the opportunity in core European bonds.
-
White papers
Higher Yields Burnish IG Credit’s Luster
Spreads continue to grind tighter—but current elevated yields, combined with the potential for attractive total returns, continue to draw investors into IG credit.