Fixed Income – Page 16
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White papersAssessing EM Central Banks’ Stance On Inflation
The debate around whether recent spikes in inflation data are temporary or signaling the beginning of a more long-term phenomenon is central to the performance of local currency emerging market debt (EM). Central bank policy responses are key to determining EM vulnerability and performance over the medium term. However, base effects make it more difficult to determine whether recent price increases are temporary or not.
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CLOs: The Proof is in the Process
In this Q&A, Adrienne Butler discusses Barings’ longstanding presence in the CLO market and shares her views on what it takes to navigate the often-misunderstood asset class.
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Euro fixed income: EGB supply/demand dynamics to improve in H2-21
EMU-10 EGB net issuance, net of ECB QE purchases, is likely to be negative in H2 this year for three main reasons: 1) front loading of sovereign debt supply in H1, 2) roughly 60% of yearly bond redemptions still to come, and 3) ECB QE purchases to remain steadily high.
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White papers
The price of self-sufficiency
The disruption of global supply chains has been a wakeup call for the European Union. For years, the principle of an open and free Single Market has led to a massive transfer of industrial production and outsourcing mainly to Asia.
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Fiorino: banks versus shadow banks, a heavyweight battle emerges from new financial fields
Money gives weight to power, with the all-pervasive field of banking typically behind this transformation. However, as Fiorino discovers, a previously hidden force in the banking universe is now revealing its massive influence…
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Is 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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Unconstrained 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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Inflation 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 papers
Opportunistic Investing in a Dynamic High Yield Market
The high yield market, including bank loans and distressed credit situations, remains an attractive option for investors seeking meaningful income in a relatively low-yield environment
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ESG: 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 papers
EA Inflation: More About Credibility Than Persistence
As rising inflation expands globally, it is natural to draw comparisons between conditions in major economies, namely the U.S. and the euro area. Although inflation prints in both economies stand at multi-year highs, we believe the surge in European consumer prices will be even more transitory.
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White papers
The “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 papers
Munis 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 papers
Surging Home Prices May Lead to Rate Hikes
The return of housing as an economic driver gives the Fed options.
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Four Keys to Tackling the Green Bond Boom
Increased issuance means more buy‐side diligence is needed.
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The Case for Global High Yield: Why now? Why Indexing?
The attractive risk/reward characteristics of high yield bonds mean they continue to gain traction with investors. Their combination of higher yield and lower duration is a sought-after feature in the current low-yield environment.
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White papers
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 papers
Macro Views: Manoeuvring Gold in a Changing Macro Economic Landscape
Gold has been an interesting trade over the years, shining at times and disappointing during others. Its diversification properties, store of value and hedge against inflation are reasons why investors like allocating part of their portfolios to the yellow metal.
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White papers
Anticipating the climate change risks for sovereign bonds (part 2)
Regulators and international institutions require financial risks assessment of climate change, however the practical methodology frameworks available are lacking. This paper provides an innovative and practical methodology that measures the financial impact of climate change risks on sovereign fixed-income assets.
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White papers
Investment 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.
