Fixed Income – Page 29
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White papers360°, Q1 2024: Dispersion, disparity, duration
Will the stars align for active fixed income managers in 2024? In the first fixed income report of the new year, our credit team reflect on the year gone by and what may lie in store in the year ahead.
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White papersAdded Value in ABS
Corporate credit offers tight spreads and a broad consensus—might the complex crosscurrents of securitized products be more interesting?
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White papersKeeping an Eye on Liquidity as Risks Converge
The Fed’s close monitoring and well-signaled tapering of QT should prevent disruptions to the short-term funding markets—despite converging risks.
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White papersFixed Income Quarterly – Emerging market bonds: a return of flows
Emerging market (EM) sovereign and corporate bonds saw a broad-based rally in the final months of 2023 as investors became more certain the US Federal Reserve (Fed) would be able to pivot to easier monetary policy in 2024.
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White papersThe fight against inflation enters extra time
Despite closing in on their inflation targets, US and European central bankers appear hesitant to cut rates. Jonathan Gregory explores the differing drivers behind this, as well as the overall implications for bond markets.
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White papersPrivate Credit Is Gaining Steam—Where Do We Go From Here?
A vast menu of private credit arrangements now finance nearly every aspect of the real economy.
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White papersCLOs: Quality is Key
While there are potential opportunities across the CLO capital structure, we continue to favor higher-quality tranches.
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White papersEmerging Markets Debt: Cautiously Optimistic
Buoyed by a drop in 10-year Treasury yields, moderating inflation, and an economy that continues to chug along, emerging markets debt has entered 2024 on an upbeat note.
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White papersIG Credit: Finding Value in Less Conventional Places
While spreads have tightened, investment grade credit continues to offer compelling total return potential as well as many idiosyncratic opportunities.
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White papersHigh Yield: Can the Strength Continue?
Despite risks surrounding the direction of the global economy, high yield bonds and loans continue to offer attractive total return potential for long-term investors willing to look beyond the likelihood of near-term volatility.
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White papersThe (Still) Compelling Case for Broadly Syndicated Loans
Even as the rate-hiking cycle looks close to its end, loans look well-positioned for strong performance in the year ahead, due largely to the high contractual income on offer.
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White papersBond Investment for Tough Times
Martin Horne recently spoke with IPE about his outlook for credit, what we can expect in the new era for fixed income and what sets Barings apart.
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White papersCan the banks deliver for investors in 2024?
Today, with the exception of the US regional banks, fundamentals across the banking sector are the strongest they have been in decades.
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White papersFixed Income Quarterly – Corporate bonds: a brighter outlook as clouds lift
We expect global corporate bonds to be supported in 2024 by a soft landing in the major developed economies and easier monetary policy. Overall, we believe company fundamentals are robust, particularly in the investment-grade market, with high cash levels, low leverage, and encouraging earnings expectations.
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White papersFixed Income Quarterly – Eurozone: Looking ahead to ECB action
Consumer and business confidence appear to be taking a turn for the better in the eurozone as inflation falls and expectations for interest rate cuts rise. These could help the economy avoid a significant recession.
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White papersTreasury yields mixed on strong economic data
U.S. Treasury yields were mixed last week and spread sectors outperformed as fourth quarter U.S. GDP exceeded expectations. The market continues to price in a 50% chance of a U.S. Federal Reserve rate cut by March, and around five total cuts for this year.
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White papersBullish on bonds
”This cycle of rate hikes may be over, but we don’t anticipate seeing cuts until closer to midyear.”
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White papersIs the “Vibe-cession” for US Consumers on Its Way Out?
Falling inflation hasn’t yet translated into good feelings among US consumers. Based on the latest data, that might be changing.
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White papersIt’s Time to Say Goodbye to ‘T-Bill and Chill’
Investors who wait too long to get off the sidelines may find they’ve missed out.
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White papersHistory lessons for Europe’s central bankers
Consensus is suggesting Europe has solved its inflation problems and substantial rate cuts are imminent – but is this realistic given how far economists and markets underestimated the recent price surge and policy tightening?
