All Fixed Income articles
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White papersPrivate Debt Opportunities in Emerging Markets: Insights for Building Insurance Portfolios
Private debt markets in emerging economies may offer unique opportunities. They can help insurance-industry investors to seek yield enhancement, diversification and less-correlated returns compared to traditional public debt.
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White papersThe M&A Resurgence: Finding Opportunities in Fixed Income
After years of limited activity, companies are looking for a chance to accelerate M&A, but the new administration and its policies will likely set the tone for dealmaking.
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PodcastEmerging Markets Debt in a Trump 2.0 World
How can investors make sense of the macro and geopolitical headlines that are coming fast and furious? Ricardo Adrogue and Cem Karacadag join the Streaming Income podcast to help parse signal from noise.
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PodcastOuterblue Talks Research - US fixed income - Early pain, later gain?
Less than 2 months back in the White House, US president Donald Trump has packed in a great deal; Shifts in policy, tariffs, federal employment, not to mention a huge change in approach to foreign policy. This month, Swaha Pattanaik sits down with Jonathan Duensing, Head of Fixed Income at Amundi US, and Mahmood Pradhan, Head of Global Macro with the Amundi Investment Institute, to try to guide us through the present uncertainty in the markets.
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White papersRethinking the Stock-Bond Correlation
The correlation between stocks and bonds has been a prominent topic of discussion over the past 5 years, particularly due to the resurgence of inflation risks. Many portfolio managers, who had long assumed that the stock-bond correlation was negative, were surprised when this relationship turned strongly positive in the aftermath of the COVID-19 crisis. This article examines the stock-bond correlation from both a theoretical and an empirical perspective.
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White papersNavigating fixed income in 2025: Key trends and insights
Fixed income presents a complex yet promising outlook for institutional investors. Martin Wiethüchter and Sandro Müller, Fixed Income Investment Specialist Group at UBS Asset Management, examine key developments and trends likely to shape the market in 2025 and beyond.
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White papersTariffs and European news fuel volatility
“Rising concerns for US growth amid high policy uncertainty have triggered a strong rotation outside of the US mega caps.”
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White papersGerman fiscal expansion – Whatever it takes!
On 4 March, Friedrich Merz, Germany’s chancellor-in-waiting, proposed a constitutional amendment that would pave the way for an extensive programme to boost defence spending and overhaul German infrastructure. By employing, in English, the phrase “whatever-it-takes”, Merz made sure there was no doubt about the scale of his intentions.
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White papersLocked ‘n’ loaded and ready to fire: first take on China’s National People’s Congress (NPC)
Premier Li Qiang kicked off the annual meetings of the National People’s Congress (NPC) with the government’s Work Report, marking the nation’s biggest political event of the year. Besides a busy calendar of political decision-making, the NPC is also closely watched by markets as Beijing sets the course for the economy and macro policies for the remainder of 2025.
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White papersLocal-Currency Frontier Bonds: EMD’s New Horizon
High yields, surprisingly low volatility and strong diversification benefits are attracting investor interest.
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White papersGermany’s Game-Changing Election
The country’s politics are getting a boost of uncharacteristic urgency from coming Chancellor Friedrich Merz, with even the constitutional “debt brake” up for grabs.
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White papersThe strategic and tactical case for loans
Floating-rate loans can offer attractive yields, low duration risk, and diversification benefits, making them a compelling option in today’s market
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White papersCredit markets remain appealing for income-seeking investors
2024 was the second consecutive very good year for global developed credit markets. Full-year 2024 excess returns show the outperformance of high-beta segments (riskier market segments which provide higher return potential) and EUR markets.
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White papersMaking convertibles great again
The US convertible bond (CB) market returned 11.0% in 2024 and has begun 2025 with increased momentum, driven by a confluence of economic, market, and structural factors. With USD292bn in market capitalisation and 459 outstanding issues, the US market accounts for 67% of the global CB investment universe, underscoring its dominance in this hybrid asset class.
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White papersBond markets in focus amid growth concerns
“With tariff uncertainty affecting market expectations and consumer confidence, bonds are back as a key diversification* engine for global investors.”
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White papersEmerging Markets Debt Restructurings: A Year of Resilience and Innovation
Between 2017 and 2022, 11 Emerging Markets (EM) sovereigns defaulted, representing approximately 15% of the Emerging Markets Bond Index (EMBI) weight taken 12 months prior to default. These defaults can be categorized into three distinct groups based on the catalysts that drove each country into default: pre-COVID self-induced, COVID-induced, and war-induced.
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White papersCan US high yield offer respite from the uncertainty?
After posting 8.2% return in 2024, the US High Yield market has proven to be very stable so far in 2025, despite various headlines with the potential to move markets on both the macro and geopolitical front.
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PodcastOuterblue Convictions – Global Investment Views – Narratives of love and fear
After an eventful month trying to keep up with the breaking news, not least the debut of new AI model Deepseek, concerns over Trump’s tariff proposals, coupled with renewed European security concerns, Swaha Pattanaik and Monica Defend, Head of Amundi Investment Institute, sit down to reflect on what all these events mean for the markets.
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White papersFixed Income 2025: Roadmap
It’s a very dynamic time for fixed income. Get the game plan for 2025’s winners and losers.
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White papersReturn of the Sovereigns
With central banks poised for rate cuts, and fiscal sustainability sometimes called into question, where should fixed income investors be looking now? We explore the return of sovereigns, IG and HY credit as well as the evolving opportunities in EM. Join us as we breakdown the opportunities, risks and strategies.
