All Fixed Income articles – Page 11
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White papersEMD report. The end of exorbitant privilege?
The shift in U.S. trade policy under the new administration has exposed deep structural issues in developed markets (DM). While initial fears of a collapse in asset flows were exaggerated, the long-term fundamentals are shifting. Post-global financial crisis, DM governments absorbed private sector debt, creating a cycle of easy money and rising public debt. The pandemic intensified this trend, pushing debt-to-GDP ratios beyond national income in many DM countries.
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White papersEmerging market debt: investing at the cutting edge of global change
The emerging market debt (EMD) asset class has expanded dramatically over the past 30 years, when it consisted of a small set of countries in Asia, EMEA and Latin America. At the inception of JP Morgan’s sovereign index in 1995, there were eight countries with USD government bonds included. The investible universe now consists of 109 countries with bonds issued in hard and local currency by governments, quasi governments and corporates.
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White papersChanging tides: how emerging market debt is adapting to a sea of change
Emerging markets (EM) have proven proficient in adapting to an ever-changing geopolitical and macroeconomic landscape and, despite the fears surrounding President Trump’s tariffs, have navigated the impact well. The diversification of the EM universe has proven a cushion for fixed income investors.
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White papersEmerging market investment grade bonds: a strategic anchor in today’s uncertain world
Emerging market investment grade (EM IG) bonds, considered the defensive corner of fixed income, offer the potential for steady returns from higher yields and lower volatility. These bonds are underpinned by strong fundamentals, broad regional and sector diversification, and a track record of resilience during financial crises. Active managers can capitalize on inefficiencies within the EM IG space, presenting a compelling investment opportunity.
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White papersHigher yields signal fiscal considerations may be back in the spotlight
Rising long-term bond yields reflect growing investor focus on fiscal sustainability, as elevated government debt and deficits re-enter the spotlight and drive cross-market volatility beyond central bank policy shifts.
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White papersEmerging markets fixed income: Past, present and future
Over the last decade, emerging market (EM) sovereign and corporate hard-currency debt outstanding has grown significantly, with just over half of it rated investment grade. Over the same time period, EM local currency debt for sovereigns and corporates has grown to become the dominant segment of EM debt.
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White papersAlternate routes: The Fed’s moves and implications for stocks, bonds and beyond
While the path ahead for the economy and markets remains uncertain, compelling fundamentals emerge across asset classes, from traditional and alternative credit sectors offering attractive yields to opportunities in U.S. large cap stocks, real estate and infrastructure, with insights spanning the Fed’s policy implications, key economic indicators, asset class positioning, portfolio construction themes and actionable investment ideas.
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White papersMIM Short Duration Commentary Q3 2025
MetLife Investment Management’s Q3 2025 Short Duration Quarterly Commentary provides an informed look at how shifting macro and sector trends shaped short-term fixed income strategies.
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White papersThe end of exorbitant privilege? EMD report Q3 2025
Fast-developing economies are transforming global markets.
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White papersEuropean High Yield: A Compelling Case in an Uncertain World
European high yield has been resilient during periods of lower growth. And, looking forward, we believe there are several key reasons why the asset class remains well-positioned, despite the unknowns on the horizon.
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White papersInfrastructure Debt: A Strategic Anchor in a Shifting Landscape
Infrastructure debt is evolving into a cornerstone of institutional portfolios. Barings explores how macro trends, financing shifts, and investor innovation are reshaping the market and unlocking long-term value.
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White papersThe Many Sub-Asset Classes Within Fund Finance
In this interview with Private Debt Investor, Matt Hansford, Head of Europe, Portfolio Finance, discusses the rise of fund finance as a core institutional asset class and explains why generating alpha and rapid capital deployment are some of its key advantages.
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White papersUS dollar dominance: Playing Jenga with the global monetary system
Assumptions that underpin the US dollar’s status as the world’s primary reserve currency are eroding more quickly than expected. What happens if the tower starts to collapse?
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White papersEmerging Market Bonds: Moving in the Right Direction
A weaker dollar and FED easing cycle are fueling strong performance and renewed inflows into emerging market fixed income. Solid fiscal reforms and improving credit metrics further enhance the appeal, especially in key markets within a heterogeneous universe.
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White papersECB strategy review: The investment implications
A cursory glance at the European Central Bank’s (ECB) 2025 monetary policy strategy assessment shows no major changes to its last review four years earlier – something which should, in the main, comfort investors. However, a deeper dive into the document and the surrounding macroeconomic backdrop reveals it to be - in our view at least - an ECB strategy policy overhaul, rather than a technical fine-tuning exercise.
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White papersPrivate credit’s next phase: finding opportunity in a maturing market
The private credit market has experienced remarkable growth in recent years, with significant increases in capital inflows from both institutional and retail channels. Its success and expansion has naturally attracted scrutiny, with some observers questioning the sustainability of the asset class. This paper offers an alternative perspective: the current state of private credit represents a natural progression of a maturing asset class.
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White papersCharting new currents: Top 10 with… Interview with Joe Sciortino on private credit
Amid tighter regulation, macroeconomic uncertainty, and changing bank appetites, investors are increasingly looking to private credit for stability and opportunity.
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White papersInflation or employment? The Fed makes its choice
The scales have tipped in the US Federal Reserve’s (Fed) long-running balancing act between taming inflation and promoting full employment. With September’s quarter-point interest rate cut, the first such move in nine months, Fed officials appear to have made the labour market a key concern.
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White papersMuni market: embracing challenge to create opportunity
The municipal bond market is approaching a compelling inflection point. While headlines focus on yield curves and historical comparisons, a deeper narrative is emerging — one of resilience, strategic opportunity and potential reward for forward-thinking investors.
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White papersMacro brief: What to expect next from the European Central Bank
Greater-than-expected economic resilience in Europe has led our Capital Strategy Research (CSR) team to revise expectations around the European Central Bank (ECB) in the short term.
