All Fixed Income articles – Page 12
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White papersGlobal Macro Outlook: First Quarter 2025
We expect all major economies to continue to expand, with the US out front again, as well as positive momentum for business investment. The question for investors will be to what degree US outperformance will extend to the financial markets. Global headwinds are likely, especially in the trade channel in light of proposed tariffs and immigration policies, but our outlook remains generally positive.
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Video2025 Outlook for European Fixed Income: From Uncertainty to Opportunity
In 2024, we had a lot of election risk driving market volatility, and as we enter 2025, we still have a lot of political uncertainty in the form of French and German politics, as well as uncertainty from outside of Europe in the form of tariffs.
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White papersAfter two strong years, what will 2025 bring?
“2025 will continue to offer opportunities and investors will need to assess the impact of Trump’s policies.”
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White papersEuropean Fixed-Income Outlook 2025: Adversity, Uncertainty, Opportunity
European bond markets are climbing a mountain of worry. Despite the risks, history suggests a positive outcome.
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White papersBond yields on the rise
Bond yields started the year with strong upward moves, and reached close to the highs seen in April last year. This latest upward trend, which has been evident from September amid Trump’s election campaign and his eventual victory, has been partly driven by resilience in the US economy.
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White papersThe investment landscape in 2025
Pictet Asset Management’s annual outlook provides detail on the defining themes of 2025. We share critical insights into the challenges and opportunities that financial institutions may face.
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White papersFinancials: Poised for recovery
The positive economic outlook—highlighted by an increasingly likely soft landing—along with industry-specific green shoots, such as favorable credit conditions, improving loan growth, higher net margins and fee income, and a more accommodating regulatory environment, is poised to drive an inflection point in financial services earnings. These factors should help create a return to capital and a favorable earnings environment through 2026, helping extend positive investor sentiment within financial stocks.
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White papersFixed-Income Outlook 2025: Fertile Ground
Continued volatility, falling yields, and other expectations for the year ahead, plus seven strategies to take advantage.
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White papersGlobal Investment Views - January 2025
A semblance of a goldilocks ahead of Trump’s inauguration
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Webinar2025 Outlook: Global Fixed Income Webinar
From high yield to emerging markets debt to investment grade credit, what will 2025 hold for global fixed income investors? Our panel of experts weighs in on the opportunities and risks ahead.
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Webinar2025 Outlook: Direct Lending Webinar
Where is direct lending headed in 2025? Our experts weigh in on a number of topics—from the implications of an increasingly competitive market to the interplay between public and private markets (and what that means going forward).
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White papersEM Local Debt: Time to Shift the Perspective?
EM local debt has historically offered higher yields than the comparable U.S. risk-free rate, and recently has begun to exhibit more stability as well—which presents a compelling case for investors.
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White papersShort Duration Q4 2024 Recap, Portfolio Actions & Outlook
Our latest Short Duration Quarterly Commentary recaps Q4 2024 and shares our sector outlook for short duration bonds.
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White papersQ4 2024 Emerging Markets Review and Outlook
Our current Emerging Markets Review and Outlook recaps Q4 in emerging market debt and looks ahead to 2025, with the Federal Reserve’s path forward unclear and markets bracing for the uncertainty of Trump administration policy changes.
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White papers4Q24 Investment Grade Corporate Market Review and Outlook
Our “Q4 Investment Grade Corporate Market Review & Outlook” examines how Treasury yields and corporate spreads reacted to a busy quarter of market-moving events, highlighted by President Trump’s election. We chart portfolio attribution for Q4 and 2024, then look ahead to catalysts that could push credit spreads wider in 2025.
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White papersPensions find new sources of long-term cash flows
An upside of higher rates for pension schemes is a reduction in the value of future liabilities. Many defined benefit (DB) pensions in Europe are taking advantage of this to derisk portfolios by locking-in higher-yielding, public investment grade fixed income assets, according to Nuveen’s 2024 EQuilibrium survey. This is freeing them up to explore more private investments and, in some instances, these investments are also playing into schemes’ environmental and social objectives.
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White papersFed and ECB cut rates, BoJ and BOE on hold
“The Fed’s hawkish tone signals that the Central Bank is incorporating a more uncertain outlook. This calls for keeping a tactical approach to bond investing.”
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White papersFed 2025 outlook: A fragile balancing act
The Federal Reserve’s cautious policy stance reflects a challenging economic backdrop heading into 2025. Sticky inflation, resilient growth, and uncertainty around the incoming administration’s policies have constrained the Fed’s ability to ease aggressively. While our forecast anticipates three rate cuts next year, the path forward will depend heavily on inflation progress and labor market conditions.
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White papersCross Asset Investment Strategy - December 2024
Topic of the Month: The German economy has been lagging behind other Eurozone countries due to structural changes in its economic model and global trade. A huge investment effort would be needed to relaunch it. Economists recommend making up the lost ground within ten years by making massive infrastructure investments.
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White papersKey Investment Themes 2025
The global economy avoided recession for a second year. Inflation began to cool and the major central banks embarked on a new cycle of interest rate cuts. However, geopolitical risk rose against the backdrop of a particularly busy election calendar around the world.
