All Fixed Income articles – Page 13
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White papers360° Fixed Income Report: How not to be a deer caught in the ‘headlines’
Read our latest 360° fixed income report to learn more about our credit team’s outlook for macro, fundamental and technical forces.
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White papersFed moving towards rate cuts
“The US Fed is carefully treading the policy path forward, given the mixed macro data. As signalled at the recently concluded Jackson Hole symposium, the central bank is likely to start cutting rates in September, in line with our expectations.”
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White papersChina Bonds: Diversification potential beyond the Dollar
Strategic Allocation in a Shifting Global Paradigm: UBS (Lux) Bond SICAV – China Fixed Income (RMB)
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White papersHigh Yield: When Boring Is Better
Elevated yields and conservative balance sheets are helping high yield stay resilient amid trade uncertainty.
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White papersSAR’s in their eyes: the turning tide in UK water utilities
With news emerging that the government may appoint an administrator for Thames Water, something Premier Miton’s Fixed Income team forewarned, attention turns to the broader UK water sector. Once plagued by underinvestment and excessive debt, the tide appears to be turning. Improved allowed returns from Ofwat, fresh equity injections into key players, and the anticipated Cunliffe review signal a more investible future.
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White papersWhy US Dollar-Based Bond Investors Should Look to Europe
As investors re-evaluate their allocations to US assets, we think they should consider euro-denominated bonds.
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White papersA 20,000-Foot Perspective: Can Bonds and Equities Both be Right?
The combination of stagflation concerns from macro data and robust corporate earnings in the last week have helped bolster the case for a striking gap between fixed income and equity premia persisting, highlighting the complex and finely balanced growth outlook.
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PodcastTalking Heads – Setting a course for investing in the rest of 2025
With the second half of the year now well underway, what are the prospects for the major economies and financial markets as tariffs remain very much in the headlines? Is an overweight position in equities versus bonds still appropriate, including a preference for US equities, and particularly technology stocks?
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PodcastHigh Yield: Tariffs, Tensions & Tactical Shifts
Head of Global High Yield, Scott Roth joins the Streaming Income podcast to discuss how tariffs and quickly shifting macro-economic and political dynamics are impacting corporate fundamentals and the backdrop for high yield bonds and broadly syndicated loans today.
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VideoMid-year investment update – Which way will the wind blow?
After a first half fraught with many challenges, what will steady investor nerves, if anything? Will the resilience of the US economy persist as deregulation, lower energy prices, mergers and acquisitions, fiscal stimulus and business investment outweigh the effects of import tariffs on inflation and consumption?
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White papers“US(D) exceptionalism” is not going away
Although equity investors have been adjusting their regional allocations away from the US dollar in recent months, there is little sign this is happening in bond markets, where yields remain high and alternatives to the dollar are limited.
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White papersAsset Class Returns H1 2025
Improved growth/inflation mix: Our long-term model assumptions anticipate a fragmented and even more delayed energy transition, incorporating secular trends and uncertainties that impact price dynamics and volatility. Compared to last year, the growth/inflation outlook appears less penalised by a restrictive regulatory framework around the energy transition, but the uncertainty around inflation has increased.
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White papersWill the Fed Stay in the Monetary Policy Driver’s Seat?
Efforts to reduce the central bank’s autonomy would likely disrupt markets.
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White papersMid-year investment update – Through the rapids
Markets have faced no shortage of challenges over the last quarter, most notably the threat of US import tariffs after ‘Liberation Day’, but also the prospect of a surge in oil prices stemming from the conflict in the Middle East and a sell-off in US Treasury yields following an expansionary budget bill in the US.
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White papersDiversifying direct lending portfolios through sponsor-less lending
The landscape for direct lending is crowded. Increased competition and limited buy-out activity have put lenders under more pressure to deploy. In navigating the challenges of a maturing asset class, investors may consider sponsor-less lending in the lower mid-market as a means of diversifying a portfolio and enhancing the potential for return.
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White papersWhy the construction of a Cashflow Driven Investment strategy is key
Within any portfolio, getting the construction right is an important element to ensuring that the objectives and aims are met. For Cashflow Driven Investment (CDI) strategies, this is particularly true given their long-term horizons and often tailored fixed income allocation.
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VideoInvestment Grade Credit: Panel Discussion with Mercer, LGPS Central & Capital Group
Capital Group participated in Asset TV’s Investment Grade Credit panel alongside Mercer and LGPS Central, sharing insights on global credit dynamics, private credit, sector resilience, and how institutional investors are navigating today’s evolving IG credit landscape.
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White papersPension funds themes for an era of geopolitical and policy shifts
Our short-term outlook for the second half of 2025 highlights significant shifts in the global rewiring of trade and financial markets, alongside historic changes in tariffs and fiscal policy. These developments carry important implications for long-term investors, particularly pension funds, for which we see three key investment themes.
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White papersGlobal Investment Views - July-August 2025
Global equities reached new record levels in July on expectations of trade deals, easing of US tariff threats and hopes of a short-term boost to US growth from the One Big Beautiful Bill Act (OBBBA). This has happened despite US tariffs moving higher (when compared with before Trump came to power), indicating some complacency in risk assets. On the other hand, bond yields in the US, the UK, Europe, and Japan are reflecting concerns over debt sustainability.
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White papersThe need for stronger US fiscal policy
US Treasury bonds have long provided domestic and foreign investors a modest yield that was assumed to be risk free. Yields (and thus prices) could be volatile, but the risk of the US government defaulting on its debt was regarded as so low that US Treasury yields became a benchmark for all other government and corporate debt: If the US government had zero risk of default, the default risk of any other borrower could be simply measured by looking at the additional yield it offered over a comparable Treasury security.
