All Fixed Income articles – Page 22
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White papersSwap spreads: analysis, challenges and outlook
Swap spreads, key indicators of liquidity stress and risk aversion, play a crucial role for insurers. Beyond measuring price differentials between sovereign and corporate bonds, they directly influence hedging decisions, asset-liability management (ALM) strategies and insurer returns under Solvency II.
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White papersDon’t be fooled by the headlines, credit still looks good
Despite the headlines, this remains a positive environment for credit.
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White papersFive factors to watch in multi-sector credit
While uncertainty remains high, the current macroeconomic environment has created a supportive backdrop for multi-sector credit, with yields likely to remain elevated as inflation lingers above central bank targets. Looking further out, our data suggest we should continue to expect positive growth and slowly falling inflation.
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White papersExpecting the unexpected with more robust bond portfolios
2025 was widely expected to be a good year for bonds. The US economy seemed to have found a floor, inflation looked to be contained, and interest rates had a long way to fall. The combination of high yields and capital appreciation from falling rates was, if a bit simplistic, a reason to be excited about the outlook for compelling total returns. But 2025 is looking increasingly like it will be anything but simple, writes Olivier De Larouziere.
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White papersEmerging markets private credit: an attractive, alternative approach
With the private credit industry growing at pace, Mihai Florian, EM Debt Senior Portfolio Manager at RBC BlueBay, explains why EM corporates are in a stronger position than their DM peers and why a long, established track record in EM investing is key to understanding this nascent asset class.
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White papersAt a time of rapid global change, what does Asian EMD offer investors?
Once considered a niche of a niche, emerging market debt has come to the fore as a way to access the world’s most dynamic region. Here’s where we see the opportunity
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White papersAlternative Credit: The diversification benefits of bank originated assets
The investment landscape has transformed dramatically over the past decade, and the role of private credit in institutional investor portfolios has moved from a satellite investment to a core portfolio allocation, playing an important role within a new, uncertain macro environment. Not only have institutional investors continued to increase allocations to private credit, they are also actively looking to diversify within this asset class - seeking solutions which address specific portfolio goals, in addition to providing access to idiosyncratic factors and potential for robust risk return profiles.
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White papers5,500 years old & the next big thing – asset-based finance
Private credit encompasses a dizzying array of strategies – from well-understood corporate direct lending to more esoteric music royalties, fund financing, litigation finance, and real estate credit. Direct lending remains the center of gravity. For allocators looking to build out large scale private credit portfolios, where to go after direct lending can be a challenge. We believe asset-based finance (“ABF”) is the answer – a truly scalable opportunity that focuses on income generation and capital preservation.
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White papersPrivate Credit’s Evolution: Stability, Opportunity, and the Road Ahead
Private credit has undergone a transformation in recent years, and as we head into 2025, the opportunities ahead are clearer than ever. At Arrow Global, we manage and service over €110bn in assets, giving us a deep, data- driven understanding of market performance. The landscape today is shaped by a combination of historical pressures and new trends, and investors who recognise these dynamics will be best positioned for success.
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White papersCentral banks on hold as uncertainty mounts
The US Fed kept interest rates unchanged in the 4.25-4.50% range at its March policy meeting. Citing risks around elevated uncertainty from trade policies, the Fed prefers to wait and see given that the uncertainty is “remarkably high”.
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White papersWill economic uncertainty knock the Fed off course?
The US Federal Reserve (Fed), once the primary driver of markets, has taken a back seat this year to government actions and politics. So far, it’s been a bumpy ride.
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WebinarFixed income investment playbook for 2025
Potential policy changes from the new US administration have raised uncertainty in the outlook for bond markets. Watch two of our senior fixed income portfolio managers, Pramod Atluri and Damien McCann, make sense of the rapidly shifting landscape.
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White papersUnlocking the potential of European Leveraged Loans
We believe that in 2025 the European leveraged loan market will broaden its appeal to investors as a significant asset class to consider. While it has been well established in the US, it has grown significantly in recent years in Europe, with its market size currently close to that of the European high yield bond market.
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White papersWhat is a Defensive Trade Today? Low Vol vs. Quality vs. Bonds vs. Gold
With more investors looking for defensive trades, what counts as a defensive trade in today’s environment? Differences in valuation—and different interpretations of what counts as defensive—mean that not all such trades are equal.
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White papersPositioning for a potential Russia-Ukraine war ceasefire
The Trump administration has initiated talks with Russia on a broad range of security issues, including a potential ceasefire agreement. These developments could have significant geopolitical and economic implications. It is important to emphasise that the process remains fluid – at times an agreement may seem imminent, while at others, negotiations appear to stall.
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White papersActive Credit in 2025
Is volatility creating one of the best credit-picking opportunity sets in recent years?
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White papersNavigating market volatility amid US tariffs and policy uncertainty
Amid uncertainty in equities and credit markets, we remain focused on long-term investment fundamentals and building portfolios to weather the storm and deliver for clients.
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White papersNavigating opportunities in a higher-for-longer market
Today’s landscape offers attractive income opportunities, with elevated real rates and resilient fundamentals supporting diversified sources like dividend equities, real assets, and high-quality bonds.
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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.
