All Fixed Income articles – Page 23
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White papers
Planning for long term success in emerging market debt
The fast-paced evolution of EMD as an asset class necessitates an investment approach that can adapt swiftly. In this Q&A, emerging market debt (EMD) portfolio manager Kirstie Spence discusses how to plan for the long-term success of managing the asset class.
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Podcast
The Investment Podcast: Dissecting the fallout from the gilt crisis
Just over a year has passed since the gilt market turmoil of September 2022, sparked by the UK government’s so-called ‘mini-budget’. The fallout from the crisis, as the pound fell and gilt yields spiked, prompted an emergency intervention by the Bank of England to restore orderly market conditions against a global backdrop of high inflation and rising interest rates. A significant change in asset class demand dynamics ensued as pension funds sought to meet collateral calls for their LDI mandates.
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White papers
Macroeconomic and financial market forecasts - October 2023
Macroeconomic forecasts as of 9 October 2023
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White papers
Position portfolios for a policy turn
While it is tempting to sit in still high yielding cash, we suggest adding traditional fixed income sectors. Higher income helps investors wait for the end of the rate hiking cycle, and longer duration helps position a portfolio for potential rate declines. We advocate a diversified multisector approach, focused on higher-quality credits across sectors. Active management remains critical, as credit spreads will likely widen in the coming months.
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White papers
A bond market bruising: market snapshot
The yield on global government bonds reached multi-decade highs this week, as markets adjust to a sustained period of higher interest rates.
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White papers
Higher for Longer, Longer the Stronger
We are leaning into quality as markets start to focus away from near-term tailwinds and onto medium-term headwinds.
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White papers
Labelled bonds: a silver lining from green debt
How has the labelled fixed-income market held up in view of macro events this year? We take a close look to pinpoint areas of strength. In particular, we highlight encouraging signs in the world of green debt, such as the number of repeat issuers among sovereigns.
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White papers
SDG Engagement High Yield Credit, H1 2023 Report
Achieving true sustainability in fixed income is no mean feat: it takes time, expertise, dedication and resources.
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White papers
Markets hit by ‘higher for longer’ rate expectations
After a volatile September, the S&P 500 Index is heading towards its first quarterly loss in 12 months.
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White papers
Deploying AI in Investment Applications: Three Case Studies
There are different ways to apply AI to portfolio management processes. We discuss three distinct approaches in fixed income, hedge funds and equities.
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White papers
What’s next for the Swiss economy?
Inflation is slowing in Switzerland but the economy remains subject to a great degree of uncertainty. What does the latest Swiss National Bank policy meeting tell us about the outlook?
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White papers
Inflation: Mapping the impact of the global rate hiking cycle
After a sustained era of cheap money, an abrupt and unprecedented shift in the global interest rate hiking cycle was ushered in, as the world’s major central banks sought to stave off surging inflation.
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White papers
Three Fixed Income Market Scenarios
With roughly 500 basis points of rate hikes in the rearview mirror, the Federal Reserve has enjoyed significant progress in curbing U.S. inflation. However, reducing core inflation remains a challenge and many developed market central banks have recently taken a more hawkish tone. The European Central Bank and the Bank of England, in particular, may have more work to do.
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White papers
Long the Strong
The prolonged adjustment to higher rates is just beginning, and we think it will likely be more painful for some than others.
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White papers
Swiss credit: approximating bond returns
What ingredients go into calculating expected bond returns? Quite a few it turns out. Using a practitioner’s method, we outline one approach to approximating returns for bonds and bond portfolios.
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White papers
2023 4Q GIC outlook: Stay in the game
Global Investment Committee: Bringing together the most senior investors from across our platform of core and specialist capabilities, including all public and private markets
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White papers
Identifying ‘rising stars’ amid a darkening fundamental outlook
Despite the uncertainty facing corporate credit investors, several bright spots remain. So-called ‘rising stars’ – where credit quality and ratings are transitioning from high yield to investment grade – are undoubtedly viewed as such, and at this stage of the cycle, this is an area of the fixed income spectrum which could provide an important source of alpha for investors.
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Podcast
The Investment Podcast: The state of play in European private credit
Risk assets have repriced over the past year due to financial-market volatility and higher-than-usual levels of uncertainty surrounding issues such as terminal rates, inflation, geopolitics and economic growth. Consequently, we believe private credit currently offers unusually high potential returns while retaining its traditional defensive characteristics of low duration and security.
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White papers
Asia is dominating the electric vehicle battery market
Car electrification is an unstoppable structural trend. We are past the inflection point of this revolution, often understood to be when a new technology reaches 5% of total industry sales.
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Podcast
Riding the Curve: A Sprint or a Marathon?
Recorded on August 23, 2023, this conversation centers on the parallels between the world of running and how investors might consider positioning themselves across the yield curve today to run a successful race. Danny Sarnowski, portfolio specialist for the Plus Fixed Income team with Allspring Global Investments, and Abby Becker, consultant relations associate manager, share their thoughts.