All Fixed Income articles – Page 27
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White papersSurfing the Curve With Short-Duration Credit
Why short-dated bonds may offer the most attractive risk-adjusted yield as the economy slows.
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White papersAsset Allocation Committee Outlook: 1Q 2024
“One of the lessons to take from 2023 is that markets can defy apparently soft fundamentals for much longer than one might expect.”
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White papersNatural Selection: Evaluating Debt-for-Nature Swaps
Investors are becoming increasingly aware of the importance of biodiversity and the urgency of preserving our planet’s natural capital—the stock of natural resources that underpin our economy and society, including minerals, soils, air, water and all living organisms. In response, bond issuers are launching more conservation-linked bond structures that can help indebted developing countries protect their vulnerable ecosystems. These structures require careful evaluation.
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White papersGlobal fixed income outlook 2024: opportunity knocking
The world appears to have moved beyond the height of interest rate hikes, inflation and economic acceleration.
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White papersA Compelling Value Proposition in EM IG Corporate Debt
Elevated yields, improving credit quality and lower interest rate risk are presenting a strong case for EM investment grade corporate debt—especially in a soft landing scenario.
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VideoEuropean High Yield: Can the Winning Streak Continue?
Craig Abouchar, Managing Director, European High Yield, discusses the key factors that have made European high yield bonds compelling this year—and explores the outlook for the asset class against an uncertain macroeconomic backdrop.
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White papersEuropean leveraged loans outlook: Embracing the unknown
Despite another challenging year for financial markets, European leveraged loans bucked the trend generating healthy double-digit returns. Here, we explore some of the key drivers behind the defensive nature of the loan universe and ask: through the many unknowns on the horizon, could European loans provide solace for investors in the year ahead?
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White papersPrivate Credit Outlook: Evolution and Opportunity
Private credit has in a little more than a decade evolved from a niche asset class to a key component of a diversified investment portfolio. We think it will be even more important in 2024 as banks’ reluctance to lend widens the opportunity set for investors.
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White papersFixed Income Investment Outlook: 1Q 2024
Amid slower economic growth and more benign monetary policy, we believe that this year bond prices will be driven less by inflation and central bank policy and more by economic growth dynamics. Rather than seek to play the timing of interest rate reductions, we think it will be more effective to focus on the ultimate destination of rates and adapt portfolios accordingly.
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White papersEMD outlook 2024: Navigating a bifurcated universe
In this outlook, we outline the global backdrop that emerging markets (EMs) can expect in 2024, including a more dovish US Federal Reserve (Fed), a more supportive backdrop for EM currencies and weak global growth.
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White papersOutlook 2024: Prepare for changes in the investing climate
Heading into 2024, it is difficult to remember another time when the outlook was so uncertain. Recession or expansion? Inflation or deflation? Higher interest rates for longer or central banks preparing to pivot? Take your pick and you will find a pundit arguing for each scenario as if it was a foregone conclusion.
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White papersFixed-Income Outlook 2024: Bonds Roar Back
The tide has turned for bonds. Here’s what we think is in store for 2024.
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White papersThe what, why and how of the global fixed income and municipal markets
The evolving fixed income market environment - Key 2023 themes
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White papersTaxable Municipal bonds: yields moving higher
The taxable municipal bond market experienced negative third quarter returns in sympathy with U.S. Treasuries. With the U.S. Federal Reserve (Fed) nearing the end of its rate hike cycle, higher yields have increased future expected returns, given yields are now at levels not seen over the last decade. We believe portfolios should be rewarded by assuming a modestly longer duration profile while adding credit risk.
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White papersThe Monroe Doctrine at 200: Its New Implications for LatAm Assets
We explore the potential evolution of the relationships between Latin American countries and the U.S.
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PodcastFixed on ESG, Ep. Ep. 20 – COP28: Dissecting Climate Progress and Pledges
A review of the takeaways from COP28, the United Nations Climate Change Conference, hosted in Dubai, UAE.
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PodcastAll the Credit, Ep. 47 - Holiday Indigestion: The Investment Implications of GLP-1s
Exploring the investment implications of GLP-1s across fixed income markets and industries.
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White papersTime for credit – why we like investment grade
To better understand the impact of potential macroeconomic scenarios on the asset class, we have undertaken a sensitivity analysis of the global investment grade corporate bond market. This sensitivity analysis points to one clear implication: the importance of investing in fixed income despite ongoing uncertainty. We believe fixed income, in particular credit markets, have become a much more attractive proposition for investors.
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White papers‘Peak rates’ and opportunities for credit selection in 2024
After two years of declines, 2023 proved to be another tough year for bond investors. However, a powerful rebound towards year end helped the global bond index end the year in positive territory for the first time in three years. Below, Jim Leaviss, CIO Fixed Income at M&G Investments, shares his views on the prospects for bond markets in today’s ‘peak rates’ environment, while senior credit portfolio manager Richard Ryan looks at the opportunities presented by fundamental credit selection.
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White papersResilient private credit fills a growing need across U.S. and Europe
The U.S. and European private credit markets have been a significant success story of asset management for the last decade.
