All Fixed Income articles – Page 37
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White papersNo winners in the Thames Water travails
Whatever angle you look at things from the prospects for future investment in the UK water sector don’t look good, for anyone. The travails of Thames Water especially (but other water companies are not exempt) have wrought such damage to the sector’s reputation that water, once a byword for the essence of life, is now more commonly aligned in headlines with words including risk, sewage and pollution.
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White papersPrivate credit: Everything old is new again
How do credit markets diversify and potentially smooth out returns in a portfolio? John Popp and Chris Kempton from UBS Credit Investments Group (CIG) discuss the latest market developments, opportunities, and more.
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White papersPrivate Credit: Lessons from a deal-making expert
In a volatile economic climate with inflation and interest rate uncertainties, Kevin Lawi, Head of Private Credit at Credit Investments Group in UBS Asset Management, provides insights on the current state of public and private debt markets
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VideoInvestmentNews: Demand for Private Credit, BDCs Not Slowing Anytime Soon
Matthew Freund, President of Barings BDC, recently sat down with InvestmentNews’ Gregg Greenberg to discuss his outlook for private credit, where Barings is seeing opportunities to deploy capital, and how rates impact the BDC landscape.
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White papersCentral banks divergences on display
The Fed left interest rates unchanged in its latest policy meeting in July but acknowledged that price pressures are subsiding. This could encourage the Fed to reduce interest rates later this year. Across the Atlantic, the Bank of England (BoE) implemented its first rate cut since early 2020 on abating inflation in the UK. In contrast, the Bank of Japan (BoJ) raised policy rates for the second time this year to control upward pressures on inflation.
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White papers2H 2024 Alternative credit insights: Investing for resiliency
Shifting signals on interest rates create opportunities
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White papersThe case for investment grade private credit
Long a core allocation of life insurers portfolios, broader segments of institutional investors are recognizing the benefits of investment grade private credit. Originally concentrated in private corporates and infrastructure debt, investment grade private credit now includes more specialized areas such as credit tenant loans (CTLs) and esoteric private asset-backed securities (ABS).
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White papersLDI: Elections and market reform competing for attention
Whilst most central banks erred on the side of caution, reticent to commence the monetary easing cycle in response to falling inflation and slowing growth, the ECB was the first to take the plunge. With the downside risks to growth in Europe much higher now given the political and fiscal uncertainty in France, as well as a slowdown in German manufacturing growth, the ECB’s deliberate vagueness on the path of easing has allowed it to retain optionality on future cuts.
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White papersA Soft Landing Is Still a Landing
What do slowing growth, lower inflation, tight credit spreads and a steepening yield curve mean for our fixed income views for the rest of the year? If the big story of the moment in equities is the epic rotation out of mega-cap stocks and into smaller companies, the equivalent in fixed income is the ongoing, sharp unwind of a record-breaking U.S. yield curve inversion.
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White papersHigh Yield: A Continued Bright Spot
Compelling income opportunities supported by favorable fundamental and technical conditions continue to attract investors to high yield bonds and loans.
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PodcastEM Debt: The Improving Risk/Reward Dynamics
Dr. Ricardo Adrogué joins the podcast to discuss why risks including those related to inflation, interest rates and EM elections are increasingly behind us, setting the stage for a possible resurgence in investor appetite for EM Debt.
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White papersCLOs: The Positive Streak Continues
While CLOs remain well-positioned for the months ahead, we continue to see benefits to staying up in both quality and liquidity.
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White papersThe case for bonds (as rates inch towards normalisation)
With the Fed expected to begin its easing cycle later this year, bond markets appear poised to generate income to a degree not seen since before the 2008-09 financial crisis.
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White papersBiden’s exit from the presidential race opens a phase of uncertainty
Biden exit from the race: Current US President Joe Biden announced on Sunday that he will not seek re-election and endorsed Vice President Kamala Harris as the Democratic nominee. Senior members of the Democratic party have expressed their support for Kamala Harris. Donations for the campaign have begun to rise after Biden’s decision.
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White papersFixed Income Perspectives Q3 2024
Quarterly macro and market insights from Capital Group’s fixed income team
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White papersEvaluating risk and reward in an ever-changing world
Private markets have grown exponentially since the Global Financial Crisis, and the growth story is far from over. We explore the risks and rewards of this often complex world and why expertise is crucial in achieving tangible results.
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VideoMid-year outlook video – Overweight equities; locking in today’s yields
Equities should see further good returns in the second half of 2024, justifying a continuation of our overweight stance, particularly in the US and for NASDAQ stocks. In Europe, small capitalisation stocks should benefit from the ongoing recovery fuelling consumer demand.
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White papersPrivate Credit Outlook: The Heat is On
Private market growth in recent years has been remarkable. We think there’s more to come.
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White papersMoving beyond cash
With the highest starting yields in 15 years, many fixed income sectors already produce more income than cash. And these sectors offer the opportunity for price appreciation once the U.S. Federal Reserve starts cutting rates, while the yield on cash will simply decline. We advocate a multisector approach that takes selective risk in credit sectors. Active management remains critical, as credit spreads are likely to widen in the coming months.
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White papersDispelling the myths around emerging market debt
Things in emerging markets are not always what they seem. In December 2023, Argentina elected as president Javier Milei, a rabble-rousing populist fond of brandishing a chainsaw on the campaign trail. Milei had a radical agenda, including dollarising the economy and abolishing the central bank – just the kind of policies that alarm investors.
