All Fixed Income articles – Page 4
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White papersRisk assets face off with rising global bond yields
The recent interest rate turmoil has driven long‑dated government bond yields to notable historical extremes, with U.S. 30-year yields hitting their highest level since 2007, 30-year JGBs since their introduction in 1999, UK gilts since 1997, and German bunds since 2011. Yet, simultaneously, equities have absorbed the rise in yields without too much damage, supported by a strong earnings environment. That resilience should not be taken for granted, however, as the balance of risks is becoming increasingly finely poised.
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White papersRising global bond yields: The test for risk assets
Global bond markets have sold off sharply in recent weeks, pushing long-end yields to multi-decade highs across major markets. U.S. 30-year yields hit their highest level since 2007, 30-year JGBs since their introduction in 1999, UK gilts since 1997, and German bunds since 2011.
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VideoAlternative Credit: Unlocking alpha with quality and diversification
Alternative credit is evolving, with strategies increasingly focused on credit protection, diversification, and capturing an illiquidity premium. Watch Borja Azpilicueta, Head of Capital Solutions, discuss the role alternative credit can play in portfolio construction.
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White papersDeglobalisation: Downing the desire for duration
In the latest Fixed on Bonds blog, Premier Miton Fund Manager Simon Prior looks at why fragmenting supply chains can reduce economies of scale and add to cost pressures over time, ultimately feeding through to consumers.
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White papersInflation is back. Where next for investors?
The sudden Iran-led energy shock has clouded the macroeconomic outlook. However, this inflation spike is part of a wider post-pandemic inflation cycle and investors need to be aware high inflation is now structural, not transitory. Supply shocks, not global demand, are fuelling inflation, a backdrop compounded by geopolitics and a lack of fiscal levers available to governments.
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PodcastOuterblue Talks Research - Adapting to Ruptures - Diversification is the Key to this New Era
Long-term investing looks very different in a world defined by ruptures, from geopolitical fragmentation and strategic competition to artificial intelligence, demographic change and shifting currency dynamics. In this episode of Outerblue Talks Research, host Swaha Pattanaik speaks with Monica Defend, Head of the Amundi Investment Institute, and John O’Toole, Global Head and CIO of Solutions, about Amundi’s latest Capital Markets Assumptions (CMA) report and what it means for investors over the years ahead.
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White papersGlobal turmoil reshapes the municipal credit landscape
Municipal credit is rarely one story, and right now it is telling several at once. From geopolitical energy shocks and Western water scarcity to shifting state tax policy and localized fiscal stress in New Jersey school districts, the factors shaping municipal credit quality today require issuer-level precision rather than broad market calls. Nuveen’s latest municipal credit update breaks down where the risks are real, where they are overstated, and where informed investors may find opportunity. Explore the full report to see what our credit team is watching closely.
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White papersInflation question haunts the market
US PPI, a measure of inflation at the producer level, rose to 6% year on year in April, the highest since December 2022 and well above market expectations. Energy price inflation also rose sharply since March. The data suggest that the war in the Middle East is beginning to feed into the real economy through higher input costs for companies, raising the risk that these costs may be passed on to consumers.
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VideoMike Freno on Bloomberg TV
Chairman and CEO Mike Freno joined Bloomberg’s Romaine Bostick and Katie Greifeld at the Milken Institute Global Conference for a discussion on market volatility, private credit and how Barings is positioned as client needs continue to evolve.
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White papersMacro Brief: How might Kevin Warsh steer the Fed?
Incoming Federal Reserve chair Kevin Warsh is entering a period of inflation uncertainty, an uneven labour market, geopolitical pressures and elevated debt, all of which may limit policy flexibility.
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White papersWarsh appointment: Inflation sets the early agenda
Kevin Warsh’s tenure as Federal Reserve chair begins amid heightened market scrutiny as investors grapple with renewed inflationary pressure. Stronger‑than‑expected April CPI reinforces the case for patience, even as the new chair has expressed comfort looking through one‑off price pressures. However, the Fed’s consensus decision‑making structure and the drift of core inflation away from target both suggest policymakers may hold off on cuts and keep policy unchanged longer than anticipated. For investors, the risk is rising that it will be 2027 before they see any further policy easing from the Fed.
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White papersQ1 2026 Emerging Markets Debt Review and Outlook
Emerging Markets (EM) entered Q2 2026 facing heightened geopolitical and macro uncertainty, driven by rising oil prices, shifting inflation dynamics and increased volatility in local markets. Despite these near-term challenges, resilient fundamentals, disciplined policy frameworks and attractive valuations continue to support EM’s longer-term income and diversification potential.
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White papersInfrastructure Debt: A Compelling Private Credit Portfolio Addition
Updating existing infrastructure and building new assets to accommodate increased mobility, digitalization and the continued transition to new and cleaner sources of energy will require $106 trillion in funding by 2040, according to McKinsey estimates. With government budgets stressed, private capital — including debt capital—will be necessary to meet this goal.
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White papersU.S. High Yield: Beyond the Maturity Wall
The maturity wall facing U.S. high yield bond issuers is sizeable. But given the market’s composition today, the wall appears less daunting for issuers—and, for investors, it’s helping shape potentially compelling opportunities.
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White papersLong-term asset allocation – A resilient world
For all the shocks following the inauguration of Donald Trump as US president, the word most often used when discussing the economic outlook has been ‘resilience’. Neither US tariffs nor war have been able to derail global growth. Forecasts by the International Monetary Fund for economic growth over the next five years are largely unchanged.
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White papersFive Timely Opportunities in Today’s High-Yield Market
As market conditions shift, opportunities stand out.
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VideoPrivate Credit: From Niche Holding to Portfolio Pillar
Private credit’s been on quite a journey over the past 15 to 20 years. If I look back around on the GFC, it was really a niche asset class. You fast forward to today, it has gone from a niche allocation in investor portfolios to a core part of their portfolio.
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VideoWhat Role Can Emerging Markets Debt Play in Institutional Portfolios?
Emerging markets debt (EMD) has grown significantly in breadth and depth over the past two decades, creating a more diverse opportunity set for institutional investors. Against a backdrop of changing trade dynamics, shifting commodity prices and divergent country fundamentals, the panel explores the role of careful selection, active management and bottom-up research when assessing the asset class.
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White papersQ1 2026 Private Credit Quarterly Review and Outlook
In our latest quarterly review and outlook, MetLife Investment Management explores how private credit markets delivered resilient performance amid a more volatile macro environment, with stable spreads, strong origination activity and continued investor demand for high-quality, well-structured assets.
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White papersEM debt: reading the shock and finding opportunities
Emerging markets debt performance is ultimately driven by a combination of global and domestic forces. Global and domestic conditions set the backdrop against which capital flows, borrowing costs, and currency dynamics are determined, while domestic policy credibility and market structure decide whether countries can absorb external shocks or amplify them.
