All Fixed Income articles – Page 5
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VideoTalking Markets – The Case for Coco’s
In this edition of Talking Markets, Head of Fixed Income, Lloyd Harris and Fund Manager, Simon Prior discuss all things contingent capital; sharing what coco’s are, their capital structure and how the team use them to their advantage, gaining access to sought after areas of the fixed income space, including financials, banks and insurance companies.
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VideoPortfolio Finance: Private Markets’ Next Great Asset Class?
In the latest episode of Streaming Income, Head of Portfolio Finance, Dadong Yan helps to define and de-mystify the growing opportunity in Portfolio Finance.
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White papersHigh Yield: Shelter From the (Rate) Storm?
High yield bonds and loans have proven their ability to weather uncertainty and look well-suited for an environment in which rates, and potential rate volatility, may remain front-and-center.
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White papersFX reserves and the 10-10-10 proposition
Over the next 10 years the US dollar will likely surrender another 10% share of global foreign exchange reserves – but there will be no single beneficiary, with 10 different currencies all growing their allocations
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White papersTrump’s first 100 days: Five policies shaping markets in 2025
With an ambitious policy agenda, President Donald Trump’s first 100 days in office will provide an early indication of his ability to sustain momentum in delivering on his promises. Wasting no time, Trump has unleashed a whirlwind of executive actions across a variety of policy focus areas, though many are likely to be challenged in court.
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White papersThe Fed’s dilemma
Recent inflation numbers are in line with a short pause in the path towards the Fed’s target, yet bond yields have moved sharply higher since the Fed’s big cut. Medium-term inflation expectations – including FOMC member expectations – have moved higher (see chart), but most of the increase in ten-year yields since the election reflects a rise in real rates.
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White papersWhat could the new cycle hold for real estate debt investors?
Real estate debt is attracting increasing attention from investors globally, as well as new market entrants, with the potential for equity-like returns for credit investing like never seen before. As we move into a new cycle, we look at the opportunities for non-bank lenders.
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White papersInflation in focus ahead of Trump’s inauguration
“In the Trump 2.0 administration, the fiscal outlook and inflation expectations will be the main market themes to watch.”
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White papersFixed Income Perspectives Q1 2025
The fourth quarter ended with higher bond yields as the market reduced its expectations for future rate cuts from the Federal Reserve (Fed).
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White papers2025 Fixed Income Default Study
An examination of our bottom-up default outlook and total return forecasts for 2025
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White papersFixed income perspectives 1Q 2025: Finding opportunities in a dynamic global environment
Fixed income markets are navigating diverging central bank approaches, presenting both opportunities and challenges for investors. With elevated yields, robust credit fundamentals, and selective opportunities across asset classes, fixed income offers an attractive landscape heading into the new year.
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White papersHigh yield: Historically attractive starting yield levels
High yield credit offers compelling income opportunities, with starting yields in the 7–8% range historically associated with strong forward returns. Strong fundamentals, including low default expectations and solid credit metrics, provide resilience against the modest spread widening expected in 2025. Elevated issuance and a higher-quality index composition further support high yield’s ability to balance risk and reward in a dynamic market environment.
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White papersDiverging fortunes: Global Market Perspectives, 1Q 2025
Despite elevated policy uncertainty, a solid economic backdrop implies this is still a risk-on investing opportunity. Our quarterly investment outlook highlights the themes and investment implications for the period ahead.
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PodcastChina: Projections for 2025
In this episode, we weigh possible growth scenarios for China, the impacts of tariffs, private sector confidence, and property sector challenges.
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White papersFixed Income Investment Outlook 1Q 2025
With inflation continuing to improve, the downward path of central bank rates remains on track, if uneven geographically given U.S. economic strength. Now, amid political turbulence, attention is shifting toward fiscal issues— spending and tax policy—that could affect issuance patterns and yields, particularly at the longer end of the curve. We are constructive on fixed income for 2025, seeing potential in shorter durations and in optimizing carry amid narrow credit spreads. At the same time, the unpredictability of political cycles could make for an eventful year that requires vigilance in guarding against risk.
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White papersVolatility, velocity and vigilantes
Volatility is how markets express uncertainty, and 2024 offered its share of ups and downs.
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White papersWhy invest in trade finance?
The demand for trade finance continues to increase, despite a global shortage of financing to facilitate the deals. As we outline in this paper, this shortfall has created an array of potentially high-yielding investment opportunities for providers with the right resources, analytical teams and banking connections.
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White papersThe ‘why and how’ of integrating biodiversity into fixed income strategies
One of the fundamental features of biodiversity is that it reaches into every part of our lives – and that means the impacts of biodiversity loss are also felt across investment strategies. Looking specifically at fixed income, we see important reasons why investors should integrate biodiversity into their decision making.
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White papersInvestment Outlook – Finding opportunities and tackling volatility
Already early into the new year, it is becoming clear that ‘looking for opportunities as markets shift’ and ‘dealing with volatility’ are the standout themes for 2025, as we had signalled in our Investment Outlook Opportunities in a volatile world.
