All Fixed Income articles – Page 56
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White papersPutting the ‘investment’ in investment grade credit
Investment grade bonds have historically provided a resilient and reliable option during volatile and uncertain market conditions. After last year’s sweeping sell-off, the global investment grade universe now offers an array of opportunities in quality issuers, allowing for effective diversification and the potential for attractive returns.
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White papersWhat gives, corporate hybrids?
Recent underperformance is a response to idiosyncratic newsflow and shouldn’t be seen as a reflection on the broader asset class, says Credit Portfolio Manager Mark Dove.
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White papersStubbornly high inflation sends bond yields higher
UK inflation fell by less than forecast in April, Wednesday’s data revealed, prompting expectations of further interest rate hikes, and pushing bond yields to their highest levels since October.
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White papersLooking beyond traditional LDI instruments as de-risking gathers steam
In 2022, we saw one of the most unprecedented movements in global financial markets in modern history. A combination of global geopolitical problems and supply-demand imbalances of goods and services due to the pandemic left the Federal Reserve (Fed) with no option but to try and slam the inflationary brake by hiking short-term interest rates to stop the economy from overheating.
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White papersInflation Quarterly Monitor
In March, the UK Debt Management Office (DMO) announced its borrowing remit for fiscal year 23/24, alongside the Office for Budget Responsibility’s updated forecasts for gross financing. A small downward revision of £3.3 billion was made to the remit in April, resulting in less short and long dated conventional gilts being raised via auctions but no change to inflation-linked gilts.
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White papersThe case for a higher-inflation regime
Financial markets are convinced headline inflation rates will fall sharply towards central bank targets over the next two years, with stable expectations in the medium to longer term.
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White papersIs the long-term case for emerging market debt still intact?
2022 was a difficult year for fixed income in general, including emerging market debt, amid high inflation and aggressive rate hikes by central banks. While the global backdrop remains a headwind for emerging markets, relatively strong macroeconomic fundamentals in the major EM countries, combined with high starting yields and undervalued exchange rates within local currency debt should provide a buffer to any further volatility.
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White papersThe decade ahead for private credit
In this special issue of Private Debt Investor, Nuveen CEO Jose Minaya and Churchill President and CEO Ken Kencel reflect on the evolution of private credit over the past decade: today, it has not only become an established part of the institutional investor allocation mix, but is increasingly seen as the primary source of financing for middle market companies and their private equity owners. Having proven its worth to the market, the industry is set for further change and growth.
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White papersPrivate credit: A diverse and versatile toolkit for investors
For over a decade, both corporate and consumer borrowers benefited from low-interest rates and a very low cost of capital – but this is changing as global economies continue to adjust to central bank interest rate hikes and an uncertain geopolitical backdrop.
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White papersInfrastructure in 2020’s
Orhan Sarayli, Head of North America for Barings’ Global Infrastructure Group, spoke with Institutional Real Estate, Inc.’s Real Assets Adviser about the increasing appeal of infrastructure debt investing given its resilience through economic cycles.
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White papersSeven questions for investors on the US debt ceiling
What is it? US debt ceiling is a statutory limit imposed on the total debt the government is allowed to have
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White papersGlobal Investment Views - June 2023
”The disconnect within the growth and inflation mix and the market hope for the Fed to quickly turn to an easing stance call for a prudent stance on risky assets and further favours bonds and cash.”
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White papersRaising the roof
Optimism that a resolution to the US debt ceiling crisis is on the cards helped markets this week. In Turkey, a second-round run-off will decide whether incumbent President Recep Tayyip Erdoğan extends his two decades in power.
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White papersUncut gems: The evolution of ESG in EM sovereign debt
There are few asset classes upon which ESG factors have a more visible and profound impact on financial outcomes than in emerging market sovereign debt. However, effective ESG integration in the space remains inconsistent.
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White papersSpecial situations: Distressed debt in testing economic terrain
After a 2022 when primary markets were much more selective than in previous years, and on the backdrop of rising interest rates, a number of companies may find themselves struggling to refinance debt when facing a maturity wall in 2024 and 2025.
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PodcastThe Many Facets of Japanese Investing
Japan, an outlier across the G10 nations, is truly an intriguing economy. While rates continue to remain high in many other developed markets, the Bank of Japan still employs its accommodative monetary policy and sees a lower impact of inflation. Given this unique backdrop, what can Japan offer to its investors?
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White papersIs the Consumer Cracking?
News from the consumer sector reveals intriguing trends, as well as the importance of credit and security selection in today’s complex market environment.
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VideoOutlook for credit sectors
Portfolio manager Damien McCann explains where he sees value across four primary credit sectors.
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White papersTaking a Time Out? The High Price of Idle Cash
Parking your fixed-income assets in cash may seem like a safe choice in today’s volatile investing environment, but it’s actually a risky proposition. Here are three reasons why sitting on the sidelines can be a dangerous game.
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White papersEuropean ABS: Sailing through banking-induced volatility?
At the beginning of the year, few investors would have predicted that collapses in the banking sector would trigger the next bout of volatility and lead to a significant shift in the trajectory and velocity of monetary policy. The failure of three US regional banks and the rescue of Credit Suisse by UBS, which saw CS AT1 bonds fully written down, has led investors to re-evaluate the level of risk premia required to compensate for taking subordinated exposure particularly within the banking sector.
