All Fixed Income articles – Page 57
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White papersMacroeconomic Picture - December 2022
United States: Q3 GDP surprised to the upside, lifting 2022 average projections. However, our call for 2023-24 forecast has not changed significantly, with restrictive monetary policy dragging growth well below potential
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White papersEuropean fixed income: the difficult equation if the energy crisis persists
Beyond the impact of domestic economic variables, euro rates are determined by the energy crisis and political monetary choices. The combination of a new regime of higher energy prices and persistent expansionary fiscal policy could lead to a debt supply shock and persistent inflationary pressures.
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White papersDefensive asset allocation extends into 2023, with a gradual increase in risk exposure later in the year
”Global slowdown amid still elevated inflation to characterize most part of 2023.”
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White papersAn Emerging Opportunity
If you are one of the many investors looking positively at high yield bonds, you might want to consider emerging markets debt, too.
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White papersCross Asset Investment Strategy - December 2022
We believe the Fed would keep rates in restrictive territory in the near term. This, coupled with concerns over earnings, allows us to stay cautious on risk assets but with select opportunities in US equities, businesses with strong balance sheets, and quality, value and dividend oriented stocks.
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White papersMacro outlook – The clouds around the inflation peak
The inflation shock has defined 2022. Not primarily because as usual, by eroding purchasing power and corporate margins it has hampered consumption and investment – private spending has been remarkably resilient actually in the developed world given the circumstances – but because it has marked the end of an era for monetary policy.
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White papersHow is private credit positioned to circumnavigate the challenges ahead?
In the current inflationary, rising rate environment, private credit may be well-placed to help steer through the various challenges ahead due to its largely floating-rate nature, as well as other attractive structural features.
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White papersThe Market Effect of Acute Biodiversity Risk: the Case of Corporate Bonds
In this paper, we investigate the relationship between biodiversity and companies, through the lens of corporate bonds. We focus on acute biodiversity events and address biodiversity as a risk, considering its looming losses.
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White papersGlobal Investment Views - December 2022
Markets have seen some relief in a year that overall is likely to be remembered as among the most challenging for investors. But the negative trend reverted somewhat with gains for the S&P 500 and select Treasury Indices.
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White papersThree things to watch in European high yield fixed income
European high yield bonds are warranting a closer look by investors given the significant re-pricing of fixed income markets during 2022.
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White papersEMD outlook for 2023: local currency yields offer protection in volatile conditions
Global factors weighing on emerging market debt (EMD) in 2022 look likely to continue in 2023, with three main driving forces within this: tighter financial conditions led by the US, a stronger US dollar and weak global growth.
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White papersNet Zero Investment Portfolios - Part 1. The Comprehensive Integrated Approach
The emergence of net zero emissions policies is currently one of the most important topics among asset owners and managers. In this research paper, we investigate the integrated approach, which is implemented by equity and fixed-income mutual funds and ETFs.
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White papersInvestment Outlook 2023 – Investing in an age of transformation
In our 2023 Investment Outlook, we seek to guide investors at a pivotal moment for the global economy. Surging inflation and fundamental geopolitical shifts have led to rising demands on governments.
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White papersUK Fiscal Budget: main political, social and market implications
The UK fiscal budget main political implications: The budget is designed to improve public finances, regain market trust, and help the Conservative government regain some ground ahead of the next election.
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White papersDivergences and Pivots
The exuberant response to last Thursday’s inflation data suggests markets are primed for the “pivot”—but could they be extrapolating too far?
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White papersSolving for 2023: Back to the “Old Normal”
Our investment leaders identify 10 key themes that they believe will be prominent in the markets over the next 12 months.
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White papersCredit markets? They’re too cheap to ignore
The market environment this year has proven tricky to navigate, but today’s credit market offers a compelling entry point into global credit for investors focused on long-term, fundamentally driven analysis.
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White papersMarkets bounce on hopes US inflation has peaked
The US inflation rate cooled to 7.7% in October, weaker than many forecasts, to hit its lowest level since January.
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White papersAhead of the Curve, Q4 2022
In our quarterly macroeconomic update, Silvia Dall’Angelo, Senior Economist, provides her outlook for the global economy amid the ongoing war in Ukraine, inflationary pressures and mounting fears of a recession. Is there still ground for optimism? Read our update to find out more.
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White papersUS Inflation Reduction Act: a strong force to accelerate energy transition technologies
In August, the US passed a major milestone in climate policy with the introduction of the Inflation Reduction Act (IRA). As the largest piece of federal legislation ever to address climate change, we believe it will have a profound effect across industries for decades to come.
