All Fixed Income articles – Page 60
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Research ReportNuveen global fixed income impact report 2021
Welcome to the Nuveen global fixed income 2021 impact report which demonstrates how impact investing in public fixed income markets is not only possible, but vital to addressing many of the large-scale, systemic challenges the world faces today.
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White papersInvestment Viewpoint: Asia Fixed Income Outlook 2022
2021 was historic for our asset class by many accounts. Asian High Yield (HY) had its worst annual performance since 2008, down over 11% and recorded a default rate of 13%.1 There was an unprecedented USD 50 billion of Chinese HY defaults which means one third of Chinese HY defaulted in 2021.
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White papersReasons to invest LO Funds – Fallen Angels Recovery
Fallen angels are bond issuances which are downgraded from Investment Grade to High Yield.
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White papersInvestment Symposium Series – Signs of a thaw in China’s property freeze
China’s efforts to tackle soaring home prices and rein in its large property developers have sparked heavy asset price falls and concerns over a credit crunch. However, for our China specialists, there have also been signs of a gradual turnaround.
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White papersEquity Convexity and Unconventional Monetary Policy
In this paper, we intend to gain an understanding of the drivers of stock convexity, also known as gamma.
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White papersWhat’s the outlook for European asset-backed securities in 2022?
European asset-backed securities (ABS) outperformed many other areas of fixed income last year as investors were drawn by their floating rate properties and supportive fundamentals, including a resilient labour market and low arrears in underlying asset pools. But how strong is the outlook for securitisations in 2022?
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White papersSupply Chain Strain in Labor
The second paper in our supply chain series assesses the extent of labor market disruptions in two of the world’s largest economies, and we find modest near-term labor market shortages in the euro area.
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White papersSupply Chain Strain in Manufacturing
One of the most salient economic consequences of the COVID-19 pandemic has been the sharp disruption of global supply chains. The simultaneous emergence of large demand boosts and supply shortages led to sharp price increases.
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White papersPressures Continue to Build for Fed Hikes
U.S. CPI pushed the 10-year U.S. Treasury yield to 2% for the first time since the onset of COVID, and U.S. rate hike expectations increased, with markets pricing in 50% odds of a 50bps hike in March. Meanwhile, European inflation expectations are also edging higher.
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White papersSupply Chain Strain in Commodities
Cyclical commodity prices have surged amidst pressure from multiple fronts. While COVID has certainly exacerbated the typical mismatch between the timing of supply and the growth in demand, the deviation has been further strained by environmental considerations that have limited supply development.
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White papersSupply Chain Strain: Overview
Exploring how disruptions in the manufacturing, labor, and commodities markets may affect inflation and fixed-income investments.
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White papersUS vs. Europe inflation – A tale of two continents
Following the US Federal Reserve’s lead, central banks in Europe turned hawkish in the first week of February. Our inflation-linked bond specialists, however, see important differences in the outlook for inflation in the eurozone compared to the US.
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White papersAre Markets Signaling a Slowdown?
We see no sign of impending recession in calm credit markets, and in our view the flattening Treasury curve likely has more to do with the market’s failure to recognize growing structural inflationary forces.
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White papersWhy US Rate Rises Highlight European Fixed-Income Opportunities
Recently, euro-based investors have been able to access higher-yielding US dollar bond markets while hedging their currency risk at low cost. Now, interest rates are set to rise in the US—and we think it’s time for US dollar investors to consider opportunities in euro fixed-income markets.
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White papersBank of England Races to Catch up to Inflation
Central banks around the world, including the US Federal Reserve, have turned more hawkish lately—pivoting from supporting a COVID-ravaged economy to fighting stubbornly high inflation. The Bank of England (BoE) continued that trend at its February meeting.
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White papersFinancing economic growth with private debt
Listed assets no longer suffice to build an investment portfolio. Private debt is becoming central to allocations.
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White papersCross Asset Investment Strategy - February 2022
Recent sharp increase in nominal and real yields has been reflected in strong movements in equity markets, causing a rotation out of growth into value stocks. We think the uncertainty (Covid, geopolitics) would continue as markets assess the path of inflation, economic growth and monetary policy.
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White papersRussia-Ukraine tensions: geopolitical risk adds volatility to risk assets
Geopolitical dimension of the crisis: tensions stand at their highest point in years, after Moscow deployed 100,000 troops to its border with the Ukraine’s Donbas region. The geopolitical risk between Russia and the West remains deadlocked since Russia’s 2014 annexation of Ukraine’s Crimea peninsula and the consequent Western sanctions to Russia.
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PodcastEM Debt in 2022: China, COVID & Central Banks
What lies ahead for EM debt markets in 2022? Risks include higher rates and inflation as well as uncertainties surrounding China and the path of the pandemic. But with defaults still low and spreads wide by historical standards, opportunities look likely to arise.
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White papersUntapped potential: Harnessing the full power of bondholder engagement
Investor influence has long been confined to that of equity shareholders. Yet bondholders wield a lot of power. Can they harness it for positive change?
