All Fixed Income articles – Page 66
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White papers
When “Transitory” Becomes a “Swear Word”
The debate rages on around how best to describe current inflationary pressures, but some synonym for “not lasting” still fits best.
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White papers
IG Credit: Higher Rates on the Horizon
With rate hikes potentially on the horizon, and spreads fairly tight, there may be benefits to a multi credit strategy that looks beyond traditional IG corporate credit—to areas such as EM corporate debt and CLOs.
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White papers
CLOs: Supply/Demand Dynamics Driving Opportunities
As heavy supply creates bottlenecks for investors and dealers, refinancing and reset transactions continue to look attractive, particularly BB tranches.
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White papers
High Yield: Still Strong, Despite Market Jitters
Bouts of short-term volatility are almost a given going forward—but in our view, much of the recent market concern overlooks how strong the average high yield company is today.
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White papers
From Rates, to Growth, to China: What’s Next for EM Debt?
While volatility resurfaced in the third quarter, there are a number of positive factors that continue to support EM sovereign, corporate and local debt.
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White papers
SDG Engagement High Yield Credit commentary: Millicom
Millicom is a telecommunications service provider that delivers mobile, fixed-line broadband and pay-for TV services to businesses and households in nine Latin American countries.
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White papers
Investment Insights - Closing the funding and income gap
In this current low-yield environment, how can UK defined pension schemes position their portfolios to improve funding levels and cashflows as they continue de-risking?
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White papers
Higher rates provide a second chance to play US value opportunities
Nowadays, US value trades at its steepest discount to growth since 1999. However, declining Covid-19 cases, a broad-based economic recovery, prospects of higher interest rates as we progress out of the pandemic, and the return of persistent inflation pressures should help close the valuation gap between growth and value stocks.
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White papers
Europe: 6 reasons for higher inflation and faster growth
Against the spectre of soaring energy prices, labour shortages and supply chain constraints, a question that has arisen in the US has landed firmly on European shores: will inflation continue to rise and how persistent will it be?
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White papers
An Update on Our ESG Scores
ESG scores continue to be impacted by COVID-19 as economies look to emerge from the pandemic through green and sustainable investing. Global Macro Views highlights five country case studies.
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White papers
Caution Today, Opportunity Tomorrow
We think a more cautious stance represents a prudent approach to an already volatile inflection point between early-cycle recovery and mid-cycle expansion.
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White papers
The Inflation Generation
Temporary price spikes over the past 20 or 30 years have all passed without sparking a general rise in inflation, but here are four reasons why we think this time is different.
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White papers
Fixed Income Investment Outlook 4Q 2021
A potential default in China and shifting policy in Europe have been key developments in an environment of volatility and higher yields that is likely to persist into the fourth quarter.
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White papers
Congress Sets New Deadline, So Do Markets
A general sense of risk-off dominated early in the week as markets faced a “wall of worry.” Lingering concerns over China regulations, stalemates over raising the U.S. debt ceiling, and the stunning spike and volatility surrounding energy prices all weighed on market sentiment.
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Research Report
Thematic equities as an alternative to fully diversified equity portfolios
Thematic equity strategies can also serve as alternative to – or replacements for - global equity portfolios that invest across industry sectors.
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White papers
Fixed Income Views: Persistent, the New Transitory
As the global macro environment continues an improving trend, its beneficial impact may be unevenly distributed. Franklin Templeton Fixed Income Views explores the implications for fixed income investors.
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White papers
Fixed Income markets: what will be key?
Eurozone and US sovereign bond markets have partially reversed the decline recorded over the summer. The decline in yields was driven by global growth concerns and abundant liquidity. How can fixed-income investors position themselves today?
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Research Report
SDG Engagement High Yield Credit: H1 2021 report
Our focus on higher-quality credit in markets with strong engagement potential meant we didn’t benefit from the outsized rally in Covid-ravaged sectors in H1 2021, but the strategy continues to outperform its benchmark since inception
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White papers
Shifts & Narratives #9 - Adapting equity portfolios to a regime of higher inflation
The return of inflation is clearly one of the top themes of 2021 and the post-pandemic economic revival. In addition to the temporary effects associated with supply chain bottlenecks (semiconductors, energy, copper, etc.) during a sudden upturn, there is the question of a potential change in the inflation regime.
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Podcast
High Yield: Why Fundamentals May Be Stronger Than You Think
Barings’ David Mihalick and Chris Sawyer assess the health of the global high yield bond and loan markets against a backdrop of COVID uncertainty, potentially higher rates and an ever-increasing focus on ESG.