All Fixed Income articles – Page 67
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White papersInvesting at a Crossroads: Three Themes for Today’s New Challenges
As 40-year tailwinds turn to headwinds, we distill an era of sometimes bewildering change into three themes and a new investment playbook.
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White papersPortfolio construction themes in these times of inflation
Investors seeking to put this bear market behind them aren’t out of the woods yet. Hopes that inflation might peak quickly, that the U.S. Federal Reserve would pivot, and that the global economy could emerge unscathed — all have diminished.
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VideoClimate metrics in fixed income
Jane Wadia, Head of Investment Specialists on climate metrics in fixed income
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White papersWhat does ESG mean for private credit?
ESG’s impact on investor and manager behavior has changed the way we look at the world. Churchill’s Randy Schwimmer and Mickey Weatherston address what it means for private credit.
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White papersUK market turmoil points towards further volatility in global currencies
Investors’ focus is shifting from the poor growth/inflation mix to the extremely negative external balance picture in the UK. Last Friday (23/09), the government announced an additional 0.5% of GDP in unfunded tax cuts and the reaction of UK assets recalled actions we used to see only in emerging markets.
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PodcastThe Investment Podcast: What next after the summer rally in bonds and equities?
Fixed income and equity markets face being influenced by inputs from all angles, making this no market for broad macro calls.
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White papersStill No End In Sight
The hawks fluttered their wings this week, leading yields to rise, equities to fall, and markets to reprice rate expectations. The BoE is more concerned about growth, while the Fed has a singular focus on inflation. China and Japan remain accommodative, watching PMIs next week.
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White papersMaking Up Lost Ground
Another 75bps and more hawkish talk from Jerome Powell. Markets reacted swiftly to signals that more large increases are coming—more than they had priced in. See how this frontloading by central banks aligns with our central scenarios and expectations for the coming year.
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White papersFrontloading
The global economy remained largely resilient in the first half of 2022, despite war in Eastern Europe, commodity shortages, and inflation. However, this is leading most major central banks to turn increasingly hawkish and frontload rate hikes which should weigh on growth.
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White papersHold the Inflation Victory Lap
Inflation still appears to be the biggest source of potential volatility in the market, and we think that’s because it will remain the dominant economic story for the foreseeable future.
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White papersYou Will Remember The 21st Day of September
Data and expectations continue to drive markets, which have priced in a 75bp hike from the FOMC, though some foresee more; expect 50bps from the BoE given concerns about inflation and energy prices. In China, mounting worries about growth and weak trade are elevating concerns.
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White papersInnovation in ESG municipal bond investing
Nuveen developed an proprietary leading ESG scoring methodology that identifies municipal issuers that are ESG leaders relative to their peers. Using a comprehensive approach, Nuveen seeks to helps clients achieve the investment benefits of municipal fixed income while aligning with their values and helping to provide positive outcomes for our communities.
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White papersCan U.S. midterm elections move the market? 5 charts to watch
In a year when soaring inflation, the war in Ukraine and a bear market have commanded headlines, the U.S. midterm elections risked becoming an afterthought. But now the election is coming back into focus. And with good reason.
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White papersPrivate debt prepares to ride out the storm
Churchill’s Jason Strife participates in a Private Debt Investor roundtable discussion with other leaders in the U.S. private debt industry.
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White papersThe Bull Case for Next Year: It Won’t be Worse Than This Year
It’s not a pretty outlook, but it’s important to keep thinking at least one or two moves ahead.
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White papersECB meeting: bold rate hike; watch out for more to come
What is your take on the September ECB meeting and what could the next steps be?
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White papersReassessing the view on Europe: hot questions for investors
Is stagflation a highly likely scenario, or will the European economy enter a recession this year? How will governments respond?
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White papersMacroeconomic Picture - September 2022
United States: The H1 contraction will be followed by a protracted period of sub-par growth, but the ongoing deceleration is so far not yet due to Fed tightening; cracks are appearing in an apparently strong labour market, and we expect the lack of productivity to cause a labour market correction.
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White papersMarket Scenarios and Risks - September 2022
We have reviewed the content and probabilities of our scenarios. First of all, we have included in our central scenario some of the risks that are materialising (e.g. stagflation in Europe) and that were previously included in our downside scenario.
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White papersRational inattention at the core of central bank strategy
The origins of inflation are not always well understood. While some economists had warned of impending inflation as early as last year, few had anticipated the dramatic shift in spending from services to goods and the effects of such a shift. The fact that inflation expectations remain subdued is likely due to rational inattention. In the absence of monetary tightening, we believe that inflation expectations would inevitably get de-anchored.
