All Fixed Income articles – Page 68
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White papersMunicipal bond sectors: resilient in times of uncertainty
Many investors are concerned about the potential for a prolonged economic downturn. If that were to happen, municipal credit should show resilience, due to unprecedented federal pandemic stimulus support, strong reserves and revenue collections, and the ability to adjust budgets.
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White papersPortfolio Diversification Is Key To Weathering the Storm
In this Q&A, Ian Fowler discusses the benefits diversification and warns against an over-reliance on upper mid-market deals.
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White papersCross Asset Investment Strategy - September 2022
While a global recession may be avoided, we are likely to see growth deceleration and high inflation (higher cost of living) along with regional divergences. Thus, investors should consider moving to a more cautious stance on equities particularly in Europe, but retain preference for US and for China, although to a lower extent on China.
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White papersGet real with income-producing real assets
We have seen demand for real assets grow dramatically in recent years, and we expect it will advance further as investors better understand the positive attributes of the asset class. Real assets offer the opportunity for diversification, inflation hedging and competitive total returns. Real assets may also serve as a nontraditional source of income, a feature that investors frequently overlook.
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White papersRising yields put bond markets back on a road to normal
Rising inflation and slowing global growth are two dominant themes casting a pall over the current market environment. With increasing geopolitical uncertainty, tightening monetary policy, supply chain challenges and higher commodity prices at play, a period of global stagflation could potentially be on the horizon.
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PodcastHigh Yield: When Volatility Creates Opportunity
Investors are back at their desks and volatility has returned with them. How can they navigate an environment characterized by rising rates and decades-high inflation? Scott Roth and Adrienne Butler answer this question and more in the latest episode of Streaming Income.
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White papersHawks Are Gaining Speed
Here come the rate hikes. The upward surprise in euro area inflation and Jay Powell’s speech in Jackson Hole confirmed the ECB and Fed are both likely looking at 75bp hikes this month, and markets increased expectations as a result. Meanwhile, China reacts to new lockdown measures.
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White papersAre we entering the zone of oversold credit?
With the Aperture Investors SICAV - Credit Opportunities Fund reaching its three year anniversary this August, Simon Thorp looks ahead and explains why long credit stands out in the current environment.
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White papersThe impact of credit risk for pension plans engaging with CDI
Cashflow-driven investing (CDI) has gained significant traction in recent years as pension plans have successfully de-risked and strengthened their balance sheets over the last decade. Increasing numbers of plans are able to allocate significant proportions (potentially all of their assets) to fixed income like assets so that cashflow income closely matches expected liability payment, thus providing a simpler hedge and reducing the complexity of portfolios. Investment products, strategies and asset classes have developed to facilitate this approach.
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White papersMarkets Testing Central Bank Resolve
Despite hawkish comments by Fed officials this week, markets continue to price in a more dovish path for rates. The BoE hiked 50bps and downgraded its economic outlook, calling for a U.K. recession in Q4. Eyes will be on U.S. CPI next week to gauge whether inflation is peaking.
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White papersEmerging market debt: Looking for opportunities in challenging circumstances
Persistently high global inflation has forced the world’s leading central banks to start tightening monetary policy. However, the prices of many of the most vulnerable emerging market bond issuers are now quoted close to – and in some cases lower – than their expected recovery value.
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White papersMulti-asset investing in times of volatility
2022 has been one of the most volatile periods in recent years for global equity and fixed income markets. The outbreak of the war in Ukraine, global supply chain disruptions, global inflationary pressures, less accommodative central banks and COVID-19 restrictions in China have all weighed on investor sentiment.
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White papersAsset Class Returns Forecasts - Q3 2022
A combination of sustained inflation and mounting recession fears, interlinked with the geopolitical situation, are the main drivers affecting the current and forward-looking macro environments. The bulk of the uncertainty is in the short to medium term.
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White papersData Delivers Mixed Messages Amid Slowdown
Mixed data is fueling debate about underlying economic strength and recession odds. Meanwhile, markets this week await Powell’s speech at Jackson Hole. Elsewhere, Chinese policymakers took steps to address rising risks to the outlook. Eyes will be on Nord Stream 1 next week.
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White papersGeopolitics vs. the race to net zero
The Ukraine crisis is a horrendous tragedy and the war will have a considerable impact on the European and global economy. It has brought sharply into focus the fragility of supply chains and energy security - which has manifested in runaway inflation.
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White papersSeven reasons why the time is right to buy EMD
Investors should be grasping at the unprecedented opportunity presented by emerging market debt.
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White papersThe sleeping giant: Unlocking sustainable finance
Many banks are failing to realise their impact potential, thus missing out on commercial opportunity in the real economy
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White papersFixed Income Perspectives - July 2022
The combination of persistently high inflation, aggressive central banks and tightening financial conditions is weighing on financial markets and global growth outlooks. While valuations across many sectors look compelling after the market sell-off this year, we are exercising caution given greater uncertainty and elevated recession risk.
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White papersGlobal Macro Outlook - Third Quarter 2022
The global economic outlook deteriorated sharply in the second quarter and markets are increasingly concerned that higher rates will lead to a recession. This outcome isn’t a certainty, but the probability of slower or negative growth has increased materially as inflation has stayed high.
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VideoIs Now the Time to Buy Loans?
Chris Sawyer, Head of European High Yield, provides an overview of the current conditions in the global loan market and explains why now may prove to be a particularly attractive time to deploy capital into the asset class.
