All Fixed Income articles – Page 7
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White papers
The disintermediation of lending: Private debt shines bright
In the realm of alternative assets, private debt has emerged as shining star, experiencing a rapid evolution and now basking in what many are calling a golden moment. Amid rising interest rates, private debt has remained remarkably resilient, delivering robust returns, and attracting fervent investor interest. However, some questions are emerging about how resilient private debt will be in future as well as where the best opportunities now lie, particularly as syndicated loan and high-yield bond markets rally.
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White papers
Re-Emerging Markets
After two years of record-breaking outflows, is emerging markets debt due for a turnaround?
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Video
The Role of Private Markets in the New Regime
While market yields have risen, insurers’ book yields remain low—making it difficult to keep up with claims inflation or compete with higher-rate banking and money-market savings products.
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Video
Higher for Longer: Time to Close the Gap?
Fixed income yields remain near multi-year highs offering an opportunity for insurers to rebuild book yields, secure future investment earnings and continue to close the duration gap that opened up during the low-rate years. With short-term policy rates apparently at their peak, however, this opportunity may not last: now may be the time to lock in those longer-dated yields before they begin to retrace.
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White papers
Where are the Opportunities in Corporate Bonds Now?
Bonds are back – but with changeable forecasts for inflation, and lurking geopolitical tensions, credit selection is more important than ever for fixed income investors. We spoke to five corporate bond managers from across Generali Investments ecosystem to understand where they’re finding opportunities and avoiding pitfalls in today’s global corporate bond markets.
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White papers
ESG in Emerging Market Sovereign Debt: An Evolving Conversation
How and whether to apply ESG to emerging market sovereign debt is becoming a key question for investors. We look at the opportunities and challenges they face.
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White papers
The Case for Allocating to Emerging Market Debt
Emerging market debt (EMD) is a versatile asset class. It offers equity investors risk mitigation potential with modest return dilution. For fixed income investors willing to move out on the risk spectrum, EMD still presents a significant yield pick-up opportunity.
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White papers
Fixed income investors have the power to engage
The idea that the only way to influence companies is by voting at shareholder meetings has long passed – fixed income investors are in a unique position to drive change. Bruno Bamberger, Senior Solutions Strategist and Monique Carter, Fixed Income Solutions Expert, explain how investors can use their fixed income portfolio as a basis for creating positive change.
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White papers
Dollarisation in emerging markets
The Franklin Templeton Fixed Income team believes nations facing economic turmoil, marked by currency devaluation and hyperinflation, see dollarisation as a fast track to restoring economic equilibrium.
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White papers
Euro government bond opportunities in a rate cutting environment
With inflation decelerating overall and markets pricing in rate cuts for 2024, the environment is ripe for European government bonds to thrive, explains Mauro Valle, Head of Fixed Income at Generali Asset Management.
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White papers
High yield floating rate notes: Prospects in the next stage of the cycle
Global high yield floating rate notes delivered strong returns in 2023 during a period of heightened macroeconomic uncertainty that included double digit inflation and interest rate hikes. With 2024 well underway, inflation is returning to target levels and the prospect of slower, yet positive, economic growth has encouraged a cautious sense of optimism that a soft landing may be achieved. Here, we explore the potential prospects for this growing subset of the high yield fixed income universe as we approach the next phase of the interest rate cycle.
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White papers
When the disinflation ride gets bumpy
The spectre of inflation re-emerged at the start of this year, particularly in the US. While we are not suggesting a surge in inflation recalling the increases of 2021 and 2022, it must be said that long-awaited disinflation is unlikely to occur in a straight line. This week, Simply put investigates the roots of a mini-resurgence in price rises.
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White papers
What if the Inflation Reduction Act were repealed?
The energy transition is a polarising US political issue. For the Inflation Reduction Act (IRA), which in 2022 approved an estimated USD 670 billion to boost domestic clean-energy production and manufacturing, the November 2024 federal election will undoubtedly impact its future and the funding it provides.
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White papers
Top Three Green Bond Myths
Despite the breadth and depth that the green bond market now offers, there are still a few hardwired misconceptions about the asset class. In this piece we want to share with you our thoughts on these myths.
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White papers
Markets heed data, not Fed Speak
Strong reports have swayed expectations for rate cuts rather than the Fed’s constant blaring.
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White papers
Ready for a deluge of new high-yield issuance?
US high-yield issuers are likely to refinance their pandemic-era debt and potentially benefit from lower interest rates in the next two years. The US Federal Reserve’s pause in rate hikes, the market’s expectations of rate cuts and the increase in mergers and acquisitions may incentivize high-yield issuers to come to market sooner rather than later, according to Glenn Voyles.
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Podcast
Is it Time for Fixed Income?
Global Head of Public Assets, Martin Horne, discusses the factors shaping the outlook for fixed income markets in 2024 including interest rates, corporate fundamentals and valuations.
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White papers
Credit markets: Finding opportunities requires patience and persistence
Brandywine Global sees plenty to like in credit markets. But dexterity and patience are key to finding opportunities and avoiding risks.
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White papers
Macroeconomics, Geopolitics, and Strategy - March 2024
”European PMI data diverge not only in terms of sectors, but also in terms of countries and sub-components.”
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White papers
6 questions concerning the weakness behind US resiliency
Do you see recent US data pointing to stubborn inflation? In January we had some upside surprises, encompassing import prices, producer prices, both headline and core CPI, and the PCE deflator. We think prices were in part boosted by seasonal factors which are not fully accounted for in the usual seasonal adjustment, something that also happened last year.