All Fixed Income articles – Page 70
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White papersHigh Yield: A Strong Case for Floating Rate
While the negative shocks of late have impacted high yield markets, the asset class remains well-positioned overall—particularly loans, which can offer a degree of protection in a rising-rate environment.
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White papersEM Debt: Finding Fundamental Value in a Shifting Landscape
The current environment is challenging, but much like in the past, opportunities are beginning to arise across the EM debt landscape.
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White papersHow institutional investors can make a social impact in portfolios
The momentum around net zero investing has helped focus the minds of institutional investors on ways to tackle climate change and how to respond to the changing policy landscape. This has led to fundamental change in how pension funds and insurers view their portfolios over the longer term – leading to the steady integration of environmental risks and opportunities.
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White papersAsset Allocation Committee Outlook - 2Q 2022
Against a background of structurally higher inflation and declining growth, exacerbated by Russia’s invasion of Ukraine, the Asset Allocation Committee’s (“AAC”) views have become more risk-averse.
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White papersWhy now may be the time to buy EMD
We maintain that EMD assets currently exhibit an entry opportunity as both an undervalued and under-owned asset class, offering the dual advantage of commodity exposure, as well as a more complete policy adjustment than developed markets, with regards to upcoming inflation risks. The potential benefits of EMD include Alpha opportunities from a diversified landscape, diversification potential, and the potential for attractive risk-adjusted returns.
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White papersInvestment Grade Credit: Higher Rates Aren’t All Bad
The Russia-Ukraine conflict and rising interest rates have affected all bond markets, but opportunities remain among the investment grade universe.
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White papersHas Fear of the Fed Peaked?
As investors continue to digest the likely path of this tightening cycle, we think the dramatic moves of recent weeks are set to ease, laying a good foundation for credit investors.
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White papersHoping for the Best, Preparing for the Worst
We’ve officially embarked on a very peculiar tightening cycle—one in which inflation is at levels more associated with the peak of the hiking cycle, and not the start.
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White papersQ&A: Investing amid geopolitical uncertainty
Russia’s invasion of Ukraine has intensified focus on geopolitical risks. However, investing amid geopolitical uncertainty is not new. Seasoned portfolio managers Kirstie Spence and Victor Kohn discuss how they approach geopolitical risk in emerging markets.
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White papersHow challenging is the inflationary picture for fixed income investors?
Over the past 15 years policymakers have faced various waves of crises, beginning with the global financial crash of 2007-08. Until now, authorities could simply focus on supporting the financial system and global growth, however the re-emergence of inflation adds a significant complication for both policymakers and fixed income investors.
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White papersWill the Fed manage to restore price stability without a recession?
The Fed is determined to hike rates rapidly. In the short-term the US economy will be supported by the many cushions present in the economy, as a result of all the fiscal and monetary support provided during the Covid crisis. The Fed will be in a more difficult situation in 2023.
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White papersFixed-Income Outlook: Look to the Horizon in Stormy Seas
Russia’s war on Ukraine has shaken the world. From a massive humanitarian crisis to an energy shock to food insecurity, the ripple effects are already being felt near and far. Even if the conflict ends tomorrow, the invasion could have lasting global consequences. Amid heightened geopolitical tensions, continued volatility over the near term is the only certainty. Below are the top risks—and strategies—we think bond investors should keep in mind.
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White papersAs the Fed moves into action, bond portfolios need agility
In a world of rapidly escalating prices, Russia’s invasion of Ukraine has exacerbated inflationary pressures. We have seen a direct impact on energy and a broad swath of agricultural commodities, and are likely to see a broadening of price pressures.
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White papersThe role of fixed income
Investing in fixed income has lost its appeal for many investors in a world where inflation is overshadowing bond markets, central banks are hiking interest rates and returns look relatively uninspiring. With that in mind, now’s a perfect time to revisit the question: why invest in fixed income?
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White papersIdentifying alpha opportunities in sponsored and non-sponsored middle market direct lending
Investors often ask whether lending to private equity sponsored or non-sponsored companies offer the best risk adjusted return potential. It’s an interesting question, as each channel has distinct tradeoffs.
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VideoJane Wadia, Head of Investment Specialists on 'Engagement in fixed income'
AXA IM has managed fixed income portfolios through economic ups and downs for decades.
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White papersFloating to safety with senior AAA European asset-backed securities
Rising inflation and interest rates are eroding the value of cash and putting pressure on government and corporate bond yields. We believe investors can help towards protecting their portfolios by reallocating some of their cash holdings to potentially higher-yielding, defensive floating rate securities. Senior AAA European asset-backed securities (ABS) offer a sizeable yield premium for those willing to hold these positions for 6-12 months or longer.
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PodcastThe Investment Podcast: Weathering the inflation storm
Inflation has proved to be anything but transitory. In this episode, David Parsons and David Lloyd discuss the economic impact of an evolving inflationary environment, the implications of supply-constrained inflation feeding into policy, the varying scope for manoeuvre from central banks around the world and why patience is key.
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White papersUkrainian crisis: European banks are resilient
The Russian invasion of Ukraine should not have a material, direct adverse effect on European banks. Only a few European banks have substantive exposures to the Russia/Ukraine/Belarus space, and those exposures do not impact banks’ capacity to service their AT1 capital securities.
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White papersSenior Secured Loans: Why Now?
With further rate hikes on the horizon and volatility testing financial markets, loans are gaining traction for their potential to offer protection against both credit and interest rate risk.
