All Fixed Income articles – Page 82
-
White papersPushing on an Open Door – Covid 19 is Intensifying Long Term Macro Trends
The COVID-19 pandemic has had historic—and nearly immediate—repercussions for society, the global economy and policy. The aftereffects will last for many years, reinforcing long-term trends including deglobalization, populism and mounting debt. How will governments tackle the debt overhang—and how do these trends impact our macro views?
-
White papersCoronavirus throws down a challenge for credit analysis
The dramatic impact of COVID-19 has created a challenge for even the most experienced credit analysts. The effects have gone far beyond those seen in the technology bubble of the early 2000s, the Enron scandal a year later, the 2008/2009 financial crisis, and in what now seems like a small blip the commodity crash of 2015/2016.
-
White papersItaly’s Bank Tax: It’s Hard to Please Everyone All of the Time
The Italian government’s unexpected announcement raises doubts in investors’ minds about their market friendliness and about Italian banks’ vulnerability to future political meddling.
-
White papersSDG Engagement High Yield Credit: H1 2020 Report
Seeking twin objectives of strong financial performance and positive social and environmental impacts that contribute to achieving the 17 Sustainable Development Goals (SDGs), we launched SDG Engagement High Yield Credit in October 2019.
-
White papersPushing on an Open Door: COVID-19 is Intensifying Long-term Macro Trends…Especially Debt Overhangs
The COVID-19 pandemic has had historic—and nearly immediate—repercussions for society, the global economy and policy. The aftereffects will last for many years, reinforcing long-term trends including deglobalization, populism and mounting debt.
-
White papersQuarantined From Market Risk?
We look at whether “uncorrelated strategies” lived up to their label through the COVID-19 crisis.
-
White papersSeparating the wheat from the chaff in fixed income
Like most things in life, investing has its ups and downs. Prudent investors, especially those worried about losing money, but also people who prefer stability to volatility, often choose to invest in bonds – lending money to companies, governments and other entities for, hopefully, a consistent return.
-
Asset Manager NewsWelcome to a new high yield universe
The prevalence of ‘fallen angels’ has changed the composition of the European HY market. So how might we go about navigating it?
-
White papersCredit investing in the coronavirus era: 360°, Q3 2020 - July 2020
What is our current view of fixed-income markets? And where do we see the best relative value? In our latest edition of 360°, Andrew ‘Jacko’ Jackson, Head of Fixed Income, and his team of specialist investors considers the areas that have the potential to deliver superior risk-adjusted returns.
-
White papersFiorino: why bank debt investors should care about MDA
In this post of Fiorino, the blog where we aim to decipher complexity in global financials, we give our full attention to a typically complicated capital metric that investors need keep top of mind.
-
White papersActive management to find yield in fixed income
Unprecedented monetary and fiscal measures by central banks and governments have installed a low-yield/low-volatility regime in developed bond markets. As investors search hard for yield, senior investment strategist Daniel Morris discusses the prospects for fixed income markets with Dominick DeAlto, chief investment officer fixed income.
-
White papersInvestor Series: Private Assets for Insurers
Insurance investors face unique challenges in any environment but especially against today’s backdrop of continued low rates and a global economic slowdown. Barings’ Ann Bryant and Eric Lloyd discuss strategies for incorporating private assets as part of the solution.
-
White papersHow Long Can This Go On?
U.S. government debts may set new records, but investors should focus more on borrowing costs and growth rates.
-
White papersResidential mortgages and consumer loans
In this paper, we focus on the case for investing in pools of residential mortgages and consumer whole loans and explore the specific benefits available to insurers making a strategic allocation to the asset class over the long term. We also demonstrate how adding residential mortgages to an investment portfolio could help insurers achieve additional portfolio-level diversification benefits and lower the overall solvency capital requirement (SCR) under the Solvency II standard formula.
-
White papersInflation hawks, crying wolf
Part 3 of our series exploring the potential source of the next global crisis
-
White papersThe Changing Path to Credit Opportunities
Aggressive fiscal and monetary actions combined with better-than-expected news on the economic recovery have contributed to a narrowing of credit spreads, while central banks now appear committed to zero (or negative) rates for the foreseeable future.
-
White papersHigh Yield: Liquidity Abounds, But What Lies Ahead?
Ample liquidity from central banks has driven a significant recovery across markets, including high yield. But with much uncertainty still ahead, we see benefits to moving up the capital structure and considering secured assets.
-
White papersEMD: Further Room to Run?
Emerging markets debt rallied strongly in the second quarter—and while risks remain ever-present, the asset class may benefit from continued monetary stimulus and the potential for a sharper economic bounce-back in the second half of the year.
-
White papersCLOs: Looking Down the Road to Recovery
CLOs rallied in the second quarter as liquidity returned and supply/demand dynamics began to normalize. While opportunities have emerged—particularly in high-rated tranches and new issue BBs—active management is key.
-
White papersInvestment Grade Credit: Whatever It Takes
After the historic rollercoaster ride IG credit took in the first quarter, U.S. policymakers seem to have won the day, at least for now—with their own version of the phrase made famous by former ECB President Mario Draghi: Whatever it takes.
