All Fixed Income articles – Page 97
-
White papersOn the Road to Japanification
Sentiment around monetary policy, fiscal policy and a host of other factors can swing markets, but can anything return us to sustained growth and inflation?
-
White papersSustainability-linked bonds get the green light
The European Central Bank (ECB) announced its support for sustainability-linked bonds (SLBs) this week. While it is early days for the sustainable-bond market, the statement demonstrates the central bank’s commitment to tackling the climate crisis and the role it can play in helping companies to decarbonise their activities.
-
White papersEconomic Outlook: Will the debt matter?
In his latest quarterly Economic Outlook, Neil Williams, Senior Economic Adviser to the International business of Federated Hermes examines the impact that various pandemic-related stimulus packages have had on both global government debt and the efficacy of monetary and fiscal tools available to policy-makers.
-
White papersThe Crisis No One is Talking About
The migration patterns stemming from Venezuela’s economic collapse provide key ESG insights, especially for Colombia and other neighboring countries, and particularly when compared to the case of Syrian refugees in Turkey.
-
White papersWeathering the storm with infrastructure debt
Investors looking to invest in assets that can stand the test of economic gyrations and come through crises such as the COVID-19 pandemic can find hope in the solidity of infrastructure debt – financial instruments used to fund projects involving large tangible assets such as power plants and roads, argues Karen Azoulay, head of infrastructure debt.
-
White papersOpportunities today in middle market lending
Institutional investors are struggling to deliver yield, drive growth and meet liabilities amid low rates and economic malaise. Private credit can be an effective alternative source of income, while providing true diversification. This paper considers a range of investment factors as we determine how to incorporate these opportunities into an existing asset allocation strategy.
-
White papersThe Evolving Opportunity in Distressed Debt
As the pandemic recedes, some companies may have a harder time managing higher debt levels than others—and as weaker issuers undergo restructurings or other stressed situations, there may be opportunities for investors to deploy more capital into distressed debt strategies.
-
White papersSpotlight on private credit markets
In periods of market disruption, private market activity tends to get adversely impacted, the degree to which depends on the severity and length of time the public market disruption lasts. Private market deals tend to take a number of weeks or months to structure, and it is the ability to structure a deal to offer a premium to public markets that becomes more difficult due to fast- changing markets.
-
White papersMarket Perspectives: Covid paralysis recedes as political risk rises
Even after the large risk rally in summer and despite the persistent spreading of Covid-19, equities advanced fast in August (MSCI World up by another 6.6%), helped by recovering data, better-than-expected earnings and vaccine hopes.
-
White papersThree Reasons for EM Short Duration Debt
Emerging markets debt has shown much resilience despite facing its share of pandemic-induced difficulties. A short-dated approach, in particular, can provide an opportunity to pick up incremental yield and diversification, with less volatility.
-
White papersThematics: Eurozone government bonds, a supportive mix of remarkable funding progress and ECB QE still to come
Funding progress looked quite encouraging at July end for Eurozone government bonds, as roughly 80% of estimated yearly net issuance have been placed, mostly (more than 50%) in just four months, between April and July. Putting remaining supply in perspectives with ECB flows, the technical picture for EZ government bonds looks friendly to the current environment of low core yields and subsequent, persisting search for carry.
-
White papersMarket Conditions and Opportunities in Private Credit
Matthew Bird, Managing Director for our Private Debt team, provides an update on how the Private Debt markets are managing through the COVID-19 crisis, how the team has been managing portfolios since March, and what investors could anticipate in the months ahead.
-
White papers2020 US Election: What the Polls Could Mean for Policy and Markets
The field is set for the 2020 US presidential election, and markets are turning their focus to November’s contest. Of course, we can’t predict the electoral result for the presidency or Congress, and even the market’s reaction is unclear. However, given the stakes of this election, investors would be well advised to track a few key themes.
-
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 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?
