All Government Bonds articles
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White papersCross Asset Investment Strategy - October 2026
Topic of the Month - US midterm elections: fiscal gridlock on the horizon?
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White papersWill markets remain resilient with yields above 5%?
Ten-year Treasury yields moved above 5% on 15 September, just ahead of the Fed hike, and have stayed there, reaching 5.3% on 5 October. That is the highest level in almost 25 years. Yet equity markets have remained resilient, with the S&P 500 and the Nasdaq setting new highs. So, the key question is not just where yields go next, but what is driving them and how they will impact markets.
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White papersCore Matters: 5-year returns forecasts - The return of carry
Global stocks look like they will enjoy another above-10% gain in 2026, for the fourth year in a row; at +13% year-to-date, the MSCI World has been less brilliant than in the past three years (respectively +22%, +18% and +22%), but that still caps an exceptional decade that will have seen the total return index more than triple.
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White papersLDI Fixed Income Outlook: Where are the new safe havens?
Despite the bond market sell-off, there is no reason for hasty decision-making, says Sebastiano Chiodino, Head of Liability-Driven Investing (LDI) Fixed Income at Generali Asset Management S.p.A.,* as strong corporate fundamentals and interest-rate volatility continue to create opportunities for long-term, active investors.
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White papersStrategy Outlook: Unified Global Alternatives - Hedge Funds Fourth Quarter 2026
As we enter Q4, AI continues to drive economic growth, market leadership and political debate. While productivity gains from AI are widely anticipated, their scale and timing remain difficult to quantify. The near-term impact on labor appears broadly positive for now, with skilled engineers and IT developers in high demand as companies build infrastructure and integrate AI into their operations.
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White papersLong-term yields at high levels
Government bond yields across major developed economies have risen to levels not seen in years. The move has been accompanied by increased volatility, as markets have become more sensitive to macroeconomic data and policy expectations. US 10-year yields reached their highest level since 2002 before easing, as oil prices fell and following a well-received bond auction.
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White papersWhat Higher Interest Rates Are Telling Insurance Investors
For insurance investors, bond yields play a defining role in long-term planning, with the effects of their levels and movements rippling across balance sheets. Liabilities may move inversely to asset values, and today’s investment decisions have implications far into the future. That makes bond yields critical variables for prudent insurance investors. There are also insights in the “why” behind higher rates.
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White papersMarkets weigh rising yields and AI exuberance
Market volatility has increased in recent weeks, particularly in bond markets. The MOVE index, a measure of expected volatility in US Treasuries, has been rising significantly, decoupling from the VIX equity volatility indicator in an unusual move. This is significantly different from the March volatility spike that affected both markets at the start of the Iran war.
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White papersHow fixed income investors can potentially capitalise on Europe’s strategic autonomy
The geopolitical landscape has undergone a significant shift in recent years, with global cooperation and multilateralism giving way to a more fragmented world.
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White papersGlobal Investment Views - October 2026
In September, global bond markets came under pressure amid inflation concerns and hawkish shifts by central banks, while equity markets remained relatively calm, supported by strong economic data and earnings, alongside renewed optimism around AI.
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White papersAn Invidious Choice? Towards Bond Market Crisis or Yield Curve Control
The yields on long bonds have risen to multi-decade highs. Debt sustainability fears have festered for years but to no tangible effect—either on investment portfolios or political debate. The most likely route is that the “can is kicked” on both debates; after all, >2% real yields will be tempting to many investors.
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White papersFixed-Income Outlook: Four Ways to Capitalize on Dispersion
Fixed-income investors are being paid more to take risk than they have been in years, but not all opportunities are created equal. Higher yield levels, heightened volatility and growing differences across countries, sectors, industries and issuers are expanding the opportunity set. Dispersion is the raw material from which active returns are generated. Below are four ways investors can capitalize on it.
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White papersInvestment View for Q4: Liquidity is confidence
‘Investment View’ provides our quarterly macro & market outlook and investment recommendations
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PodcastEurope’s path to strategic autonomy opens new opportunities for bond investors
Europe is entering a pivotal era of strategic autonomy, seeking to build resilience across critical sectors such as defence, energy, communications, and technology in response to a more fragmented geopolitical landscape.
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White papersThe road ahead for central banks
In a low-trust world that is becoming increasingly predatory, investors should expect supply shocks to become a new norm and the distribution of economic gains to stay uneven. Another result of the global order fragmenting is the rise of fiercer competition between countries. However, this competition is no longer limited to trade, tech, industrial leadership or energy security; it is instead being shaped by a relentless search for capital at the public and private level.
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White papersWhen Capital Is No Longer Free: Rising U.S. Treasury Yields and the Repricing of Global Assets
The level of U.S. federal debt is frequently cited as evidence of an approaching fiscal crisis, but I think that conclusion is too simplistic. Yes, a publicly held debt load of around 101% of GDP1 is historically high and clearly warrants attention, but I do not believe the level itself is necessarily problematic.
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White papersCommercial real estate under higher inflation and interest rates
Why the interaction between inflation and real rates matters more than either variable alone
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White papersGlobal yields surge
“We are in a regime of higher yields for longer across the globe. Bond volatility is likely to stay higher than in the past decade, but yields are becoming increasingly attractive.”
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White papersRedrawing the map of sovereign investing
For much of the past two decades, the case for developed market government bonds at the centre of fixed income portfolios rested on three assumptions: inflation would remain contained, central banks would provide a dependable source of demand, and rising sovereign debt would be readily absorbed. Each now looks less secure.
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White papersBonds: Normal for Longer
One of the most common phrases in markets over the past three years has been “higher for longer.” The phrase implies that today’s bond yields are unusually elevated. We think this framing misses a more important point.
