All Government Bonds articles – Page 6
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White papers
European leveraged loans: Defensive against rising rates and uncertainty?
2022 represented the end of the more than decade-long bull run and the impact for European loans was a dislocation to yields of c.10%. For long-term investors, we believe this provides an interesting investment opportunity for a senior secured defensive asset class with typically higher risk-adjusted returns than comparable credit risk asset classes.
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Blog
Beyond the Muni Bond Bounce
Early 2023 has brought a more favorable backdrop for municipal bonds, prompting investors to consider whether the market rally is sustainable or just a bear market bounce.
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White papers
What is a CLO?
CLOs provide an efficient, scalable way of investing in floating-rate loans while offering structural protection that has historically performed well through multiple credit cycles.
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White papers
Firmer foundations for China’s property market in 2023
The Chinese property sector has been in the headlines over the past year, and not for the right reasons.
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White papers
Macro Insights: Outlook for bonds brighter even as growth concerns linger
Markets rebounded in the fourth quarter of 2022, closing a year marked by high volatility as the US Federal Reserve (Fed) reset its monetary policy path.
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White papers
Fixed income rebounds on expectations inflation has peaked
As central banks moderate the pace of hikes and downturn concerns take the shine off riskier assets, bonds have seen renewed interest from investors.
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White papers
Gilts: Testing market appetite for UK Government debt
The Gilt market is bigger than it has ever been – and more volatile than it has been in decades, which throws up interesting and exciting opportunities.
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White papers
Brasília riots add to investor caution over Brazil
Financial markets have been relatively unmoved by storming of capital by supporters of outgoing president but the deep divisions the attacks highlighted remain a concern.
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White papers
Asset Allocation Committee Outlook: 1Q 2023
Neuberger Berman’s Asset Allocation Committee meets every quarter to poll its members on their outlook for the next 12 months on each of the asset classes noted and, through debate and discussion, to refine our market outlook. The panel covers the gamut of investments and markets, bringing together diverse industry knowledge, with an average of 30 years of experience.
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White papers
An improved toolbox to manage volatility and provide income
Concerns around inflation have driven core government bond yields upwards to levels not seen for more than a decade
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Blog
Yield is Destiny; Bonds are Back
Bond investors shouldn’t lose sight of the fact 2022’s historic increase in bond yields could lead to bond returns in the next decade that are two to three times higher than the prior decade.
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White papers
2023 US muni bond outlook: A rough year in muni markets, yet reasons for optimism
While 2022 was a challenging year for the muni-bond market, 2023 is setting up for more positive momentum, according to Franklin Templeton Fixed Income Municipal Bond Director Ben Barber. Read the team’s views on the year ahead.
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White papers
Asset Class Returns Forecasts - Q4 2022
We reiterate the main driver affecting the current and forward-looking macro environments is a combination of sustained inflation, mounting recession fears and geopolitical developments. Price stability has become the paramount goal and even more complicated to reach, therefore CBs will make sure high inflation will not be entrenched in economic agents’ long-term expectations.
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White papers
Bonds that build back better
Some might argue that building a sustainable economy is a technological problem. It isn’t. The world is sufficiently stocked with greenhouse gas-reducing technologies such as renewable fuels, carbon capture and energy storage. What it lacks is capital.
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White papers
Tighter Conditions Begin to Squeeze the Economy
As the economy slows, an epic climb in short-dated rates and bond yields appears to have shocked investors into accepting the prospect of stickier inflation, but they still seem reluctant to price for substantially lower earnings.
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White papers
Fixed Income Investment Outlook: 4Q 2022
Despite volatility, the basic storyline of inflation and the Federal Reserve should continue to drive market behavior. Over the months ahead, we anticipate continued tightening by the Fed and challenging European growth trends, with tail risks tied to the U.K., China weakness and policy overreach. A focus on shorter durations and quality, with opportunistic exposure to longer bonds and credit, merits consideration.
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White papers
TLTRO in the context of ECB policy normalisation
TLTRO repayments and redemptions will drive incoming ECB passive QT over the next few quarters. So far, banks have repaid a small amount of liquidity, while the ECB’s recent decision on remuneration of excess reserves has helped keep current excess liquidity abundant, aiming at a smooth transmission of its monetary policy.
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White papers
The Nominal and the Real
What might be the playbook for a potential recession in which nominal GDP grows by 8%—and are investors only just recognizing that they need one?
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White papers
Climate Transition: A World of Compromises (Part II)
Raise your eyes on the horizon—beyond the immediate central bank challenges, the lingering impact of COVID, and the humanitarian crisis in Ukraine—to consider three key climate-related issues that investors will wish they had known about 10 years from now.