All Government Bonds articles – Page 6
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White papersHarnessing the power of duration in global bond portfolios
Following the rise of global interest rates on the back of much higher inflation over the last few years, investors are now focusing on the expectation for lower official rates, as the tightening of financial conditions has spurred on central banks to start loosening monetary policy.
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White papersGreater efficiencies drive bond trading revolution
Bond trading capabilities have come a long way, especially in term of speed and scale. This is primarily down to two factors: the way fixed income dealing has evolved - through technical advancement and the onset of automation - and how bonds have matured and evolved as an asset class.
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White papersBuried Treasuries
Why U.S. government bonds had a scare, what calmed them down, and what all that suggests for the next few months.
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White papersFixed income at the crossroads of trade and trust
Trade tensions and shifting alliances are shaking investor confidence in 2025. This article explores how fixed income markets are navigating the dual challenges of inflation and geopolitical uncertainty, with a focus on the evolving role of U.S. Treasurys as a global safe haven.
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White papersDebt divergence: Investors stand at the crossroads
The world is facing a US$250 trillion problem. While government debt is an important tool to generate economic growth and ensure the day-to-day functioning of a country, how long can debt levels rise before the road runs out?
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White papersExpecting the unexpected with more robust bond portfolios
2025 was widely expected to be a good year for bonds. The US economy seemed to have found a floor, inflation looked to be contained, and interest rates had a long way to fall. The combination of high yields and capital appreciation from falling rates was, if a bit simplistic, a reason to be excited about the outlook for compelling total returns. But 2025 is looking increasingly like it will be anything but simple, writes Olivier De Larouziere.
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White papersCentral banks on hold as uncertainty mounts
The US Fed kept interest rates unchanged in the 4.25-4.50% range at its March policy meeting. Citing risks around elevated uncertainty from trade policies, the Fed prefers to wait and see given that the uncertainty is “remarkably high”.
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WebinarFixed income investment playbook for 2025
Potential policy changes from the new US administration have raised uncertainty in the outlook for bond markets. Watch two of our senior fixed income portfolio managers, Pramod Atluri and Damien McCann, make sense of the rapidly shifting landscape.
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PodcastOuterblue Talks Research - US fixed income - Early pain, later gain?
Less than 2 months back in the White House, US president Donald Trump has packed in a great deal; Shifts in policy, tariffs, federal employment, not to mention a huge change in approach to foreign policy. This month, Swaha Pattanaik sits down with Jonathan Duensing, Head of Fixed Income at Amundi US, and Mahmood Pradhan, Head of Global Macro with the Amundi Investment Institute, to try to guide us through the present uncertainty in the markets.
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White papersRethinking the Stock-Bond Correlation
The correlation between stocks and bonds has been a prominent topic of discussion over the past 5 years, particularly due to the resurgence of inflation risks. Many portfolio managers, who had long assumed that the stock-bond correlation was negative, were surprised when this relationship turned strongly positive in the aftermath of the COVID-19 crisis. This article examines the stock-bond correlation from both a theoretical and an empirical perspective.
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White papersTariffs and European news fuel volatility
“Rising concerns for US growth amid high policy uncertainty have triggered a strong rotation outside of the US mega caps.”
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White papersGerman fiscal expansion – Whatever it takes!
On 4 March, Friedrich Merz, Germany’s chancellor-in-waiting, proposed a constitutional amendment that would pave the way for an extensive programme to boost defence spending and overhaul German infrastructure. By employing, in English, the phrase “whatever-it-takes”, Merz made sure there was no doubt about the scale of his intentions.
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White papersBond markets in focus amid growth concerns
“With tariff uncertainty affecting market expectations and consumer confidence, bonds are back as a key diversification* engine for global investors.”
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VideoThe state of fixed income in 2025
Michael Goosay - Chief Investment Officer, Global Fixed Income
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White papers2025 Emerging market debt outlook: Stick to income and relative value in a disruptive year
As 2024 is now behind us, we are reflecting on a year of political and geopolitical upheaval which culminated in the election of Donald Trump in the U.S., whose disruptive agenda hangs over emerging market (EM) investors’ heads. In this outlook, we flesh out our current view of the world, as seen from an EM lens, and highlight a few key investment themes.
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White papersNavigating interest rate uncertainty on the bond market during a second Trump term
US bond rates are a significant risk driver for institutional investors such as pension funds, insurance companies, and sovereign wealth funds who typically invest roughly 30% of their allocations into bonds and other fixed income classes. With Trump’s election win, we must navigate the potential impacts of his policies on the bond market. Given the contradictory nature of his suggested policies, we see the potential for a new level of interest rate uncertainty driven by a mix of inflationary and growth pressures causing increased volatility in the bond market.
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White papersWill US bond markets outperform Europe and China in 2025?
This quarter’s summary of what to look out for in fixed income
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White papersInflation in focus ahead of Trump’s inauguration
“In the Trump 2.0 administration, the fiscal outlook and inflation expectations will be the main market themes to watch.”
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White papersRelative Value & Tactical Asset Allocation Q1 2025
Although the uncertainty of the U.S. election is over, uncertainty regarding the prioritization of announced policies creates a broader range of possible outcomes in 2025. An anticipated deregulatory environment should be positive for overall growth, while tariffs could work against global economic activity and temporarily boost inflation pressures.
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White papersBuying bonds: January macro and asset class views
2024 marked the fourth consecutive year of rising US yields, for the first time since the early 80’s. We have been patient in recent years going overweight duration in our multi-asset portfolios as we have persistently viewed the risks to US nominal growth relative to consensus expectations as skewed to the upside.
