All Government Bonds articles – Page 8
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A Domino Effect?
At Allspring, we’re committed to being purposefully divergent. Our investment professionals are free to voice their own views, and their perspectives enable us to more holistically “see” both potential opportunities and risks.
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An Inflection Point
Four of Allspring’s fixed income leaders share their perspectives on the market volatility and banking system turmoil in the wake of SVB’s collapse and their views on what lies ahead for fixed income investing.
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Politics, Deficits and the Debt Limit
We firmly believe that Congress will ultimately raise the debt limit, but it’s worth remembering that political drama affects markets.
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Blog
A Fresh Approach to Analyzing Bank Capital Bonds
2022’s volatility taught investors that, to certain bank issuers and regulators, the economics of voluntary bond redemptions outweigh the reputational cost of not calling bank capital securities.
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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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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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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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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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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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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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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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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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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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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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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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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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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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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.