All High Yield articles – Page 10
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White papersStubbornly high inflation sends bond yields higher
UK inflation fell by less than forecast in April, Wednesday’s data revealed, prompting expectations of further interest rate hikes, and pushing bond yields to their highest levels since October.
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White papersPrivate credit: A diverse and versatile toolkit for investors
For over a decade, both corporate and consumer borrowers benefited from low-interest rates and a very low cost of capital – but this is changing as global economies continue to adjust to central bank interest rate hikes and an uncertain geopolitical backdrop.
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White papersTaking a Time Out? The High Price of Idle Cash
Parking your fixed-income assets in cash may seem like a safe choice in today’s volatile investing environment, but it’s actually a risky proposition. Here are three reasons why sitting on the sidelines can be a dangerous game.
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White papersOpportunities across the credit spectrum for multi-sector income investors
As central banks near the end of hiking cycles, the environment is becoming increasingly supportive for fixed income.
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White papersDon’t Bank on Bank Loans in 2023
As bond yields rose in 2022, investors sought refuge in high-yield bank loans, whose floating coupons are often heralded as an antidote to rising rates. But with conditions shaping up differently in 2023, bank loans may face challenges. We think income-seeking investors should instead consider a more diversified approach that balances rate and credit risks. Here’s why.
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White papersFixed Income Perspectives April 2023
Markets appeared optimistic amid strong macro indicators until early March, when the collapse of two US regional banks and forced sale of Credit Suisse led to a risk-off sentiment.
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White papersQ2 2023 Strategic Investment Outlook: Balancing the Strategic and the Tactical
Balancing different time horizons always presents challenges. It may be intellectually ugly to hold different positions over short horizons and long horizons, but sometimes the macro setup suggests it’s the right way to proceed.
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White papersUnlocking the Investment Potential of “S” in ESG
Social issues are perhaps the most difficult to research and least understood by investors with an environmental, social and governance (ESG) focus. But the risks and opportunities they represent are growing, and investors need a way to step up to the challenge.
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White papersWith High Yield, Shorter May Be Better for Insurers’ Yields…and Capital Efficiency
With yield curves inverted in many parts of the world, investors no longer need to increase interest-rate risk to bolster yields. Instead, they can achieve the same end with shorter-duration high-yield bonds. For insurance investors that have typically shied away from high yield, we think this landscape—and the regulatory treatment—present a compelling opportunity.
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PodcastRiding the Curve: Isolating Income
The big difference between 2022 and 2023 for bond investors can be summed up in one word: Income. George Bory highlights the opportunities in this week’s episode.
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VideoHigh Yield: Finding Value in a Volatile Environment
Chris Sawyer, Head of European High Yield, discusses current conditions in the global high yield market and explains how they are creating the potential for attractive total returns.
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White papersSDG Engagement High Yield Credit, Annual Report 2022
In a review of the past 12 months, the investment team offers an in-depth view of engagement highlights, progress on milestones, performance and case studies.
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White papersPM Spotlight: A Stock-picker at Heart Manages High Yield Bonds
This issue of PM Spotlight profiles Sarah Harrison, senior portfolio manager for Plus Fixed Income. Read about Sarah’s first great high-conviction trade in high yield and what keeps her coming back to high yield bonds.
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White papersHigh Yield: Charting a Steady Course Through Roiling Seas
Banking stresses added volatility to first-quarter markets already coping with rising rates and recession fears. Still, with corporate fundamentals sound, high yield investors and issuers are more cautious than fearful.
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White papersA tale of two markets: Contrasting the fortunes of European and US High Yield
The European High Yield (HY) market has outperformed the US market over the last five, 10 and 20 years. We compare the trends in charts and ask: Will this continue and what are the main similarities and differences between the US and European markets?
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White papersSolving for the Climate Transition in High Yield
A holistic approach to climate considerations can offer an opportunity to invest in a diversified portfolio of high yield issuers that are committed to reducing or maintaining a low carbon footprint, while also targeting high current income and capital appreciation.
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White papersFrom Anomaly to Opportunity: High Yields on Short Bonds
Stock and bond markets were shaken by the recent banking crisis in the US and Europe. Although both US and European authorities took prompt action to prevent damage to the financial system and dampen market volatility, these episodes highlight the importance of risk management and the worth of proven investment strategies that can both mitigate risk and generate worthwhile returns.
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White papers10 investment themes for 2023
Although many investors are expecting a return to normal after inflation subsides and central banks stop raising interest rates, we believe markets are undergoing significant changes and it might be necessary to reset expectations in this new environment.
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PodcastThe Investment Podcast: European High Yield – changing perceptions
To what extent do European High Yield markets represent good value at the moment and is now an attractive entry point?
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White papersHigh yield bonds vs. leveraged bank loans: Is now the time to rotate?
Over the last two years, leveraged U.S. bank loans (“loans”) have outperformed their high yield bond counterparts; however, we believe this trend may be coming to an end. The relative outperformance of loans during this period was primarily a function of duration, or more notably in 2022, the lack of duration.
