All High Yield articles – Page 5
-
White papers
Breaking Down the Liquidity Silos
Breaking down the boundaries between liquid and illiquid assets could broaden our outlook and better align portfolios to our objectives and time horizon.
-
White papers
2024 outlook: what’s next for high yield?
Against a backdrop of heightened uncertainty, what has surprised you most about high yield over the past year? And how do you see those dynamics playing out in the next 12 months?
-
White papers
Moment of truth
A hard or soft landing could throw a harsh light on corporate fundamentals in 2024. In the second set of breakout sessions from our Fixed Income Forum in London on 14 November, attendees learned of the potential in unconstrained credit, the opportunity in investment grade and the crucial role fixed income can play in the sustainability transition.
-
White papers
2024 Outlook Public Fixed Income
With heightened uncertainty and widespread risks blurring the outlook, our credit market experts explore the future prospects for asset classes ranging from high yield, to investment grade credit, to emerging markets debt.
-
Podcast
2024 Public Fixed Income Outlook
From high yield and investment grade credit to emerging markets and securitized debt, what will 2024 hold for fixed income investors? Our panel of experts weighs in on the opportunities and risks ahead.
-
White papers
Multi-Asset Credit Investing: Why Now?
In today’s uncertain environment, high yield multi-asset credit strategies look compelling—especially given their strong track record through the cycle and the potential for attractive income.
-
White papers
Four Reasons High Yield is More Resilient Today
The high yield bond market has undergone a fundamental shift over the last decade, with today’s higher-yielding, higher-quality market looking particularly resilient in the face of a potential downturn.
-
White papers
Is ‘doing good’ too good to be true?
Businesses that align with ongoing structural changes in the economy will emerge as winners, with investors standing to not only do good, but also do well, believes Michalis Ditsas, Investment Director – Fixed Income.
-
White papers
Shorter versus longer-dated bonds: Is there a role for both in investor portfolios?
Money market and short-dated (one-to-five-year) bond yields are the highest they have been since the end of the 2008/2009 global financial crisis.
-
White papers
No Regrets: The ECB Keeps Policy on Hold
Inflation in the euro area is falling and the economy is rapidly weakening. Against that background, the ECB kept rates on hold at its policy meeting on October 26.
-
White papers
Treasury yields rise, anticipating a Fed pause
The U.S. Treasury yield curve steepened as the U.S. Federal Reserve indicates a pause at the November meeting. The market has essentially priced out any chance of a November hike and is pricing in only a 20% likelihood of a December rate increase.
-
White papers
Not all high yield is created equal
The high yield bond market has matured from its humble beginnings and is now a diverse $1.793bn marketplace for companies to achieve their capital financing needs. As it has matured, its credit quality has also increased. Today, nearly half of the high yield market is classified as BB – the highest quality credit rating. At the same time, the proportion of the weakest credits has also reduced.
-
White papers
Tighten Your Seatbelts
Shifting supply-and-demand dynamics appear to be driving bond markets more than fundamentals, which makes for a bumpy ride.
-
White papers
Position portfolios for a policy turn
While it is tempting to sit in still high yielding cash, we suggest adding traditional fixed income sectors. Higher income helps investors wait for the end of the rate hiking cycle, and longer duration helps position a portfolio for potential rate declines. We advocate a diversified multisector approach, focused on higher-quality credits across sectors. Active management remains critical, as credit spreads will likely widen in the coming months.
-
White papers
Higher for Longer, Longer the Stronger
We are leaning into quality as markets start to focus away from near-term tailwinds and onto medium-term headwinds.
-
White papers
SDG Engagement High Yield Credit, H1 2023 Report
Achieving true sustainability in fixed income is no mean feat: it takes time, expertise, dedication and resources.
-
White papers
Long the Strong
The prolonged adjustment to higher rates is just beginning, and we think it will likely be more painful for some than others.
-
White papers
Africa’s Investment Outlook Depends on Macroeconomic Adjustments
Performance within Sub-Saharan Africa credits so far in 2023 has largely been driven by positioning and technicals which presents investors with opportunities.
-
Video
Bonds are Back And so is Risk
The search for yield is over. The risk-management challenge has just begun.
-
White papers
Go global for higher income
There is a new reality taking shape in global markets and investors may need to reset their expectations.