All Loans articles – Page 10
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White papersEuropean Smaller Companies: An Evergreen Growth Opportunity
In this Q&A, Nick Williams, Barings’ Head of Small Cap Equities, discusses the opportunities his team is seeing in the current environment, and explains why an active approach, combined with rigorous, bottom-up stock selection, is key to identifying high-quality companies.
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White papers
U.S. Loans: Challenged Market or Veiled Opportunity?
With loan and bond yields currently comparable, we believe—in a somewhat contrarian view to the market—there is a good argument for investing in loans, particularly in the U.S., where the economy appears to be marginally stronger than in Europe.
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White papers360° – Fixed Income report, Q3 2019
The protracted injection of liquidity into the fixed-income space over the past decade has resulted in more than $14tn-worth of negative-yielding debt. In today’s upside-down world, a flexible approach will help credit investors keep an active watch and avoid potential pitfalls.
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White papersWhat do negative interest rates mean for investors?
With interest rates falling sharply, even more sectors of the global bond market are trading in negative territory. We explain what this means for investors, offer perspective on where markets may be headed and suggest strategies to position portfolios to preserve income and protect against losses.
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White papersU.S. Loans: Challenged Market or Veiled Opportunity?
With loan and bond yields currently comparable, we believe—in a somewhat contrarian view to the market—there is a good argument for investing in loans, particularly in the U.S., where the economy appears to be marginally stronger than in Europe.
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White papersYour Questions Answered by Hermes Direct Lending
What is direct lending? How did you position your strategy? These are just a couple of the most commonly-asked questions about direct lending by our clients and prospective clients.
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Is There Style Drift in Middle Market Lending?
Barings’ Ian Fowler weighs in on the supply/demand dynamics in the direct lending space and explains why looking at the middle market as one cohesive universe can be misleading.
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Will ECB Change Course to End Negative Rates?
Negative rates aimed at boosting European bank lending instead had the opposite effect. Will the ECB end this policy and raise rates in 2019?
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High Yield: A Swift Rebound
High yield bonds and loans posted a strong Q1 following the technically induced Q4 sell-off. With defaults still near historical lows, current spreads provide attractive risk-adjusted return potential.
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High Yield Bonds & Loans: Where to Next?
High yield markets roared back in the first quarter. Can market fundamentals and technicals support continued strength? And how should investors factor in risks ranging from possible recession, to ratings downgrades, to liquidity concerns? Barings’ David Mihalick weighs in.
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White papersValuations, BBBs And Policy Change - European Investment Grade Outlook | March 2019
Companies in most developed market economies have enjoyed years of super-low borrowing costs The European IG market has increased in size from a face value of around €800 billion in 2005 to more than €2.1 trillion by the end of January But what might happen to companies were borrowing ...
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White papersThe Potential Benefits of Global Senior Secured Loans
In the current environment, senior secured loans are gaining traction for their potential to offer a blend of attractive yield and protection against both credit and interest rate risk.
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White papersEuropean Loan Market - review and outlook
European loans found relative favour with investors as 2018 marked a return to volatility for global markets. European loan returns were modestly positive, thanks to pricing stability and high running coupon income, unlike other risk assets.
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White papersAn Underappreciated Subset of High Yield
For investors willing to surrender a nominal amount of yield in favor of greater protection given a default, global senior secured bonds can be an attractive option in a recessionary environment.
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White papersAn Underappreciated Subset Of High Yield
As we enter what may be the twilight hours of an elongated credit cycle, an increase in defaults is not only possible, but probable. Against this backdrop, a credit-intensive, global approach to high yield investing is key.
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White papersCov-lite loans: the new normal, but at what cost?
Lending protections are eroding in Europe: cov-lite loans are now the norm in the large-cap loan segment, while cov-loose loans and add-backs to EBITDA are gaining ground in mid-market deals. Today, we explore the implications of loosening covenants and explain why we avoid these instruments, focusing instead on mid-market deals, which are governed by more robust loan documentation and offer attractive returns under strict risk controls.
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White papersEuropean Asset -And Mortgage- Back Securities Ten Years On
How do the European asset- and mortgage-backed securities fare today a decade after the financial crisis they have been incriminated in? We make an assessment of the asset class, comparing today’s market conditions with those of ten years ago.
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White papersAsset Allocation Update: Strong earnings prompt US equities upgrade
Amid background noise such as ongoing trade skirmishes involving the US, the evolving Chinese economy and geo-political tensions, we have spent time analysing recent market movements and the implications for risk assets.
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White papersDaisuke Nomoto: Japan - more tailwinds than headwinds for 2018
With GDP on a sustained growth track, supported by structural reforms and the Bank of Japan’s accommodative monetary policy, we maintain a positive outlook for the region.
