All Sovereign Bonds articles
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White papersBlog | Climate risk in European sovereigns: leaders and laggards
Europe is a leader in the global efforts to mitigate climate change. Its political classes have lobbied for more ambitious global targets, set strong national targets and are marshaling banks and investors to support climate finance. This can be seen from the relative performance of Europe vs. the rest of the world in cutting carbon emissions and the amount of further efforts to achieve a global warming compliant level of 2° C degrees.
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White papers
The Outlook for Global Markets 2020
Although global economic indicators appear to have stabilised in late 2019, investors may need to accept a degree of discomfort to find opportunities in 2020.
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White papers
Credit selectivity at the fore in European high yield bond and senior loan investing
The European leveraged finance market is recognised for its potential to offer a compelling income advantage versus other, more traditional fixed income asset classes. Current market factors such as low default rates for speculative-grade debt and further stimulus from the European Central Bank are expected to continue to lend support to this asset class, which has enjoyed strong performance in 2019. Still, a prudent perspective would view the market as standing on relatively fragile ground in a period of low yields, lackluster economic activity and weakening growth outlook.
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White papers
Building on 2019’s green bond resurgence
In almost whatever country you care to mention, climate change and social inequality are exploding into the public consciousness. Extinction Rebellion in the UK or the Gilets Jaune in Paris are just two of the more high-profile signs. Yet in the financial markets, too, green, social and sustainability bonds are growing in number and sophistication.
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White papers
FTSE Russell China Bond Research Report - November 2019
Highlights in the November report
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White papers
Stay agile amid diverging scenarios
After enjoying stellar performance this year, investors will increasingly question whether the global economy will proceed towards a trade war-engineered recession moving into 2020, thereby ending the longest ever bull market. Or, if growth stabilizes at a low level, and potentially rebounds, the cycle could extend even further.
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White papers
ECB QE2 Starts On A Strong Foot With A Tilt To The Private Sector
ECB QE2 started off on a strong foot, according to data released on Monday regarding the very first week of purchases. The overall increase in holdings of the four QE programmes was quite high for just one week relative to the announced monthly path of EUR 20 bn, as it totalled around half of this amount , at EUR 9 bn. Most of the increase in holdings was driven by the public sector (roughly EUR 4.5bn) and corporate bond programme, at almost EUR 2.8 bn. The CSPP portfolio expanded from EUR177.1bn at the end of October to EUR181.1bn on 8 November. With the data reflecting settled securities, this number should cover just four trading days of purchases.
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White papers
ABS: Uncovering Opportunities Beyond the (IG) Index
Amid an ongoing search for yield and with a number of potential risks on the horizon, there may be benefits to exploring opportunities outside of traditional corporate and government bonds—such as certain parts of the asset-backed securities (ABS) universe.
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White papers
Why Are Investors Turning to Emerging Market Corporate Bonds?
Emerging market debt has expanded significantly. Its continued evolution has opened the way for more sophisticated investment strategies which exploit its diversity to improve diversification and manage risks. This is the case of Emerging Market (EM) corporate bonds. The sustained deepening of the asset class will make it even harder to ignore as an attractive investment opportunity. Alongside this growth, the increasing variety of EM corporate issuers offers continued opportunities for investors to diversify.
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White papers
High yield: where the income continues to flow
High yield debt is one of the few markets offering positive real income.
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White papers
After the bond rally, beware of bond math’s return
Bond market investors have experienced impressive returns this year. Even mortgage-backed securities, which were at the bottom of the pack for fixed-income sectors in year-to-date performance through September 30, returned 5.60%, which easily eclipsed the 1.28% gained by the fixed-income leader for all of 2018, municipal bonds
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White papers
Monthly Market Monitor - October 2019
Eaton Vance Monthly Market Monitor presents a concise review of economic and asset class data through clear and impactful charts. Providing timely information across a broad array of markets and investment topics, this guide serves as a helpful resource in providing connectivity between changing market events and implications for investor portfolios.
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White papers
Core Matters Investment Returns: A 5-year perspective
2019 has seen huge inflows into Fixed Income (FI) funds and outflows from Equities. From a medium-term return perspective this makes no sense. The formidable demand for safe assets reflects cyclical and structural forces (e.g. ageing). No matter the economic scenario, FI returns over the next five years ...
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White papers
Negative interest rates: a bold but dangerous experiment
As the global economy slows and monetary policy approaches its limits, negative interest rates could spread. We shouldn’t be blasé about such a policy. It could have far-reaching effects across the financial system, especially in banking. In this unusual environment, investors may wish to favour growth companies that can outperform for longer, rather than locking in guaranteed losses on safe but negative yielding securities.
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White papers
Emerging Markets Sovereign Debt: Does Active Management Pay?
The performance of Emerging Markets Sovereign Debt can—and does—vary widely from country to country. In this piece, Barings’ Cem Karacadag explores how an active approach can be key to selecting the most attractive opportunities, while also avoiding the bad apples.
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White papers
Blog | Falling too far? What sets fallen angels apart
When US investment grade bonds are downgraded and cross the ratings threshold into high yield territory, they join the sector known as “fallen angels.” And while they’re technically categorized as high yield (HY) bonds, it’s important to note that fallen angels were initially issued as investment grade (IG) credits. This is why they tend to have distinct characteristics that set them apart from the rest of the US HY bond market.
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White papers
Monthly Market Monitor - September 2019
Eaton Vance Monthly Market Monitor presents a concise review of economic and asset class data through clear and impactful charts. Providing timely information across a broad array of markets and investment topics, this guide serves as a helpful resource in providing connectivity between changing market events and implications for investor portfolios.
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White papers
What are insurance-linked securities and how do they work?
A challenging environment for traditional asset classes means less correlated assets - like insurance-linked securities – are in higher demand. How do they work?
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