By Sonal Desai, Ph.D. Chief Investment Officer, Franklin Templeton Fixed Income
Bond investors have started the new year on a very upbeat tone. They seem convinced that the battle against inflation has already been won. The Federal Reserve (Fed) might nudge rates up a bit more to stay on the...
Investors in sub investment grade (sub-IG) private debt are facing the prospect of their first meaningful default cycle later this year and into 2024. In fact, the lure of comparatively higher yields in the post-GFC (i.e. low rate) environment, along with the promise of no volatility appears to be unravelling.
We were reminded...
Janus Henderson Investors' Credit Risk Monitor tracks key indicators which impact credit portfolios
All three traffic lights monitored by Janus Henderson Investors' credit team continued to flash red in Q2 2023.
Disparity between nominal growth and real growth, combined with high inflation, has allowed nominal earnings at companies to stay...
Jim Caron, co-chief investment officer of Global Balanced and Risk Control strategies at Morgan Stanley Investment Management, looks at change in bond yields in his current podcast 'Caron's Corner'.
Get long of bonds? No. Add duration? Yes. There is a big difference. As bond yields move close to 5% for...
By Bruno Bamberger, Senior Solutions Strategist at AXA IM
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 (see chart below).
Institutional investors may understandably be tempted to allocate more to these strategies – not just because of...
Ninety One's Multi-Asset Credit team explains that various factors are distorting the headline index spread in the US high-yield market and suggests investors look to other parts of the global credit investment universe for better risk-adjusted value.
The difference between the median (a more accurate indicator for investors) and headline index...
Bryan David, Multi sector Portfolio Manager, Principal Asset Management
Markets opened the year with enthusiasm over the prospect of forthcoming policy rate cuts after the Federal Open Market Committee (FOMC) signaled a policy pivot in their final meeting of 2023. However, as 2024 has progressed, that excitement has given way...
Ken Orchard, Head of International Fixed Income and Portfolio Manager for Diversified
Income Bond Strategy, T.Rowe Price shares his outlook for the US economy and the Fed’s policy direction:
I would characterize what we've seen so far this year as more of a pause in U.S.
exceptionalism than the end of it,...
Elizabeth Moran interviews Hui Sien Koay, Head of iShares Fixed Income Product Strategy, APAC ex-Japan, BlackRock, and James Waterworth, Director, Wealth Distribution Australia, BlackRock, on how investors are currently thinking about fixed income within a strategic asset allocation or total portfolio level.
Key take-aways:
Current interest rates, won’t go back...
In this webinar, we talk with Anthony Kirkham who is the Head of Investment Management/Australian Operations for fixed income manger, Western Asset Management. The company joined The Franklin Templeton Group of companies in 2020. It has USD$491bn in assets under management. In our discussion with Anthony, we drill down...
