All insights
Why the macro outlook is tilted in fixed income’s favour
With elevated yields and inflation expected to come back to target, we think investors can target a level of real return that was extremely difficult to achieve in the previous cycle.
Appetite for German consumer bonds shows deep demand in ABS
Despite higher interest rates and cost of living increases across jurisdictions, there is no sign as yet of any impact on issuance levels in European consumer ABS.
European High Yield funds post record inflows amid buoyant investor demand
A lot has happened since our last blog about the state of affairs in the European High Yield (HY) market. At the time, the sector had just seen three of the largest capital structures of Altice France, Ardagh Group and Intrum AB announce restructuring advisors in quick succession, with growing fears that it would represent the start of a wider default trend.
Back to Basics: Yield curves
George Curtis (Portfolio Management), from our Multi-Sector Bond team provided a comprehensive understanding of the key aspects of yield curves.
Flash Fixed Income: What would Trump do to Treasuries?
In this inaugural edition of Flash Fixed Income, we look at the highly unpredictable US presidential election and explain why a potential second Trump administration could limit the Federal Reserve’s ability to deliver more rate cuts.
Banks’ early pre-funding reduces AT1 extension risk
Over the last few months in the Additional Tier 1 (AT1) market we have seen a growing trend of issuers “pre-funding” their transactions even earlier. In some cases, such as Belgium’s KBC and Austria’s Erste Bank, bonds with expected call dates in 2025 have been tendered and replaced with new issues over a year early.