Selectivity pays as European high yield hits record
Primary issuance in the European high yield (HY) market surged in June with €21.2bn of supply marking the highest monthly volume on record.
Insights Topic
Europe
European fixed income offers value, not just diversification
The turbulent start to 2025 has sent many investors seeking alternatives to US assets, but in our view European fixed income can offer more than just diversification.
Flash Fixed Income: Rates calm before the storm?
Softer US economic data means the pressures on UST yields now look more balanced, but headlines around President Trump’s pick for the next Fed chair are just one reason investors should expect rates volatility to continue.
Reform proposals bring fresh hope of deeper ABS market
Blog posts about regulation rarely trouble our most-read charts, but on this occasion we think the payback on time invested looks more compelling.
Watching spreads and structures as ABS momentum builds
Last week marked another record-breaking year for the securitisation industry as over 5,500 market participants gathered in Barcelona for the annual Global ABS conference, surpassing last year’s attendance and reflecting the growing momentum across both public asset-backed securities (ABS) and private asset-backed finance (ABF) markets.
European high yield untroubled by default rate spike
The European high yield (HY) default rate spiked higher in May with the largest monthly default volume on record (€6bn).
ECB preview: Is this the bottom for monetary policy rates?
The European Central Bank (ECB) will be alone this week in delivering its latest monetary policy decision, with the next Federal Reserve, Bank of England and Bank of Japan meetings not until the week commencing June 16.
Reaction to eventful Monday bodes well for markets
Monday was a somewhat eventful day for markets with several headlines in the US and Europe. Risk assets did not necessarily reflect the eventfulness of the day, finishing virtually unchanged, while rates had a volatile day that ultimately produced a sizeable rally.
Flash Fixed Income: Are markets complacent on tariff risks?
The question for investors now is how much of the macro risk remains, and how well that risk is being reflected in asset valuations.
European banks bullish despite tariff uncertainty
European banks are coming to the end of the Q1 2025 reporting season, and on the surface there are multiple headwinds to contend with.
What does UK deal tell us about tariffs?
With much fanfare, President Trump and Prime Minister Starmer announced a “historic” trade deal between the US and UK on Thursday. The main points for the UK are a reduction in auto tariffs from 27.5% to 10% for the first 100,000 cars that enter the US, and the removal of steel and aluminium tariffs.
The state of play in fixed income after April turmoil
April was one of the most volatile months across financial markets in recent memory, triggered by President Trump’s sweeping tariff announcement on April 2.