Investment Grade Quarterly Update – April 2023
Partner and Portfolio Manager Chris Bowie discusses recent Q1 events and gives an outlook for Investment Grade for the next quarter.
Insights Topic
UK
Funding, capital and ABS as financial market stability tool
Douglas Charleston looks at the wider implications of recent bank sector volatility and the opportunities it presents for credit investors.
Why short dated IG is the “best game in town” for 2023
2022 was the worst year for bonds in living memory. So, could 2023 be similarly bad for other asset classes? Chris Bowie looks at the case for short dated investment grade credit for 2023.
Bank of England joins the ECB on hierarchy
The Bank of England joins the European Central Bank in stating that there is a clear hierarchy when it comes to a resolution or an insolvency scenario.
February pull-back widens the entry point for fixed income
February was a nasty throwback to the sort of market conditions that battered fixed income in 2022, but the pull-back has given anyone worried they’d missed the January rally an even better opportunity, says Charlene Malik.
UK consumer caution bad for growth, but good for bonds
With UK consumers holding on to more of their pandemic-era savings than their US counterparts, Felipe Villarroel looks at what it means for bond investors.
The compelling case for ABS in 2023
Having done its job of delivering lower volatility and better performance than mainstream bond markets in 2022, the income and defensive characteristics of European ABS look equally compelling in 2023, says Doug Charleston.
Multi-Sector Bond Quarterly Update – January 2023
A member of our Multi-Sector Bond team discusses recent market developments in Q4 2022 and provides his outlook for the year ahead.
First results from great QT experiment are positive
With many market participants fearing the impact of quantitative tightening (QT), Johnathan Owen looks at one central bank’s early experience of actively selling bonds to investors.
Are storm clouds gathering over the UK housing market? Part two…
In the second instalment of a two-part blog on the UK housing market, Shilpa Pathak stress tests UK RMBS to determine how high mortgage defaults would have to get before bondholders are impacted.
Nationwide deal highlights surge in ABS interest and income
Higher rates mean the income available on AAA RMBS bonds is eight times what it was at the start of this year, and growing demand for this floating rate asset class is clear, says Kevin Law.
The Rodney Blog 2023: A return to returns
In our annual ‘Rodney Blog’, Eoin Walsh says that with rates now offering both yield and downside mitigation, and credit yields at near-decade highs, fixed income investors could enjoy strong returns in 2023