Caroline Hay
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- Email:
- liam.kennedy@ipe.com
FeaturesUS high yield bonds punch out of a corner
US high yield has come a long way from its murky beginnings with the very high yielding bonds of so called ‘fallen angels’, and Drexel Burnham Lambert’s Michael Milken offering bonds newly issued by corporates with sub-investment grade ratings for the first time in the 1980s, properly introducing the world to high yield bond investing.
FeaturesFied income, rates, currencies: All eyes are on US elections
With so many important elections taking place this year, politics were likely to have an outsized influence on financial markets.
Special ReportIndia makes its debut in key government bond index
Their inclusion in the JP Morgan index makes government bonds more accessible to foreign investors
FeaturesFears grow of US slowdown
US president Joe Biden’s decision to step aside was much murmured about following his disastrous performance in a debate with Donald Trump, but it was still a surprise when he announced his decision. However, market reactions were relatively muted, despite shaking pollsters’ predictions on who might now win the election.
FeaturesUS economy continues to surprise
The resilience of the US economy continues to confound observers. The Federal Reserve’s 11 hikes in interest rates over the course of 2022 and 2023 were implemented to rein in economic strength and to stifle inflation. Scroll forward to the second quarter of 2024 and both inflation and economic activity are still higher than expected.
FeaturesWill delayed economic bad news hit the market this year?
Global economic growth was below potential in 2023, but still markedly stronger than the forecasts had been indicating at the start of the year, with the US leading the way and even the likes of Europe and the UK, though hardly stellar performers, posting better than expected economic activity.
FeaturesFixed income, rates & currency: Uncertainty persists
As the major central banks in developed markets reach, or at least near, the end of their hiking cycles, markets, rather than identifying when policy rates will peak, focus is now on the conundrum of just how long these policy peaks will be maintained.
FeaturesFixed income, rates & currency: Chill winds prompt caution
Although 2022 was a remarkably bad year for bonds and equities, any hopes that 2023 might illuminate a brighter path have already been dispelled as rapidly changing narratives – from recession to boom to fears of a banking crisis – all tossed and turned stock and rates markets. The result was a remarkably turbulent first quarter.
FeaturesFixed income, rates & currency: defying historical norms
Another US jobs report comes in significantly above consensus. Its across-the-board strength, upward revisions to previous reports, and an unemployment rate at the lowest level since 1963, may indicate that the economy is not quite as near recession as previously surmised. And with inflation still rising, albeit slightly less fast than expected, the outlook remains cloudy.
FeaturesEuro peripheral spreads
Just over a decade ago, Mario Draghi, then President of the ECB, gave a speech in which he uttered the famous words: “.…the European Central Bank [ECB] is ready to do whatever it takes to preserve the euro”, a phrase often credited with hauling Europe out of the depths of its sovereign debt crisis.
FeaturesBriefing: Germany finally issues green bonds
There was little doubt that the German finance ministry would eventually tap the green bond market. Germany is committed to reaching net zero greenhouse emissions by 2050.
- News
2019 Outlook: Preparing for the downside, part 2
IPE analyses fixed income outlooks from JP Morgan Asset Management, Janus Henderson, Fidelity, and Pictet
- News
2019 Outlook: Preparing for the downside, part 1
IPE analyses investment outlooks from investment firms including DWS, BlackRock, SSGA, and Invesco.
- Special Report
Private Debt: Careful selection is key
Present market conditions have generated many opportunities in private debt but the challenge is finding the right deals
