Fixed Income – Page 15
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NewsIceland’s pension funds fear €1bn losses under housing bond plan
Pension fund group says on firm legal ground, and warns the government of years in court
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NewsSurvey shows 65% of European institutional investors eye social bonds
Investors are, however, not prepared to pay a ‘social premium’ on social bonds
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NewsGermany’s BVK looks to expand investment grade bonds portfolio
Investment grade bonds have become ‘significantly more attractive’ because of increasing interest rates
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NewsIcelandic pension funds decry government reneging on housing bond terms
Pension funds are collectively largest owner of HFF bonds, which Icelandic government plans to terminate
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NewsComPlan to look at UN SDGs in private equity, debt investments
The scheme included physical and transitional climate risks in an ALM analysis for the first time last year
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NewsItaly roundup: BCC-CRA pension fund divests from private markets
Plus: Fondo Priamo increases number of members and contributions; Enpaia cuts real estate investments
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NewsFINMA faces further legal action for AT1 bonds write down
Migros Pensionskasse expects court to recalibrate supervisory authority’s decision
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NewsItaly roundup: Enpam plans to build up global bond portfolio
Plus: Write downs hit Enasarco; Laborfonds sees sign of return to normality
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FeaturesIPE Quest Expectations Indicator May 2023
Russian air superiority over Ukraine is coming to an end due to lack of equipment. Destroying civilian targets is counterproductive and consumes ammunition. Bakhmut is eating into Russian resources, while Ukraine is being re-armed. History teaches that better technology, rather than numerical superiority, wins wars. But even a lopsided Ukrainian win would not automatically mean peace.
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Asset Class ReportsFixed income – New beginning for bond investors
A painful 2022 for fixed income means attractive opportunities and a possible normalisation in risk and return
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Asset Class ReportsFixed income – Convertible bonds return to favour
After a long period in the wilderness, convertible bond issuance is coming back to life
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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.
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Asset Class ReportsFixed income – Europe's investment-grade market makes a comeback
Investors are showing tentative signs of interest as spreads tighten
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Asset Class ReportsPortfolio strategy – Fixed income
Last year ushered in a new era for global fixed income and credit markets. It was the worst, in terms of returns, for bond investors in years, but it signalled a regime change. Investors need to be prepared for structurally higher inflation and rates, as well as higher volatility. But for fixed income managers, this is an environment where value is easier to find. Our report looks at this new beginning for fixed income investors, and at how selectivity has become key in the high yield and loan markets.
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Asset Class ReportsFixed income – A year for selectivity in high yield and loans
Patience might prove the be the watchword for the rest of 2023 in high yield
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NewsEvonik pension scheme to hike fixed income investments
The scheme plans a 10% increase in bond investments to 30%
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NewsInvestors appeal against FINMA’s order to write down AT1 bonds in Credit Suisse/UBS deal
The formal complaint was filed before the St-Gallen-based Federal Administrative Court on 18 April by law firm Quinn Emanuel Urquhart & Sullivan
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FeaturesIPE Quest Expectations Indicator April 2023
With new, superior equipment, the Ukrainian military is set to start an offensive soon. Meanwhile, Yevgeny Prigozhin, leader of the Wagner Group, is jockeying to become Russia’s next kleptocrat on the back of the Russian army. Donald Trump’s candidacy is increasingly beleaguered by defeats in court. The trade agreement on Northern Ireland between the EU and the UK is a significant boon for both as well as for Prime Minister Rishi Sunak, not because the trade flows are so important but because the issue blocked co-operation in many other fields. While the winter has been mild and beneficial, there are early signs of a dry spring, quite possible in view of climate change setting in. If that materialises, harvests, therefore food prices, will be affected in autumn.
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FeaturesAhead of the curve: Introducing the concept of a carbon risk-free curve
As global investors and companies progress towards their net-zero emissions targets, the concept of a carbon risk-free curve becomes increasingly relevant within the fixed-income market. In our view, this curve should provide a reference for evaluating the risk levels of bonds in relation to their issuers’ CO₂-equivalent (CO₂e) emissions and can therefore help investors to assess the impact of changes in CO₂e emissions on the yield spread of fixed-income bonds.
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Opinion PiecesAustralia: Super funds shift to fixed income
With fear of recession in Australia and globally, superannuation funds have gone into defensive mode. Cash and liquidity are two key considerations for CIOs, and some are waiting to take advantage of attractive market opportunities.
