All High Yield Bonds articles

  • Tim Leary
    Features

    US high yield bonds punch out of a corner

    October 2024 (Magazine)

    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.

  • US net international investment position
    Features

    Fied income, rates, currencies: All eyes are on US elections

    October 2024 (Magazine)

    With so many important elections taking place this year, politics were likely to have an outsized influence on financial markets. 

  • Net sentiment equities
    Features

    IPE Quest Expectations Indicator - October 2024

    October 2024 (Magazine)

    In generic US polls, Democrats beat Republicans, with a small but increasing margin, signalling an opportunity for reforms if Kamala Harris wins and a continuation of a divided and blocked Congress if Donald Trump wins.

  • Net sentiment equities
    Features

    IPE Quest Expectations Indicator - September 2024

    September 2024 (Magazine)

    Kamala Harris’ candidacy has turned the political mood in the US. The two candidates are very close together in the polls but while Trump’s score is stable – except for a worsening favourability – Harris’ statistics all show a positive trend.

  • Assets under management of top 10 funds
    Special Report

    Top 10 European pension funds raise equity and bond exposure

    Top 1000 Pension Funds 2024

    Pension funds in most European countries recorded strong returns of between 6% and 9%, according to preliminary figures published this summer by the OECD.

  • Net sentiment equities August 2024
    Features

    IPE Quest Expectations Indicator - August 2024

    July/August 2024 (Magazine)

    Joe Biden’s weakness was a lucky stroke for Donald Trump, who has shown similar symptoms for years. It remains to be seen what effect Kamala Harris has on the polls. Trump and his chosen VP are both proponents of weakening the USD.

  • telescope binoculars search mandate
    News

    Swiss occupational scheme tenders up to CHF1.2bn in bond mandates

    2024-06-28T11:30:00Z

    The searches are for emerging market debt and US high yield bonds, considering both active and passive options

  • Refinitiv
    Features

    Market predicts US soft landing - June 2024

    June 2024 (Magazine)

    A combination of Fed­eral Reserve chair Jerome Powell’s press conference and a slightly weaker-than-expected US April non-farm payrolls outcome succeeded in flipping the market back to a soft-landing narrative for the US economy. US Treasury bonds rallied sharply, taking other markets with them, while the yen weakened significantly against the dollar before recovering.

  • IPE Quest June 2024
    Features

    IPE Quest Expectations Indicator - June 2024

    June 2024 (Magazine)

    Trump and Biden are both losing to undecided voters, a group that is now unusually large and may be sensitive to Trump’s legal troubles. Biden’s approval rate is below his score in presidential polls, while Trump’s score is the same in presidential polls and those measuring voters’ opinion of him. In the UK, the Conservatives took another drubbing in the local elections.

  • Cathy Braganza
    Asset Class Reports

    Fixed income: European high yield stands its ground

    May 2024 (Magazine)

    Investors flocked to the European junk bond market last year and despite a strong US economy, there is still appetite for European issuers

  • The yen hits lows not seen against the dollar since the 1990s
    Features

    US economy continues to surprise

    May 2024 (Magazine)

    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.  

  • Net sentiment equities
    Features

    IPE Quest Expectations Indicator - May 2024

    May 2024 (Magazine)

    EU parliamentary elections are approaching fast. Current polls predict a shift to the right, with the current centrist parties remaining dominant and the extremist right overtaking the Euro­sceptics. US President Donald Trump is still liable to be convicted in a criminal case, but his poll figures are rising. 

  • US bank failures through the past two decades
    Features

    Reluctance to drop interest rates disappoints the markets

    April 2024 (Magazine)

    US rates markets entered the year enthusiastically pricing in over 160 basis points of cuts through 2024, and have since had to push back hard on both the timing and magnitude of interest rate cuts now expected by year-end. 

  • Nordic Notes
    Opinion Pieces

    ATP at 60: no plans to retire the guaranteed pensions model

    April 2024 (Magazine)

    Now approaching retirement age itself, Danish statutory pension fund ATP is using its 60th birthday as an opportunity to reinforce the validity of its guarantee-based investment model.

  • Tatjana Greil Castro
    Interviews

    Muzinich’s Tatjana Greil Castro on credit fundamentals

    March 2024 (magazine)

    In one of the meeting rooms of the London office of Muzinich & Co are displayed a series of bond certificates from the past. 

  • Mirabaud Asset Management graph
    Features

    A bumper year for convertible bond issuance

    March 2024 (Magazine)

    The convertible bond market ended 2023 on a strong note with its main index – the Refinitiv Global Focus – returning 6% in the fourth quarter. The optimism has continued into 2024 on the back of reasonable valuations, historically low equity volatility and better opportunites. 

  • IPE Quest Expectations Indicator Feb2024
    Features

    IPE Quest Expectations Indicator - February 2024

    February 2024 (magazine)

    IPE’s monthly poll of market sentiment, asking 50 asset managers about their six to 12-month views on regional equities, global bonds and currency pairs

  • Europe faces an energy surprise in the winter without peace in Ukraine
    Asset Class Reports

    Debt investors face European uncertainty

    January 2024 (Magazine)

    High interest rates and inflation are the biggest concerns as recession looms

  • Finding diversification in a correlated world index
    Asset Class Reports

    Fixed income: Investors put weight behind bond markets

    January 2024 (Magazine)

    Exposure to bonds is rising at the fastest rate since the financial crisis, as investors focus on high-quality paper and the shorter end of the yield curve  

  • ​Martin Horne
    Interviews

    Barings: A bond investor for changing times

    January 2024 (Magazine)

    Martin Horne is the new global head of public assets at Barings bond investor, but he is a bond guy through and through.