All High Yield Bonds articles – Page 2

  • Net sentiment bonds

    IPE Quest Expectations Indicator: September 2023

    September 2023 (Magazine)

    US officials are talking up the Ukrainian advance towards Melitopol, a sign that all is not well. Contrary to expectations, the biggest problem is not the Russian air force, but land mines. Trump’s legal problems are as worrisome as his inexplicable lead among Republicans. US abstinence in the struggle against climate change is a potential cause for a major trade war as the EU realises it must expand its regulations on importing ‘dirty’ products to prevent a free rider problem undermining its climate efforts. In the UK, Labour’s lead over the Conservatives remains crushing, making it difficult to claim the government has a popular mandate.

  • telescope binoculars search mandate

    Dutch pension fund in €250m global high yield search via IPE Quest


    Deadline is 15 September

  • IPE Quest Expectations Indicator August 2023

    IPE Quest Expectations Indicator: August 2023

    July/August 2023 (Magazine)

    Politics is on hold until September. Normally, markets do not care and analysts reduce their activity. A political crisis in the Netherlands shows the danger. There are warnings from all sides that climate measures are ever more urgently needed. Markets need a clearer view of which products govern- ments will support with market-shaping measures and when, especially in the face of a faltering pace towards climate goals. Early signs of problems include a lack of capital for innovative start-ups and the increasingly loud voices of climate change deniers.

  • Searching for yield – a role for junior capital

    Mandate roundup: Swiss pension fund tenders investment grade mandate


    Plus: Swedish Fund Selection Agency hands mandate to Style Analytics

  • S&P Capital IQ

    Fixed income, rates & currency: Strong labour markets surprise

    June 2023 (Magazine)

    Global purchasing managers’ index (PMI) data, which measures the state of the US economy, has been mostly strong, although manufacturing indices have been considerably weaker than services, perhaps reflecting their greater sensitivity to higher interest rates.

  • Datta, Tapan 2
    Special Report

    Outlook – Europe and the world: CIOs focus on bonds and quality stocks

    June 2023 (Magazine)

    With the prospect of weaker growth, volatility and higher inflation and rates, strategists argue for more selectivity in investments

  • IPE Quest expectations indicator

    IPE Quest Expectations Indicator: June 2023

    June 2023 (Magazine)

    Continued loud bickering between the Wagner Group and the Russian army is protecting Putin from both, worsening the outlook for peace, while there are multiple signs that military supplies are approaching exhaustion. The coalition supporting Ukraine is stronger than ever, showing increasing willingness to provide military aircraft. Yet the offensive expected in February has not started. In the US, Florida governor Ron DeSantis is damaging his position with an unproductive row with Disney, while Trump has moved closer to a prison term. Gas consumption in the EU is falling faster than expected, due to efficiencies like heat pumps, changeover to electricity and solar panels. Macron scored nicely by sponsoring the participation of Zelensky at the Hiroshima G7; Sunak failed to centre political attention on China.  

  • City of London
    Asset Class Reports

    Portfolio strategy – Fixed income

    May 2023 (Magazine)

    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.

  • Fiona Hagdrup
    Asset Class Reports

    Fixed income – A year for selectivity in high yield and loans

    May 2023 (Magazine)

    Patience might prove the be the watchword for the rest of 2023 in high yield

  • Kate Hollis
    Asset Class Reports

    Fixed income – New beginning for bond investors

    May 2023 (Magazine)

    A painful 2022 for fixed income means attractive opportunities and a possible normalisation in risk and return

  • IPE Quest Expectations Indicator May 2023

    IPE Quest Expectations Indicator May 2023

    May 2023 (Magazine)

    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. 

  • JOINER, Alex_012
    Opinion Pieces

    Australia: Super funds shift to fixed income

    April 2023 (Magazine)

    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.

  • Amitrano Giuseppe.1

    Ahead of the curve: Introducing the concept of a carbon risk-free curve

    April 2023 (Magazine)

    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. 

  • Finma sign Swiss financial markets regulator

    Emergency rules trigger AT1 bonds write down in UBS/Credit Suisse deal


    Pension funds holding AT1 bonds, also referred to as CoCo bonds, can suffer losses as a consequence of the decision taken by FINMA

  • architect architecture

    Inarcassa hedges equity exposure, resumes private markets allocations


    According to the new strategic asset allocation for 2023, Inarcassa is increasing its allocation to bonds by 3%, while reducing equities by 1.5%

  • Magnifying glass, search

    Dutch pension fund tenders €1bn mandate via IPE Quest


    Plus: A pension fund based in Switzerland is looking for an investment product that invests in long maturity Swiss non-government bonds

  • WTI crude oil prices (NYMEX), Feb 2003–Feb 2023

    From soft landing to no landing

    March 2023 (Magazine)

    Once again, the US jobs market has shown its capacity to surprise forecasters, if not astonish them. January’s non-farm payroll numbers came in way above consensus forecasts, swiftly reversing markets’ dovish take on that week’s central bank actions, with bond markets handing back much of their earlier gains.  

  • Philipp Bunnenberg
    Country Report

    Germany: Financing the Energiewende

    March 2023 (Magazine)

    German professional pension funds like ÄVWL and BVK are keen to support the energy transition process

  • IPE Quest Expectations Indicator March 2023

    IPE Quest Expectations Indicator March 2023

    March 2023 (Magazine)

    The next Ukrainian offensive will be in April at the earliest, as modern tanks will have arrived by then. US Republican pushback of ESG and climate-related investments are a new bone of contention in relations with the EU, already strained by the Trump presidency, and a bad sign for US-EU co-operation on China policy, an issue Japan seems to be ducking successfully. Aided by a soft winter, EU energy concerns have become quite manageable.

  • Chris Bikos_Redington

    High yield bonds: do your homework

    February 2023 (Magazine)

    Last year, European bond markets were struck by a toxic a combination of geopolitical, economic and market tensions. The picture has improved with the dawning of 2023, although the markets will continue to experience bouts of volatility and uncertainty will persist. High yield is back on the agenda, but selectivity and careful analysis will be key in identifying the right opportunities.