Fixed Income Markets: The Last 100 Meters
Where should fixed income investors turn for opportunities?
As 2023 is drawing to a close, how should bond investors think about the coming year? This one has been chaotic, volatile, uncertain. Will the future be more of the same, or will fixed income allocators see a return to a calmer market regime? To help investors answer these questions, we have selected here some of the best insights into fixed income markets.
Is the Fed Model Ready for Higher Bond Yields? (PGIM IAS)
Looking at the past 50 years of data, has the Fed Model provided a reliable signal for future stock-bond relative, risk-adjusted, total return? Read more to find out.
Bonds Rally But Still Cautious On Equities (BNP Paribas AM)
Data shows that fixed income premia remain meaningfully above equity premia. Real yields are significantly below forward price/earnings ratios. But for how long?
Opportunities In Securitized (Jennison Associates)
Securitized assets, such as mortgage-backed securities, can offer interesting opportunities for allocators. This podcast explores the landscape of asset-backed securities.
All About Rates (Northern Trust Asset Management)
The ascent of yields on the long end of the U.S. Treasury curve has deservedly captured a lot of attention in recent weeks. Should investors expect a reversal of this trend?
Three Reasons Why We Prefer IG Credit To U.S. Treasuries (Capital Group)
For compliance reasons, this paper is only accessible in certain geographies
Investment grade corporate bonds have historically delivered better results than U.S. Treasuries over most periods. Is it sensible to expect more of the same going forward?
Why Higher Yields May Be Good For Many Retirement Investors (Vanguard)
For compliance reasons, this paper is only accessible in certain geographies
After the recent subpar performance of bonds, it may be tempting to wait in cash for the right moment to reinvest. But is this the right move?
Looking Ahead, The Case For Fixed Income Remains (Manulife IM)
For compliance reasons, this paper is only accessible in certain geographies
Bond market volatility remains elevated. Allocators are trying to read the mixed economic data to ascertain a path forward for growth and monetary policy.
Fixed Income Insights: Global – Dec 2023 (FTSE Russell)
For compliance reasons, this paper is only accessible in certain geographies
This timely paper provides allocators with the latest data on global bond markets from across the world.
Bond Funds in the Aftermath of SVB’s Collapse (FRBNY)
A highly interesting piece of analysis, this paper looks at the impact of SVB's collapse on bond funds. Did the crisis exaggerate bond fund outflows? If yes, to what extent?
Decomposition of Global R* (Bank Underground)
Recent increases in interest rates around the world, following a multi-decade decline, have intensified the debate on their long-run prospects.
Unlocking Climate and Development Finance (Citi GPS)
In the move towards a greener economy, Green Bond Frameworks are useful tools that show intention through alignment of priorities to an international framework.
