Complex fixed income markets offer plenty of rewards

Trillions of U.S. dollars of debt: Where are the opportunities?

In its 2025 fixed income outlook, Morgan Stanley wrote that, “The fixed income landscape presents a complex interplay of macroeconomic conditions, sector-specific dynamics, and geopolitical uncertainties." Since then, the fixed income world has become even more complex. Explore the insights below to help you navigate this.

Global Debt Report 2025 (OECD)

Global debt markets are facing a transformation impacting the very structure of economic activity across the world.

The Case for Convertible Bonds in an Insurance Portfolio (Manulife IM)

For compliance reasons, this paper is only accessible in certain geographies

Convertible bonds are a type of debt security that can be converted into a fixed number of shares of the issuer's common stock at a predetermined price.

EM Debt Restructurings: A Year of Resilience and Innovation (MetLife IM)

An in-depth and pragmatic piece on the future fortunes of EM debt, this report is a must-read for fixed income investors.

Beyond Misconceptions: Why Asia-Pacific Investment Grade Is a Hidden Gem (KKR)

For compliance reasons, this paper is only accessible in certain geographies

APAC is not a monolith. Its economies move at different paces, creating diversification benefits for global investors.

Fortifying Portfolios with Private Real Estate Credit (Brookfield)

Private commercial real estate credit is in high demand around the globe. Find out what this asset class has to offer investors.

Rethinking Monetary Policy (Institute of Economic Affairs)

The Bank of England’s failure to anticipate inflationary trends has undermined trust in its decision-making.

What’s Next for EM Debt? 8 Questions to Consider (William Blair)

Importantly, fundamentals of the EM financial sector remain positive, with rising interest rates only having a limited impact on asset quality.

Potential Opportunities and Risks of Private Credit (S&P Dow Jones Indices)

Private credit involves lengthy lock-up periods (typically seven to 10 years) and illiquidity, limiting investors’ ability to exit positions.

Perspectives On Private and Liquid Credit 2025 (Antares Capital)

The U.S. economy continues to demonstrate strength as we enter 2025, reinforcing the view that the Fed will be successful in achieving a soft landing.

Would You Rather Lend to the U.S. Government or Microsoft? (DoubleLine)

Is the fiscal state of the U.S. government getting much worse than it is anticipated? This paper argues that it is.

Will Asset Managers Dash for Cash? (Bank of Canada)

Changes to the regulation of asset managers could reduce their exposures to liquidity risks that have been growing in recent years.

Using Inflation Data for Systematic Gold and Treasury Allocations (Quantpedia)

This study investigates the intricate relationship between inflationary pressures and the valuation of key financial assets, specifically gold and treasury bonds.