While the current recession has severely impacted restaurants in the US, the ‘fast food’ sector has navigated the challenging environment relatively well. The Janus Henderson securitised products and corporate credit teams discuss the reasons why, and the opportunities for bond investors.
Tom Ross, corporate credit manager, discusses conditions in the high yield market, including the default outlook, the importance of monetary and fiscal stimulus and whether high yield can tolerate inflation.
ABS is an attractive and yet under-utilised asset class with a number of differentiating features. The following paper provides a brief examination of this specialist asset class, outlining the case for its appeal as an investment.
Head of Global Bonds Nick Maroutsos describes the Fed decision in July to hold rates steady as a non-event given that the central bank, through its actions, has already proven its willingness to do whatever it takes to support the US economy during this unprecedented period.
Colin Fleury, Head of Secured Credit, London, and Denis Struc and Ian Bettney, portfolio managers within the Secured Credit Team, discuss the merits of an allocation to asset‑backed securities (ABS) within diverse multi‑sector credit portfolios.
With economies gradually reopening and markets suggesting better times ahead, credit portfolio managers James Briggs and Tim Winstone consider whether investors should be increasing their allocation to investment grade credit.
Nicholas Ware, Portfolio Manager in the Strategic Fixed Income Team, explains why he believes the second half of 2020 will see lower net issuance in corporate bond markets following the dizzying volume of new bond issues in the first half.