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.
Elissa Johnson, Portfolio Manager and secured loans specialist within the Secured Credit Team, provides a brief analysis of the current state of US and European loan markets, finding that they signal different outlooks.
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.
Just over two months has passed since markets dramatically sold off as the COVID-19 pandemic unfolded. There is much talk of the ‘new normal’ in every aspect of our lives, but what does this mean for fixed income? Nick Maroutsos, Dan Siluk and Jason England, co-managers of the Absolute Return Income strategy, answer some of the key questions.