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The turn: high yield on the road to deleveraging
Tom Ross, within the Global Corporate Credit Team, looks at whether the trajectory of credit fundamentals supports the strength in high yield bond markets.
Commodity indices: The carbon offsetting evolution
How investors can utilise carbon futures, both as an active tool to help mitigate carbon emissions and as a potential additional source of returns.
Potential opportunities in legacy debt
Tim Winstone, corporate credit portfolio manager, considers the potential opportunities created by the approach of a key European Union regulatory deadline for legacy debt at banks.
Secular Tech Themes Still Intact
Powerful secular themes are still the main driver to long-term tech earnings growth.
Making sense of COVID-19 vaccine IP waivers
Why US support for waiving intellectual property protections for COVID-19 vaccines does not spell the end of biotech growth.
Equity market “internals” consistent with PMI peak
Sector and style behaviour within equity markets has become more defensive, consistent with a cautionary message for economic prospects from monetary trends, argues Simon Ward, Economic Adviser.
Why we own one of the most carbon intensive stocks in our investment universe
John Bennett and Tom O’Hara, European equities portfolio managers, explain why investing in so-called high ESG risk companies can prove to be beneficial as an active manager.
Chinese money growth still sliding – PBoC policy shift ahead?
Chinese economic growth has fallen short of forecasts so far in 2021 and monetary trends suggest further weakness without PBoC action, argues Simon Ward, Economic Adviser.
Access to medicine – the need for innovation, partnerships and data capture
Olivia Gull, Analyst on the Governance and Responsible Investment Team, examines how pharmaceutical companies are addressing the issue of inequitable access to medicine, specifically in low and middle-income countries.
Other companies join tech earnings party
With an economic recovery underway, cyclical-growth stocks are positioned to join secular-growth companies in propelling tech sector earnings higher over the midterm, states portfolio manager Denny Fish.
Global manufacturing PMI peak delayed, relapse still likely
Further PMI strength in April likely reflects temporary factors and the monetary signal for future direction remains negative, argues Simon Ward, Economic Adviser.
Profits forecasts at risk from waning government support
Corporation taxes may be on the rise but a withdrawal of pandemic-related subsidies is a more immediate threat to profits optimism, argues Simon Ward, Economic Adviser.