Latest Insights
Great expectations in inflation
Inflation is front of mind for investors. In this paper, portfolio managers Helen Anthony and Andrew Mulliner consider whether it is permanent or transitory.
ISG Insight: Thriving in the bond market
Recent months have seen macro and microeconomic fundamentals broadly improve and corporate bond markets are priced for this to continue. We dedicated an ISG meeting to consider what could go wrong and how fixed income markets might respond.
Breaking down risk within high yield
Some of our high yield and risk experts explain the different measures of risk in high yield bonds and show how a deeper understanding of them can reveal potential opportunities.
Taking cues from a “methodical” Fed
With valuations high and the global economy reopening, fixed income portfolio managers Dan Siluk and Jason England argue that investors should take a methodical approach in assessing what is next for the bond market.
Market and economy are giving Fed what it wants
Greg Wilensky and Jason England explain that even with an update to its interest rate projections that is perhaps overdue, the Fed can afford to be patient.
Forecasts can fall short; humility and diversity are key
While forecasting interest rates is difficult, humility, diversity and careful portfolio construction may help improve risk-adjusted returns.
Opportunities and risks in a multi-speed recovery
Global Bonds Portfolio Managers Dan Siluk and Jason England explain how an asynchronous global recovery should lead to dislocations and opportunities in fixed income markets.
Credit market’s brave new world
Can corporate bond markets sustain their improved trajectory as support measures are lifted?
Dystopia 2.0? Assessing the post-COVID landscape
COVID-19 propelled the pace of structural change around the globe. What will the world look like going forward?
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.
Deconstructing recent US inflation surge
Andrew Mulliner, Head of Global Aggregate within the Global Bonds Team, remarks on the substantial surge in core US CPI inflation in April and explains why he does not consider this a change in the secular inflation regime.
Reflation train — arriving on time
Jenna Barnard and John Pattullo, co-heads of Strategic Fixed Income, dissect the reflation narrative, sharing interesting views that go somewhat against consensus.