Market GPS
Investment Outlook 2021
What should be on the radar for investors in 2021? Market GPS helps direction-set with a video summary, in-depth asset class analysis and our latest portfolio manager views.
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With credit spreads gradually tightening, returns will likely become less about market direction (beta) and more about identifying individual opportunities (alpha).
Why an expected and predictable cyclical reflation should not be confused with a longer-term structural breakout of inflation.
A far-reaching fixed income discussion on credit market resilience, liquidity versus solvency risks, recovery prospects and the dilemma for central banks in 2021.
Portfolio Manager Seth Meyer discusses how a return to normal in 2021 should be supportive for credit markets.
Jenna Barnard and John Pattullo explain how credit markets navigated COVID-19 with relative ease and why corporate bonds remain in the sweet spot for 2021.
Portfolio Manager Nick Maroutsos explains why bond investors should be cautiously optimistic as we enter 2021.
Tom Ross, corporate credit portfolio manager, discusses the high-yield bond outlook where an improving economy should help tighten credit spreads but may spark concerns about monetary tightening.
Assessing the risks of inflation against a backdrop of economic recovery and fiscal and monetary stimulus.
A counterpoint to the bear argument that credit is set to face a solvency crisis by explaining that liquidity is solvency.
A discussion of conditions in the global high-yield market, including the default outlook and the importance of monetary and fiscal stimulus.