What is ‘normal’?

by Andrew Mulliner, CFA

2 days ago

In a post quantitative easing (QE) world, central bank balance sheets in many countries have expanded to extreme levels, while many commentators have despaired that these balance sheets will never return to ‘normal’ levels again. Andrew Mulliner, Portfolio Manager Global Bonds, asks: just what is ‘normal’?

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Secured Credit Insight: secured loans — the hidden benefit of negative rates

by 

2 weeks ago

In this short view from the Secured Credit desk, Oliver Bardot, Associate Portfolio Manager within the Secured Loans Team, briefly outlines the distinctive aspects of the European and US loan markets, exploring the impact of negative interest rates in Europe on loan prices in this market.

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Quick view: (ECB) shock and bore

by Andrew Mulliner, CFA

2 months ago

The European Central Bank (ECB) meeting on 25 July was billed as the most important ECB meeting of the last few years. Andrew Mulliner, Portfolio Manager within Global Bonds, reflects on the outcome of this highly anticipated session.

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Secured Credit Insight: new EU securitisation regulations made simple

by Ed Panek

2 months ago

​With the new EU securitisation regulations in force since the beginning of the year, Edward Panek, Head of ABS Investment in London and a member of the Secured Credit team, examines the main features of the regulation, sharing the team’s interpretation of the rules.

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Secured Credit Insight: EU directive for insolvency and restructuring

​​Following almost two and a half years of consultations, the European Council (EU) formally adopted new rules on business insolvency on 6 June 2019. Secured loans specialists within the Secured Credit Team, Elissa Johnson, Portfolio Manager and, Guillaume Bezard-Falgas, Associate Portfolio Manager, share their views and shed light on the new directive.

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Bailing out the Titanic with a teaspoon (or why hope is a strategy for the ECB)

by Andrew Mulliner, CFA

3 months ago

​The 6 June meeting of the European Central Bank effectively marked the beginning of the end of its president’s reign. Andrew Mulliner, Portfolio Manager within Global Bonds, reflects on the outcome of the meeting and what the future holds with Draghi on his way out, an empty toolbox at the ECB and weakening global growth.

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EU elections: all thunder and no lightning

by Ollie Beckett

4 months ago

European smaller caps Porfolio Manager Ollie Beckett responds to the EU elections result, outlining his views on the significance for European equities, and what he sees as the areas of interest in the months ahead.

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European elections: centrists struggle but no breakthrough for the far-right

by Bethany Payne, CFA

4 months ago

The European Parliament elections on 23 May produced damaging results in varying degrees for both the European Parliament and the main parties in the UK. Bethany Payne, Portfolio Manager, Global Bonds, explains the main points and provides a brief assessment of the impact on the markets.

 
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How did they miss it? Central bankers and the global economic downturn…

by Jenna Barnard, CFA

5 months ago

​Jenna Barnard, Co-Head of Strategic Fixed Income, explains how and why so many major central banks have been wrong-footed on economic growth in their countries and around the globe.

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Leveraged loans — a look behind the headlines

by Elissa Johnson

5 months ago

​The financial press has not been short of alarming headlines on leveraged loans in recent months. Elissa Johnson, Portfolio Manager within Janus Henderson’s specialist loans team headed by David Milward, clarifies some of the negativity in the messages from a European perspective...

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European high yield – markets in focus

by Tom Ross, CFA

5 months ago
With central bank policy in flux and conflicting economic data, Tom Ross, Corporate Credit Portfolio Manager, takes a look at the market conditions facing investors in European high yield bonds.
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Brexit — Theresa May’s final dance?

by Bethany Payne, CFA

6 months ago

Bethany Payne, Portfolio Manager, Global Bonds, assesses the latest twists and turns in the path to Brexit.

 
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European equities: a growing watch list of opportunities

by Jamie Ross, CFA

6 months ago
In this video update, European equities manager James Ross outlines his ‘balanced, slightly bullish’ views on the European market. While investors’ attention has been caught up by political theatrics, escalating trade tensions and signs of slowing growth across the globe, James continues to focus on good quality businesses that he believes can consistently deliver a high return on capital over time.
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Brexit — remainers have their day but threaten long delay

by Bethany Payne, CFA

6 months ago

Bethany Payne, Portfolio Manager, Global Bonds, summarises the latest developments in the parliamentary votes on the Brexit withdrawal agreement, the terms by which the UK will leave the European Union, looking at their potential meaning, future outcomes and impact on the markets. 

 
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Brexit’s 11th hour — options and possibilities

by Bethany Payne, CFA

6 months ago

UK Prime Minister, Theresa May, will attempt — for the second time — to get her deal through parliament on Tuesday 12 March, followed by two more votes on 13 and 14 March, if the first fails. Bethany Payne, Portfolio Manager, Global Bonds, shares her thoughts on the likely scenarios and options ahead of the vote next week.

 
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Brexit’s 11th hour — options and possibilities

by Bethany Payne, CFA

6 months ago

UK Prime Minister, Theresa May, will attempt — for the second time — to get her deal through parliament on Tuesday 12 March, followed by two more votes on 13 and 14 March, if the first fails. Bethany Payne, Portfolio Manager, Global Bonds, shares her thoughts on the likely scenarios and options ahead of the vote next week.

 
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Quick view: Brexit ball in the EU’s court

by Bethany Payne, CFA

8 months ago

The UK parliament voted on several amendments to the Brexit withdrawal agreement yesterday — only two were passed. Bethany Payne, Portfolio Manager, Global Bonds, shares her thoughts on the outcome of the votes and the implications for the next round of negotiations on Brexit. 

 
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Inflation: is that it?

by John Pattullo

8 months ago
John Pattullo, Co-Head of Strategic Fixed Income, discusses the range of factors, which in his opinion, indicate that current inflation is much more cyclical than structural.
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Quick view: hard to see a straight path to a final Brexit deal

by Bethany Payne, CFA

8 months ago

In an historic defeat for the UK government, the Prime Minister’s Brexit deal was rejected by a margin of 432 to 202 on 15 January 2019. Bethany Payne, Portfolio Manager, Global Bonds, shares her thoughts on the outcome of the vote.

 
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Flexibility in a low yield world

by Andrew Mulliner, CFA

9 months ago
Andrew Mulliner, Portfolio Manager within Global Bonds shares his views on where we are in the economic cycle, pointing out that the rising rates environment is not a global phenomenon.
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