Asset class: Fixed Income

Inflation: is that it?

by John Pattullo

1 day 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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Plotting a course through volatile bond markets

by Nick Maroutsos

1 day ago

​Nick Maroutsos, Co-Head of Global Bonds, explains why the US Federal Reserve (Fed) will likely not meet its 2019 interest rate forecast and how investors should position themselves for a more subdued rate path.

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Risks and opportunities in Agency MBS

by John Kerschner, CFA

1 day ago

​A number of factors are set to influence agency mortgage-backed securities (MBS) in 2019. John Kerschner, Head of US Securitized Products, discusses the market dynamics and the risks and opportunities on the horizon.

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Cracks in the Credit Cycle

​Portfolio Managers Darrell Watters and Mike Keough identify signs that the credit cycle has turned and highlight what to watch in the year ahead.

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Lucky number (twenty) 8?

by Jay Sivapalan

1 day ago

​As Australia reaches for its 28th year of uninterrupted economic growth — the longest on record among developed countries — the question on investors’ minds is whether this run is about to end. The Chinese have long considered the number eight as lucky. Is the ‘eight’ in 28 lucky for Australia? Jay Sivaplan, Co-Head of Australian Fixed Interest shares his views.

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High yield - navigating a slowdown

​Credit managers Tom Ross, Thomas Hanson and Seth Meyer contrast the current backdrop for high yield with previous tightening cycles, indicating that dispersion can be the friend of the active investor.

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Themes in focus

by James Cielinski, CFA

1 day ago
Jim Cielinski, Global Head of Fixed Income, provides his perspective on some of the key macroeconomic factors that are driving fixed income markets.
 
 
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Quick view: hard to see a straight path to a final Brexit deal

by Bethany Payne, CFA

1 week 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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Parsing for nuance in the Fed’s statement

by Ryan Myerberg

1 month ago
On Wednesday 19 December, the US Federal Reserve (Fed) raised interest rates for the fourth time this year by 25 basis points as widely expected. Ryan Myerberg, Portfolio Manager within the Global Bonds team, examines the outcome of the meeting and the reaction in the markets.
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Fresh focus on fundamentals

by Jennifer James

1 month ago
Jennifer James, Lead Analyst within the Emerging Markets (EM) Credit team, provides an overview of what is driving markets within EM. She explains why the oil price is often misunderstood, why a quieter political calendar in 2019 could see a fresh focus on fundamentals and the areas that the team is avoiding and favouring in the short term.
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The politics of rising rates

by Nick Maroutsos

1 month ago
Nick Maroutsos, Co-Head of Global Bonds, looks at the factors that are driving the credit cycle. He also explains why he believes the US Federal Reserve will want to avoid moving interest rates into restrictive territory and the strategies that can be adopted when investing in a rising rate environment.
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Five years on: Janus Henderson Horizon Global High Yield Bond Fund

​The Janus Henderson Horizon Global High Yield Bond Fund reached its five year milestone on 19 November 2018. Discover what has been behind the strong performance in the fund and the managers' outlook for the near term

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QE is dead, long live enhanced forward guidance and reinvestments

by Andrew Mulliner

1 month ago

​Andrew Mulliner, portfolio manager within the Global Bonds team, reveals an inconsistency within the European Central Bank’s decision to end quantitative easing.

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Flexibility in a low yield world

by Andrew Mulliner

1 month 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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Strategic Fixed Income: visible signs of a late-cycle world
A concoction of elements all point to the fact that the global economy is now definitively in the late-cycle stage, while narrative fallacies flourish in the markets. 
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Perspectives on US high yield

by Seth Meyer, CFA

2 months ago
In this video, Portfolio Manager Seth Meyer discusses the US high-yield fixed income market, including how it has changed compared with ten years ago and the current health of fundamentals and technicals within the sector.
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Perspectives on the credit cycle

by Tom Ross, CFA

2 months ago
Tom Ross, credit portfolio manager, discusses what the end of the credit cycle might look like. He looks at opportunities amid spread widening, the potential risk of BBB downgrades and how the rise of dispersion is affecting different sectors and individual credits.
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BBB securities: a reach for yield with long-term repercussions?
As investors seek higher returns following a long period of very low rates, issuers are taking advantage by issuing longer-term debt for lower-rated securities, notably in the BBB sector. In this video, Portfolio Managers Nick Maroutsos, Dan Siluk and Jason England discuss the risks presented by a large influx of BBB-rated securities.
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Global Bonds: three big themes to shape the markets in 2019

by Andrew Mulliner, Ryan Myerberg

2 months ago

​Andrew Mulliner and Ryan Myerberg, Portfolio Managers within Global Bonds, share their thoughts on the risks and opportunities ahead for fixed income investors in 2019, which they believe revolve around three big market themes.

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Going global for income generation

by Nick Maroutsos

2 months ago
Nick Maroutsos, Co-Head of Global Bonds, explains why – despite the Federal Reserve’s history of dovishness – higher interest rates are likely to stay in the US. He suggests bond investors need to react accordingly, potentially looking globally for the most attractive risk-adjusted income opportunities.
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