Anleihen

Luc D'hooge und Wouter Van Overfelt bewerten die Entwicklungen des Vontobel Fund – Emerging Markets Debt und des Vontobel Fund – Emerging Markets Corporate Bond und geben ihre Prognose für das übrige Jahr 2023 ab.

What level of risk are investors willing to take? As central bank rates hike and a soft landing narrative makes its way into analysts’ forecasts, Eoin Walsh takes a look at what affects this has on investment risk and reinvestment risk.

Jack Daley takes a look into the economic events that have influenced the investment grade markets in Q2. He then goes on to explain why he believes investment grade fixed income offers the most attractive risk-adjusted returns currently available.

Douglas Charleston believes European ABS has once again provided a rare bright spot for fixed income. He explains how, from Q1 to Q2, focuses have shifted, and delves into different macro-economic variables affecting the ABS market.

In our MSB update, a member of the Multi-Sector Bond team reflects on the banking turmoil that occurred in Q2, as well as happenings around the US debt ceiling and global inflation. She then goes on to discuss the ways the MSB team have responded to Q2 events.

What sort of landing will the global economy experience? With the recent release of the US CPI report, inflation has been on a downward trend and the resilient activity data has continued to surprise many. This report has acted as a trigger of sorts for increasing calls for a soft landing.

Nach einem turbulenten Jahrzehnt könnten Schwellenländeranleihen in Lokalwährung bald wieder in neuem Glanz erstrahlen. Laut Portfoliomanager Carl Vermassen gibt es gute Gründe für die Annahme, dass ihre Outperformance in diesem Jahr mehr war als ein einmaliges Ereignis.

Die Enttäuschungen des letzten Jahres über die Anleihenmärkte scheinen nun weit hinter uns zu liegen, und Anleger betrachten Anleihen laut unserer Umfrage wieder optimistischer.

Worauf sollten sich Anleger im Vorfeld der Sitzung der US-Notenbank Fed in dieser Woche einstellen? Unser Head of Corporate Credit, Mondher Bettaieb Loriot, geht davon aus, dass die Fed bei den Zinssteigerungen wohl erst einmal eine Pause einlegen wird, da Inflation und Wachstum weiter sinken. Auf dieser Seite des Atlantiks könnte die Europäische Zentralbank EZB jedoch noch nicht bereit sein, auf die Bremse zu treten.

What can we expect from central banks this week? Felipe Villarroel looks at how recent CPI prints in the Eurozone and in the United States are expected to influence upcoming central bank monetary policy decisions.

What have we learnt from the ECB’s Consumer Expectations Survey? Felipe Villarroel discusses how latest changes in the consumer’s expectations of the economy reflect that the ECB’s monetary policy is actually working.

In recent weeks the US debt ceiling has been dominating headlines with investors focused on the imminent threat of a US default which would be extremely unnerving for global markets. We look at the wider implications facing the US economy.