Sharing our convictions

With Fed rate hikes continuing and the economy progressing into late cycle stages, Mark Holman presents his expectations from the Fed going into the second half of the year and explains why he believes Treasuries can provide the protection investors may need.

For all of these observations, there is one common observation – yields did not stay at these high levels for very long.

After two COVID-hit years last week the European ABS market decamped once again to Barcelona for the 26th annual AFME & IMN Global ABS conference.

Head of Macro Strategy Platform Yann Lepape and his team give their latest views on the Fed’s acceleration in their tightening path to dampen demand, the EU’s concerns about EMU fragmentation, and EM outflows.

After 18 months of difficult headlines Credit Suisse could ill afford more negative press, and we therefore welcomed its decision to refinance its 7.125% Additional Tier 1 (AT1) bond last week at its first call date.

In fast-moving markets there is no perfect time to provide an update on valuations.

How can you find growth in times of panic? Difficult markets are not to be feared. Investors need an optimistic resolve and a clear roadmap: identify businesses with sustainable and predictable earnings streams, pricing power, and lower leverage, and avoid stocks trading at exorbitant multiples that are vulnerable to higher discount rates.

Emerging market bond investors need not fear rising US Treasury yields. Senior Portfolio Manager Thierry Larose shows you why.

Colombia has the most vibrant economy of Latin America with a long history of sound macroeconomic policies, leaving the country unscathed from large economic collapses and hyperinflation. Thierry Larose shares his views ahead of the presidential election.

Head of Macro Strategy Platform Yann Lepape and his team give their latest views on oil prices, the ECB pivot and skyrocketing Central European inflation.

Inflation rates have been rising for over a year now. While the increasing levels may eventually moderate, inflation is still likely to be with us for some time, especially with the Russian invasion of Ukraine exacerbating post-Covid supply constraints.

Given the widening of spreads in Additional Tier 1 (AT1) bonds, in line with general spread widening across all of credit, the prospect of AT1s not being called on their first call date is beginning to generate a few headlines again.