Fixed income

In the Global High Yield Outlook, portfolio manager Stella Ma, Senior Credit Analyst Jim Stahl and credit Analyst Rrezart Rexhepi make the case for why they believe the fourth quarter is the time to begin gradually scaling into high-yield bonds.

In their latest Tribune, Head of Macro Strategy Platform Yann Lepape and his team reveal how they are positioning their portfolios on the back of the UK’s mini-budget crisis, the drop in US house prices and EM debt outflows.

With developed market central banks determined to hike rates to control inflation, many economists think a global recession may be around the corner. But some emerging markets are further ahead in the current economic cycle, while a pickup in China’s growth could cushion the blow from recessions elsewhere.

In this Autumn Credit Outlook, the Corporate Credit team provide their insights on the upcoming months for corporate bonds with a focus on solid investment-grade companies.

With central banks speeding though their hiking cycles, a return to rates stability could allow investors to reap the rewards of bond yields that are unusually high for this point in the cycle.

The first round of Brazil’s general elections will take place on Sunday, October 2nd, with former president Luiz Inácio Lula da Silva and the current president Jair Bolsonaro facing each other. Thierry Larose, Portfolio Manager at Vontobel, discusses how markets are viewing the two candidates.

The Corporate Credit team reveals how they plan to navigate the fourth quarter of 2022

Are central banks overreacting? Jobs data may offer a hint. The accelerated Fed tightening has shown a mix of immediate and lagging effects. There are also emerging markets opportunities for investors willing to look through the short-term noise – the view from Head of Macro Strategy Platform Yann Lepape and his team.

Partner and portfolio manager, Eoin Walsh, delivered the keynote address at the TwentyFour Fixed Income Conference in London on September 13.