Insights Topic
Fixed income
Fixed Income Boutique
Fixed Income Quarterly
Each quarter, our experts from the Fixed Income Boutique deliver actionable insights to help you make sense of the global fixed income universe. They uncover key risks, opportunities, and trends.
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Flash Fixed Income
Taking inspiration from the “flash” economic indicators that offer markets a preview of the final numbers, Flash Fixed Income is a monthly outlook that keeps investors ahead of the curve by dissecting the major trends across the global bond markets.
TwentyFour
Fixed vs. Floating: Where’s The Yield?
If floating vs. fixed is no longer the most pressing question, then investors should be more focused on where they get the best credit spread.
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Fed’s Revised Consensus Statement
The tweak that we will read so much about with respect to the inflation goal is that the new policy can be viewed as a “flexible form of inflation targeting”, meaning that following periods when inflation has been running below 2pc, appropriate monetary policy will likely aim to achieve inflation moderately above 2pc for some time.
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Government Debt Has Exploded. Does It Matter?
Given most countries are going through the same issues and their fiscal expansions are justified, the relative value has not changed that much.
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The US Bond Market Recovery has also Outpaced Equities…with a Twist
Yesterday we showed that for European investors, what we speculated on back in March has come true; that the bond market did recover its losses far more quickly than equities, as shown below.
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Ratings Migration Pointing to Lower Defaults
A trend of negative ratings migration has historically been a consistent precursor for a pick up in the default rate of publicly rated debt.
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The Bond Market Recovery has Outpaced Equities
The clear opportunity within IG credit from our perspective, without having to take excessive risk, is to buy legacy Bank and Insurance IG debt.
