Renta fija

For the fixed income fanatics amongst us, June was always going to be one for the books with all three of the major central banks meeting, elections, and continued data.

From the potential for maintaining a status quo that has delivered stability and decent returns in the last few years, to the risks of renewed volatility during a potential second Trump presidency, our latest article from Fixed Income on the upcoming elections in Mexico provides a comprehensive analysis.

Chris Bowie, de TwentyFour Asset Management, nos relata sus deliberaciones en torno a la duración de las carteras de renta fija y nos demuestra que seguir la sabiduría popular sobre la duración podría salirles caro a algunos inversores este año.

La inversión de calidad en el sector de la renta fija consiste tanto en asegurarse de que se evita a los perdedores como en intentar elegir a los ganadores.

The first four months of this year have seen €11.6bn in gross Additional Tier 1 (AT1) issuance from European banks, across euros, dollars and sterling markets.

Following the aggressive rates rally at the end of 2023, Q1 saw notable gains, with inflation surpassing expectations. Johnathan Owen, Portfolio Management, highlights a more promising inflation outlook and its implications for the Investment Grade team. 

Douglas Charleston, Partner & Portfolio Management, concludes the first quarter in 2024 for the Asset-Backed Securities team, noting that while major economies remain resilient, the rates markets have undergone significant shifts, with central banks reassessing their rate cut expectations.

George Curtis, Portfolio Management, discusses the Multi-Sector Bond team's performance in Q1 2024, highlighting the improved clarity in deciphering central bank actions. With an anticipated central bank rate cut as the next move, the team remain confident in navigating the market's developments.

The end of rising interest rates in Europe and the US, attractive yields, and lower-than-expected default rates mean investors can get higher income without taking on as much risk as they had to in the past. In our view, less volatile, high quality fixed income products are poised for strong performance in 2024.

Durante la última década, los inversores se han visto obligados a ampliar su horizonte de inversión, pero muchos siguen pasando por alto la deuda de mercados emergentes en divisa local. Nuestro equipo de renta fija le ofrece cinco razones por las que debería plantearse otorgar a los mercados emergentes en divisa local una asignación más permanente en su cartera de inversión.

Almost a year ago to the day, we were in the midst of banking sector turmoil, which started off with regional banks in the US and spilled over to Europe, eventually culminating in the forced merger between Swiss banks UBS and Credit Suisse.  

Tras unos años complicados, los bonos han vuelto, y lo han hecho por la puerta grande. Nuestro equipo explica los motivos por los que creemos que los bonos están a punto de convertirse en una de las propuestas de riesgo-rentabilidad más atractivas de este nuevo año.