Renta fija

Bank bonds have been amongst the best performing asset classes in fixed income over the last few months, doing their bit in proving their strength.

Luc D’hooge y Wouter Van Overfelt repasan la evolución del Vontobel Fund – Emerging Markets Debt y del Vontobel Fund – Emerging Markets Corporate Bond, y comparten sus previsiones para lo que queda de 2023.

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.

Tras una década turbulenta, las estrellas vuelven a favorecer a los bonos de mercados emergentes en divisa local. El gestor de cartera Carl Vermassen opina que hay buenas razones para pensar que su buena rentabilidad en lo que va de año no es solo cuestión de suerte.

Las decepciones vividas el año pasado en el mercado de bonos parecen ya muy lejanas. Ahora, los inversores nos indican que vuelven a ser alcistas con respecto a la renta fija.

¿Para qué deben prepararse los inversores tras la reunión de esta semana de la Reserva Federal estadounidense? Nuestro Head of Corporate Credit, Mondher Bettaieb Loriot, sugiere que es probable que los funcionarios de la Fed hagan una pausa en las subidas de los tipos de interés ante la desaceleración de la inflación y el crecimiento. Sin embargo, a este lado del Atlántico, es posible que el Banco Central Europeo todavía no esté listo para pisar el freno.

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.