Obligations

Quel sera l’environnement de crédit en 2024? Et quels sont les fondamentaux pour les obligations d’entreprises des marchés émergents cette année? Wouter Van Overfelt et Mondher Bettaieb-Loriot abordent des sujets d’actualité en matière de titres obligataires sur les marchés émergents et développés, respectivement.

La définition de la qualité s’est élargie et connaît différentes interprétations, la performance des stratégies de qualité divergeant parfois fortement selon les conditions de marché.

Yesterday was an eventful day for markets. We started off with inflation data in Europe, followed by an earnings release by New York Community Bank that showed large provisions in their commercial real estate loan book, before moving onto the Fed’s Federal Open Market Committee meeting

January is on track to be a standout month for EM debt issuance. Our Fixed Income boutique’s Sergey Goncharov reviews which sovereigns and corporates are issuing EM debt and takes the pulse of the current environment that they’re operating in.

A member from our Multi-Sector Bond team provides an update on the recent events which occurred during Q4 2023, highlighting the volatility in the treasury market which dominated the beginning of the fourth quarter, and the turnaround in November, which saw US inflation fall below expectations and labour data weaken.

Aza Teeuwen reflects on a busy quarter for the Asset-Backed Securities team, highlighting the primary deals and trading that occurred all the way through the quarter until the end of December, the performance of ABS for the quarter, and his confidence that ABS is in a good position to carry its strong momentum into 2024.

After a tumultuous year for fixed income, government bond markets were finally delivering a story of falling inflation in Q4 2023. In our Investment Grade quarterly update, Gordon Shannon reflects on Q4, and in particular the month of December which proved to be one of the strongest months of the year, as hopes of multiple rate cuts in 2024 were accelerated.

Beaucoup négligent les critères ESG sur les marchés émergents, et passent ainsi à côté de certaines opportunités: en réduisant la volatilité, ces critères peuvent rendre la dette des marchés émergents plus attrayante en dépit des risques politiques et autres qu’elle peut présenter.

Douglas Charleston, believes 2024 will continue to provide the carry that has been so welcome, but see market growth and diversity continuing to make European ABS increasingly scalable. 

Il est probable que nous ayons atteint le pic des taux d’intérêt, avec une désinflation qui ouvre la voie à un ralentissement économique. Notre Fixed Income Boutique vous explique pourquoi dans ses perspectives pour 2024.

After two years of grappling with an ailing property market that has weighed on growth in the world’s second-largest economy, China’s government has pledged stronger fiscal measures and signaled more flexible monetary policy. Will they move the needle?

After a horrible year for financial markets in 2022, the macro-outlook for 2023 had a lot of consensus views, with most predicting a much better year ahead, helped by supportive rate cuts from central banks and positive returns from both government bonds and credit.