Obligations

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 et Wouter Van Overfelt analysent les évolutions des Vontobel Fund – Emerging Markets Debt et Vontobel Fund – Emerging Markets Corporate Bond et présentent leurs prévisions pour le reste de l’année 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.

Après une décennie tumultueuse, les étoiles semblent prêtes à favoriser à nouveau les obligations des marchés émergents en monnaie locale. Selon, Carl Vermassen, gestionnaire de portefeuille, il y a de bonnes raisons de penser que leur surperformance depuis le début de l’année n’est pas qu’une question de chance.

Les déceptions du marché obligataire de l’année dernière semblent désormais bien loin et les investisseurs nous disent qu’ils sont à nouveau optimistes quant aux titres obligataires.

Réunion de la Fed cette semaine: à quoi les investisseurs doivent-ils s’attendre? Selon notre Head of Corporate Credit, Mondher Bettaieb Loriot, les responsables de la Fed pourraient interrompre les relèvements, l’inflation et la croissance continuant à baisser. Cependant, en Europe, la BCE pourrait ne pas déjà vouloir serrer les freins.

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.