Fixed income
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Banking stress has created a yield premium for preferred securities
The banking crisis has weighed on related securities, including banks' preferred securities, which make up nearly half of the preferreds market. Our expert analysis examines what could be next and discusses how the flexibility provided by active management might benefit investors in this asset class.
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The pause before the pivot: positioning bond portfolios for an evolving policy landscape
After aggressive tightening from central banks and a broad repricing of risk, yields in the bond market are now higher than they've been in more than 15 years. The question investors now face is how to position portfolios given today's abundant opportunities—but also in light of the growing risks and looming policy shifts on the horizon.
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Time to move out of cash and short duration fixed-income strategies?
We could be about to enter a new phase of fixed-income markets—one that’s accompanied by a risk factor that had slipped under the radar while interest rates were on the rise: reinvestment risk. Learn more.
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Municipal bonds could provide stability in an uncertain market
As market uncertainty continues to linger, municipal bonds present an opportunity for investors to generate income without taking on a significant amount of risk.
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As market conditions tighten, can emerging-market debt weather the storm?
Recent events have increased the probability of a U.S. recession and could hamper global economic growth. We examine how this macroeconomic backdrop could affect emerging-market debt.
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A glass half full: bonds now offer better values than they have in years
With yields significantly higher today than they were just a year ago, finding income opportunities in the bond markets is no longer such a daunting challenge. The issue now for investors lies in positioning their portfolios for what comes next. We take a closer look at the stakes.
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Preferred securities: seeking to reduce risk with active management
Passive preferred strategies can offer an attractive stream of income without sacrificing quality but tend to be heavily concentrated in a few sectors. We explore how taking an active approach to this asset class might benefit investors.
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Revisiting global multi-sector fixed income in a postpandemic world
The critical challenge fixed-income investors face today is to find stable returns amid high inflation and rising yields—without taking on excessive volatility or risk. We explore some ways to do so.
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Higher yields could make 2023 a good year for emerging-market debt
Although uncertainty remains for the global economy, elevated yields and attractive valuations within emerging-market debt present a compelling entry point for income-sensitive investors who have the risk tolerance to ride out any near-term volatility.
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Preferred securities: finding an attractive entry point ahead of a Fed pivot
Preferred securities have the potential to do well in both recessionary and inflationary environments, making them uniquely suited for today's market environment. Although the asset class has been negatively affected by rising interest rates over the past year, we believe preferred securities could see a robust rebound if the Fed pivots policy.
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