Fixed income
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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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Technical headwinds create a silver lining for municipal bonds
Municipal bonds have been under pressure this year as rising yields have caused a period of negative performance, spurring net outflows for the municipal bond market. However, this market stress has also created an opportunity for investors, with the muni/U.S. Treasury ratio signaling an attractive entry point for muni bonds.
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Securitized credit—an overlooked source of diversification
The characteristics of securitized debt make the asset class well positioned to supplement core fixed-income exposure, even if interest rates continue to rise.
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Municipal bonds: an attractive opportunity in an uncertain time
Municipal bond yields are at their highest level in years, offering investors a compelling income stream while maintaining a high credit quality.
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As the Brazil election heads to a runoff, the country’s fundamentals remain solid
Aggressive action by Brazil's central bank has caused inflation to roll over and allowed the Brazilian real to be one of the few currencies to climb against the U.S. dollar so far this year.
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Three overlooked opportunities in today’s markets
What do central banks, commodity producers, and emerging markets have in common? They may harbor overlooked opportunities for investors willing to look beyond consensus views.
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The high-yield market isn't signaling a recession
Through interest-rate volatility and higher inflation so far in 2022, we haven't seen a reason to abandon high yield. If anything, the higher-quality segment of this market could help boost a portfolio's risk-adjusted return potential.
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Despite macro challenges, emerging-market high-yield credit shows potential
There's been no shortage of challenges this year in fixed income. But we believe today's valuations in high-yield emerging-market credit may represent an attractive entry point for investors. See why.
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