July 02, 2019 Want to Reduce Downside Risk? A Barbell Strategy May Help Investors typically try to limit their downside risk in the late stages of the credit cycle. We think a credit barbell strategy can help. Fixed Income, Later in the Cycle Likes 0 SHARE Bookmarks
July 01, 2019 India: The New China for Global Growth? by Shamaila Khan, Mo Ji If demographics is destiny, then India may well be the next China in terms of economic growth. Yes, the two countries have significant differences, but they also have some interesting parallels. What’s holding India back, and what will help most to unlock its future growth potential? Economics, Emerging Markets, Fixed Income Likes 0 SHARE Bookmarks
July 01, 2019 European Automakers – Trade War Woes Add Pressure on Bonds by Robert Schwartz, Jørgen Kjærsgaard Trade war fears have dominated the headlines recently, but European automakers already face other serious headwinds. We believe bond investors should tread warily in this sector. Fixed Income, Trade Wars Likes 0 SHARE Bookmarks
June 27, 2019 Postcard from… West Africa by Adriaan du Toit When I landed in the brand-new airport in Nigeria’s capital of Abuja I was taken by the modern and cavernous nature of its terminal, a reflection of the country’s future ambitions. One of Africa’s best airports, in Accra, Ghana, also boasts a new terminal. Meanwhile, foreign travelers can apply online for an e-visa before they fly to Ivory Coast, pick it up at the airport when they land and emerge into the bustling streets of Abidjan quickly and efficiently. Fixed Income Likes 0 SHARE Bookmarks
June 26, 2019 Why a Barbell Income Strategy May Help Late in the Cycle Earning income without taking excessive risk is a balancing act—and it can be hard to pull off in the late stages of a credit cycle. A credit barbell strategy can help investors stay on their feet. Fixed Income, Later in the Cycle Likes 0 SHARE Bookmarks
June 20, 2019 Fed Looking for an Ounce of Prevention with Rate Cuts by Eric Winograd The Fed left its benchmark rate unchanged this week, but also signaled a very high probability of cuts later this year. Historically, rate cuts have been a sign of trouble—typically made in response to slower growth and rising unemployment. But this time around, growth data aren’t showing much weakness. What’s the story? Economics, Fixed Income, Later in the Cycle Likes 0 SHARE Bookmarks
June 20, 2019 Funding the Future: Putting Purpose in Your Bonds by Shawn Keegan Creating a sustainable fixed-income portfolio isn’t just about avoiding harm–it’s about doing good. The UN’s Sustainable Development Goals provide a road map for selecting companies that offer products and services that help the environment and create a more equitable, just world. Fixed Income, Responsible Investing/ESG Likes 0 SHARE Bookmarks
June 10, 2019 Hard Landing for China’s Growth? Six Factors to Watch by Mo Ji, Shamaila Khan Will China’s economy suffer a hard landing? That’s been a concern voiced by investors almost every year for the past 10 years. But now, with China’s incredible increase in debt and leverage (not to mention escalating trade wars), the possibility of a hard landing would have critical implications for all global markets. Economics, Emerging Markets, Fixed Income, Trade Wars Likes 0 SHARE Bookmarks
June 06, 2019 Trade Wars Likely to Change the Fed’s Interest-Rate Game Plan by Eric Winograd The trade war has taken a harsher turn, threatening to further dampen economic growth. We expect the Fed to respond with sizable rate cuts, but the timing and amounts are more speculative than normal. Why? Economic data haven’t yet taken a major downward turn, and there’s uncertainty over how the Fed will react. Economics, Fixed Income, Trade Wars Likes 0 SHARE Bookmarks
May 28, 2019 China and US: Tug of Trade War by Mo Ji, Shamaila Khan The latest spike in trade tensions between the US and China raises the stakes for the G20 meeting in late June. It also has some investors questioning how China will manage growth as well as fiscal and monetary policy to keep stability through these uncertain times. Economics, Emerging Markets, Fixed Income, Trade Wars, Volatility Likes 0 SHARE Bookmarks
May 21, 2019 US Housing Reform and the Future of CRTs by Michael S. Canter, Janaki Rao Credit risk-transfer securities have made the US mortgage market safer by shifting default risk from taxpayers to private investors. The latest attempt to overhaul the housing finance system isn’t likely to change that. Alternatives, Fixed Income, Policy & Regulation Likes 0 SHARE Bookmarks
May 14, 2019 Where Next? Our Post-Recovery Outlook for Emerging-Market Debt by Shamaila Khan Emerging-market bonds got off to a strong start after a difficult 2018. Are more gains possible? We think so, and volatility sparked by increased trade tension may provide a buying opportunity for selective investors. Emerging Markets, Fixed Income Likes 0 SHARE Bookmarks
May 08, 2019 The Three Risks Bond Investors Should Be Watching by Douglas J. Peebles Risk assets have bounced back this year after a dreadful finish in 2018, with a big assist from the US central bank. But are markets overlooking the potential for problems down the road? Fixed Income, Later in the Cycle, Rising Rates Likes 0 SHARE Bookmarks