fixed income

There has been a saying in markets for the last few years that fixed-income investments, favoured for their guaranteed returns and correlation benefits, have actually become “fixed-loss.” The driving factor was the threat (and now, realisation) that bond yields and cash rates were set to turn higher, reversing a four-decade tailwind. Naturally, these types of…

Grey swan risks abound in fixed income markets, with stickier than expected inflation and fresh lockdowns posing a threat to the orthodox view of a global recovery. The great inflation debate has gripped markets as they come to terms with the implications of the massive fiscal and monetary stimulus unleashed through 2020. But while many…

Multi-sector fixed income strategies are looking increasingly attractive as investors grapple with the implications of the global interest rate landscape. Manager selection is not so easy. A client paper by global manager search and research firm bfinance, titled ‘Multi-Sector Fixed Income: Back in Focus‘, details the complexity of the asset sub-class mix, even with the…

With records still being set by both equities and bond markets, investor uncertainty abounds. It would seem these times are made for both active management and experience. With bond markets, the possibility of higher inflation, especially in the US, prompts fears of rising interest rates and therefore falling prices, with investors looking further into the…

NSW Treasury Corporation, the state government’s $105 billion investment management offshoot, has commenced a restructure among its investment professionals, with 12 positions recently being advertised. The positions, which report up to previously announced heads of department, have been posted in the careers section of the TCorp website, with nine of the 12 being re-posted last…

Many investors may be wondering whether there is any value left in domestic fixed-income markets. While outright yields may look tight on a historical basis, we contend that spread sectors still provide attractive risk-adjusted returns relative to cash and government bonds. Indeed, there still exist a number of compelling risk/return opportunities for active managers to…

Given the global outlook is clearly one of a high degree of risk, it is surprising that all forms of risk assets seem to continually defy all the negative outlooks. Traditional asset allocations have been heavily tied to equity market growth and the continual decline in risk free interest rates over the past 30 years….