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Central Banks vs. Credit Markets

  • ,  Senior Investment Writer |
  • 15 May 2023

central banks and credit markets

When will central banks normalise monetary policy?

Fixed income investors are in limbo right now – between monetary policy tightening and a pause, if not a stop, to the tightening cycle. Against this backdrop, questions over the health of the economy remain. Where can fixed income investors find opportunities for their portfolios? Check out the research below for in-depth analysis of recent developments underpinning the fixed income space.

The Evolution Of The Fixed Income Tradable Ecosystem (S&P Dow Jones Indices)

Fixed income indices have helped standardise the bond markets, taking the largely over-the-counter (OTC) market and creating defined units.

Gradually, Then Suddenly: Global Credit Markets Outlook (Man Group)

The dispersion between sectors, geographies and single names has created deep value opportunities for bottom-up credit investors.

What's Next for Global Credit? (BlackRock)

For compliance reasons, this paper is only accessible in the United States and Canada

The current macro backdrop warrants a rebuild of risk premia across a wide range of asset classes, with a preference for credit over equities.

Fixed Income: Performance Drivers As Peak Rates Approach (Lombard Odier IM)

For compliance reasons, this paper is only accessible in certain geographies

As the US rate-hiking cycle nears its peak, two positive drivers are coming into view for fixed-income investors. Find out more in this research piece.

Fixed Income Perspectives April 2023 (Capital Group)

For compliance reasons, this paper is only accessible in the UK & Europe

Tightening monetary conditions are starting to weigh negatively on growth, and fixed income investors are beginning to price in this less positive outlook.

25s From The Fed And ECB (BNP Paribas AM)

Will the fragile state of U.S. regional banks provide a reason for the Federal Reserve to halt its monetary policy tightening cycle?

Find Strength And Balance In Asian Credit (UBS AM)

Asian credit remains an attractive space for global investors, both within mainland China and across the other economies of Asia.

Asian High Yields Are Returning To Investors’ Radars (Eastspring Investments)

This research paper argues, among other things, that the credit fundamentals of Asian HY corporate issuers outside of China remain relatively stable.

The Asian International Bond Markets: Development and Trends (ICMA)

This in-depth report looks at how monetary policy and economic growth have affected the Asian international bond market, analysing data since 2006.