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The Wide World of Fixed Income

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Latest Updates From Across the Fixed Income Spectrum

Did we get a bit complacent with fixed income? The one-way bet? Maybe not, but the interest rate hammering that bondholders have had to take has certainly focused attention on finding the risk-reward nuggets that still exist, and considering new debt market opportunities.

Developed Market Sovereign Bonds: ESG factors under the spotlight (MFS)

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

ESG factor integration into sovereign debt analysis is picking up speed – especially important given sovereign bonds make up the biggest single group in the fixed income universe.

Dealing With Income Bias in Sovereign ESG Scores (FTSE Russell)

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

This report shows how low-income economies would have higher ESG scores if not for an income bias favouring higher income countries. The bias is found to be strongest for G scores.

How Insurers Can Enhance Fixed Income Portfolios (M&G Investments)

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

Like many investors in the current environment, insurers are revisiting their core fixed income allocations. A strategic allocation to private assets is put forward in this piece.

FHLBs: An Opportunity For U.S. Insurers (Wellington Management)

With loans from Federal Home Loan Banks (FHLBs) to insurers coming at attractive rates, and potentially being viewed favourably by ratings agencies, they could be worth considering.

Municipal Bonds: 2023 U.S. States Outlook (Northern Trust)

As states enter a new fiscal year, what do municipal bond investors need to know? Most states look stronger than before, but must face the eventual end of federal pandemic aid.

Investing Responsibly in Credit and Beyond (Insight Investment)

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

Experts discuss the challenge of investing responsibly in fixed income. They talk through issues and trends in data, structured credit, sovereign debt, LDI, and sustainable credit.

Credit Factor Investing With Machine Learning Techniques (Amundi)

For compliance reasons, this paper is NOT accessible in the United States

In this working paper the authors study the USD and EUR credit arenas by using tree-based machine learning algorithms to find nonlinearities and risk factor interactions.

An Introduction to a Huge, Established, But Untapped Debt Market (Man Group)

Credit Risk Sharing (CRS) transfers balance sheet exposures to the capital markets, but differs from traditional securitisations. Learn more about the potential benefits of CRS.