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Credit Markets: Past the Inflection Point?

  • ,  Senior Investment Writer |
  • 13 Nov 2023

credit cycle

Where are the opportunities among fixed income products?

More and more signs point towards the end of a long-term debt cycle which started - some argue - with the new monetary system at the end of WWII. There have been recent warnings about a potential debt crisis from the Congressional Budget Office in Washington and from the UK's Office for Budget Responsibility, but so far policymakers have remained sanguine about this risk. Should investors also ignore these warnings?

Price Is What You Pay, Value Is What You Get (Man Group)

Looking at the credit market in aggregate masks a dispersion across geographies and sectors.

The Great Federal Centralisation (Phinance Technologies)

Typically, after each crisis, government debt increased as a percentage of the economy, as Keynesian policies were enacted.

Federal Reserve: Are We There Yet? (Fidelity Investments)

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

Investors continue to debate whether the Fed is nearing a policy inflection point amid a confluence of slowing growth, rising inflation, and emerging financial market risks.

Central Bank Watcher: Peaking And Tweaking (Robeco)

To preserve tighter conditions, central bankers will likely avoid sounding too dovish. Still, central bank rates in the U.S. and Eurozone may have reached their peak.

Default Factor Is A Key Differentiator For Bond Funds (Vanguard)

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

When it comes to interest rates and investing, two beliefs seem to prevail in the financial industry and the media. Find out more in this article.

Don’t Wait For Goldilocks In The Fixed Income (Allspring Global Investments)

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

Fixed income markets remain unsettled. Where can investors find opportunities in the current environment?

What’s Next For Eurozone Government Bonds? (BNP Paribas AM)

Government bonds remain an attractive part of the fixed income universe for allocators. However, finding the right opportunities in this monetary policy environment is not easy.

Performing Credit Quarterly Q3 2023 (Oaktree Capital)

When analyzing the U.S. leveraged credit markets, it’s important to first acknowledge the significant difference in quality between high yield bonds and leveraged loans.

The Impact of Government Debt (Meketa)

The growth in government debt historically has often been linked to major events, such as wars and financial panics.

Current Opportunities in Public Credit Markets (Acadian)

In the current environment, investment grade and high-yield markets offer attractive compensation for bearing credit risk.