Fixed Income and Treasury - Articles & White Papers

With a whirlwind of recent developments KKR thinks it makes sense to update what we have been learning, especially as it relates to the firm's Regime Change thesis.

A quarterly publication covering macro and market insights from the fixed income team at Capital Group.

Credit valuations appear elevated, global debt levels are high and rising quickly, and persistent fiscal imbalances risk undermining market confidence. In this piece, Mawer discusses how investors should consider navigating the current uncertainty while improving the long-term prospects of their fixed income allocation.

Invesco has downgraded their 2025 U.S. growth forecast, but are not predicting a recession.

2025 is looking increasingly like it will be anything but simple for the bond market writes Olivier De Larouziere, Head of Fixed Income, BNP Paribas Asset Management.

Emerging Markets (EM) may be uniquely positioned to help portfolios with income and return potential within a world of many changes. One supportive tailwind for Emerging Markets Debt (EMD) is the fading of U.S. exceptionalism — a period when U.S. economic growth and asset returns attracted enough of the world’s capital to…

After years of yielding close to or even below zero percent, bonds are looking more attractive again – that’s not to say that a traditional fixed income strategy will provide positive returns from here. Instead, BNP Paribas AM believes an allocation to an absolute return bond strategy can be a good way of diversifying a…

Peder Beck-Friis, an economist at PIMCO, charts rising government debt and its implications for the U.S. dollar and longer-term Treasury yields.

Conventional thinking for emerging markets hard currency exposure is to manage sovereign bonds and corporate bonds in separate portfolios.

Polen’s leveraged credit investment team discusses the market turbulence during the first half of 2025 and what may be in store for investors in the months ahead.

This report uncovers insights on the evolving landscape of green, social and sustainability-linked (GSSS) bonds in EM and developing economies.

Recent market volatility means it’s time for thoughtful diversification across fixed income sectors. Franklin Templeton Institute explores the investment implications and opportunities in this report.

This Citi Institute report focuses on Foreign Direct Investment (FDI) into the U.S. and how the rapidly shifting dynamics of global capital movement might affect it.

This is KKR's second rendition of V for Volatility, a symbolic nod to the Q1 2020 note KKR published under the same title, during what has proven to be the opening chapter of a lasting and historically significant regime change.

Investors are seeking to diversify their fixed income and credit exposure. Of the options available, structured finance has emerged as a compelling choice as a complementary allocation. Learn how it can help diversify and enhance returns within portfolios.

This paper explores the evolution of bond markets and the role of fixed income indexing in providing liquidity, transparency, and accessibility. It examines innovations such as ETFs, electronic trading, and fixed maturity indices.

With added complexity, there are new challenges for investors seeking the optimal mix of public and private credit in a multi-asset institutional portfolio. As markets converge, it is imperative for institutional investors to achieve the right balance between public and private credit, requiring holistic investment and risk-…

From the eve of World War II (WWII) to Trump 2.0 in 2025, US Federal debt has grown 751-fold to about US$36.2 trillion. It’s an amount difficult to comprehend, and the pace of debt accumulation, at 7.86% per annum, has exceeded nominal GDP growth (~6% per annum) and the capital-gain pace of US equities (~7.3% per annum).

The spread of a corporate bond over its reference (eg, German Bund), often thought of as the credit spread, can include elements other than just the difference in credit risk. In the euro markets, this spread notably incorporates an element relating to the price of swapping fixed rates for floating rates: the euro swap…

Former Federal Reserve Vice Chair Richard Clarida explains where yields may be headed, as well as positioning considerations for the long-run by charting the relationship between r* and term premium.