High yield: once again doing what it says on the tin
Yields have become more attractive, and volatility is creating opportunities for active management. As such, we believe current market conditions are a compelling opportunity for investors to reconsider their fixed income allocations.
Statement piece: the importance of accurately reading financial accounts
Despite admirable efforts there continues to be variance in how companies report their financial positions. A more in-depth understanding is important to help improve outcomes for bond investors.
European banks: better value than many other sectors
Solid profitability driven by a rates sweet spot that should see decent earnings combined with increased loan growth, plus a soft landing for the economy, mean we are broadly stable on the sector over the coming years.
Ukrainian corporates are making a comeback – but is it temporary?
Businesses are taking differing approaches to managing their debt, and as we approach the point where paused repayments will resume, markets are looking at the ability of companies to uphold them.
In Credit Weekly Snapshot – May 2024
Our fixed income team provide their weekly snapshot of market events.
Irish banks: a classic turnaround tale… and opportunity
The sector has gone from being one of the riskiest in Europe to among the safest – an excellent example of the situations we look for, and that our deep research and bottom-up approach allows us to benefit from.
Aggressive liability management activity pushes defaults higher
Higher default rate in European High Yield driven by a growing trend of aggressive liability management activity among over-levered issuers, increasing the risk of balance sheet restructuring events.
In Credit Weekly Snapshot – April 2024
Our fixed income team provide their weekly snapshot of market events.
Sector spotlight: renewables making their mark on EU emissions
European Commission data for 2023 shows the most significant drop in the region’s annual emissions since the Emission Trading System was introduced in 2005.
High yield bonds: focus on maturity over duration
The CT (Lux) European Short-term High Yield Bond strategy focuses on maturity over duration to manage risk. This means lower interest rate sensitivity and less volatility growth.
