By Arif Husain, Head of International Fixed Income and Chief Investment Officer, Fixed Income at T. Rowe Price
Even after the late-year “Santa” rally, all-in yields in many credit sectors are near multi-decade highs, making it tempting to portfolio managers to have overweight credit allocations to maximise the yield opportunity....
Global Asset Allocation Viewpoints and Investment Environment by T. Rowe Price Australia Investment Committee, as at 31 January 2024.
MARKET PERSPECTIVE
Global growth expectations have stabilized, near the same levels as last year, with disinflation gaining momentum hinting at a global “soft landing.”
U.S. growth remains most resilient amongst developed...
Within fixed income, there are two well-known levers, duration and credit. However, there is also a lesser known third lever, Pure Relative Value investing. Scott Osborne, Investment Specialist at Ardea Investment Management, explores how this third lever provides compelling diversification benefits for investors when blended with duration and credit.
Investors...
Janus Henderson Investors’ Credit Risk Monitor tracks key indicators which impact credit portfolios.
• “Cashflow and Earnings” and “Access to Capital Markets” indicators have moved to amber from red over the last quarter, but concerns remain over “Debt Loads and Servicing”.
• The widespread decline in inflation, accompanied by resilient consumer...
FIIG Securities recently published its 2024 Macro Strategy Outlook. Here we republish its Lock Investment Strategy designed to maximise medium term profits while minimising risk. The article suggests 12 bonds that fit to help meet its strategy.
The LOCK strategy involves positioning your portfolio to capitalise on the higher yields...
Economic indicators are weakening in Australia but that doesn’t mean that yields will fall the way many expect says Andrew Canobi, Portfolio Manager for Franklin Templeton Fixed Income.
Canobi says: “We wish we could bring better news but the prognosis for the Australian economy is not good with recession risks...
From asset manager Wellington Management
The nature of economic cycles is changing. Domestic output gaps are expected to be far more important in determining inflation in a particular economy than has been seen over the past 20 years of globalisation. Markets and central banks will take time to adjust, but...
By Daleep Singh, Chief Global Economist, Head of Global Macroeconomic Research, PGIM Fixed Income
If central banks' urgency to return inflation to their respective targets encapsulated an underlying theme of the global economy in 2023, early 2024 starts with assessing the ramifications of their initial success.
It is a fitting time...
Franklin Templeton provides some key macro and investment themes as well an outlook dashboard on their views of sub sectors.
Our growth projections for the United States continue to improve as a “soft landing” becomes the most likely outcome, while other economies may face harsher conditions. US and European central...
After a challenging period for fixed-income markets, conditions look to be right for a better year in bonds according to Aviva Investors.
• The reasons behind the optimistic outlook for government bonds and credit
• Why EM asset prices should remain resilient
• The risks to look out for in 2024
After years...
