Insights

By Dan Siluk and Jason England, Kapstream Capital Impact of higher global bond yields The Federal Reserve (Fed) acknowledged that “cumulative tightening” will be a factor in future rate decisions, but we still believe the central bank will be forced to remain hawkish longer than it expects. While we believe...

A conventional approach to “risk” in fixed income is the idea of a single obligor default risk, i.e. the risk of an individual borrower failing to repay amounts to a lender when they are due, resulting in a potential loss to that lender. This risk is generally well understood...

Gold has been having a dream run, performing exactly as it should in stressed markets. The yellow metal is up around 30 per cent in six months (even allowing for a mid-week swoon on the back of profit-taking ). Six months ago it was trading at US$1,474 per ounce -...

Global Bonds Portfolio Manager at Janus Henderson Investors Andrew Mulliner provides commentary on US inflation figures. The big beats in US CPI today do tell us a few things about the current economic environment, but one of those things isn’t that there is a change in the secular inflation regime. The...

In their most recent Insight, EMD on the bread line, Aviva Investors has outlined how soaring food prices and social unrest intertwine with countries’ fiscal positions and its impact on emerging market debt investors. Rising food prices has increased risk of social unrest in emerging market countries globally As...

By Michael Della Vedova, global high yield portfolio manager at T. Rowe Price Volatility has propelled high yield bond spreads to their highest levels since November 2020, but we believe the asset class’s fundamentals remain solid, however, and that current valuations do not reflect its underlying strength. If we are...

Jay Sivapalan, Head of Australian Fixed Interest, Janus Henderson Investors, identifies three macro themes investors should bear in mind as they navigate the evolving investment landscape. Looking to 2023 and beyond, we see a number of structural forces akin to tectonic plates moving within the global economic landscape. These are...

Over the last decade, Australia's lending landscape has transformed. Gone are the days when the "big four" controlled the vast majority of Australians' credit needs. We've seen an influx of Non-Bank Lenders (NBLs) to the market, increasingly providing technology-driven lending solutions that traditional banking models have difficulty competing with....

Recent new issues by NAB, Macquarie, and Ampol might have you thinking about adding capital notes, sometimes called ‘hybrids’ to your portfolio. In this article, we discuss the advantages and disadvantages to help you determine if they might be right for you. A capital note is a hybrid product and...

Jay Sivapalan -  Head of Australian Fixed Interest at Janus Henderson - discusses what caused February’s bond market volatility and how the team are actively navigating the challenging conditions. Over February the Australian bond market1 was down approximately 3.5%, suffering its biggest negative monthly return since 1983. In combination with...