Viewpoints
Read, watch and listen to the latest insights from our global investment teams.
EMD: Light at the End of the Tunnel
The rollout of the COVID vaccine may be slower across emerging markets, meaning restrictions will likely remain in place for the foreseeable future. But there are bright spots—including in local currencies and companies that have adapted to this ‘new normal’.
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High Yield: Strong Tailwinds, But It May be a Bumpy Ride
High yield has a number of supportive tailwinds at its back—from a more manageable default picture and less exposure to potentially rising rates to investors’ continued demand for yield. But uncertainties remain, suggesting a potentially bumpy path to recovery.
Short View - 4 min read
2021 Outlook: The Uneven Recovery
The recovery in many ways looks real and durable—but it also looks uneven and, in some cases, quite unpredictable. In this discussion, investment professionals from the public and private markets discuss where they expect to see risks and opportunities in the year ahead.
Conversations - 9 min read
Structural Trends Supporting Asian Equities
There are a number of supportive structural trends shaping the opportunity in Asian equities, many of which—perhaps counterintuitively—have been amplified by the pandemic and U.S.-China trade tensions.
Insights - 6 min read
High Yield: Near-Term Risks & Opportunities
From COVID to trade tensions to the U.S. presidential election, there are a number of risks on the horizon. But opportunities continue to emerge, particularly in higher-rated credits and senior secured bonds.
Short View - 4 min read
ASEAN: Where Positive Demographics Meet Supportive Secular Trends
Recent market volatility has created what we view as an attractive opportunity in ASEAN equities—particularly to tap into selective structural growth stories at compelling valuations.
Insights - 8 min read
Hong Kong-China Equities: Accelerating Areas of Opportunity
As COVID-19 slowly loosens its grip on China, it has become clear that many of the long-term structural trends shaping the markets remain intact or have even accelerated—creating investment opportunities in Hong Kong-China equities.
Insights - 5 min read
Hong Kong China Equity Strategy - Investment Themes (Part 2)
While the COVID-19 crisis has certainly disrupted some longer-term growth trajectories in China, it has also accelerated a number of secular trends, giving rise to attractive opportunities for investors with long-term time horizons.
Webinar - 3 min watch
Hong Kong China Equity Strategy - Investment Themes (Part 1)
While the COVID-19 crisis has certainly disrupted some longer-term growth trajectories in China, it has also accelerated a number of secular trends, giving rise to attractive opportunities for investors with long-term time horizons.
Webinar - 3 min watch
High Yield: Liquidity Abounds, But What Lies Ahead?
Ample liquidity from central banks has driven a significant recovery across markets, including high yield. But with much uncertainty still ahead, we see benefits to moving up the capital structure and considering secured assets.
Short View - 4 min read
EMD: Further Room to Run?
Emerging markets debt rallied strongly in the second quarter—and while risks remain ever-present, the asset class may benefit from continued monetary stimulus and the potential for a sharper economic bounce-back in the second half of the year.
Short View - 3 min read
Four Benefits of Senior Secured Bonds in an Uncertain Environment
Times of volatility can also yield opportunity if navigated carefully—and in the event of widespread defaults, senior secured bonds can offer some particularly compelling benefits.
Short View - 4 min read
High Yield: Finding Value in a Landscape Rife with Risk
Concerns surrounding COVID-19, lower oil prices and a global recession have weighed heavily on markets—including global high yield bonds and leveraged loans. While value opportunities are emerging, the landscape is punctuated with risks that must be carefully navigated.
Insights - 8 min read
The EM Default Picture: More Nuanced Than Headlines Imply
The coronavirus pandemic is creating short-term and long-term challenges for emerging markets (EMs). But not all sovereign and corporate issuers can be painted with the same broad brush, and placing too much weight on overly dire forecasts may result in missed opportunities.
Insights - 7 min read
EMD: Finding Fundamental Value Through the Storm
The rapid spread of COVID-19, the precipitous fall in oil prices and the related shock to the global economy have sent markets—including EMD—into a tailspin in recent weeks. In this piece, we explore the resulting challenges and discuss opportunities beginning to emerge.
Insights - 10 min readWe use cookies on our website to provide you with the best experience. By proceeding to our site you agree to our Cookies Notice and our site Terms and Conditions.