Viewpoints
Read, watch and listen to the latest insights from our global investment teams.
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.
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Equities
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
Fixed Income
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
Fixed Income
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
Fixed Income
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 read
Fixed Income
Secured Bonds: Added Benefit in the Face of Uncertainty
With a number of macroeconomic and geopolitical risks on the horizon, some investors have (perhaps rightfully) adopted a more cautious outlook when it comes to allocations to risk assets. In some cases, this has meant taking a closer look at senior secured bonds.
Short View - 3 min read
Equities
What Can German Equity Investors Expect in the Months Ahead?
While the phase one U.S.-China trade deal may provide a near-term boost for German equities, there are a number of risks on the horizon that could introduce volatility in the months ahead—making stock selection as important as ever.
Short View - 2 min read
Fixed Income
Sentiment Shift Fuels Lower-Rated Rally
Uncovering relative value across high yield in 2020 may require looking in less obvious places.
Outlook - 3 min read
Equities
Comeback Time for International Equities?
Because the U.S. equity market is broad and deep, there will almost always be opportunities—but in aggregate, we think international equity markets may be more compelling over the next year.
Short View - 3 min read
Fixed Income
2020: An Inflection Point for EM Currencies?
With the financial crisis more than a decade behind us, the global financial system seems poised to begin re-leveraging. This process, which would likely take years to play out, would provide a source of funding for EM currencies, and represent a significant tailwind.
Short View - 2 min read
Equities
Seeking Big Opportunities in Small Companies
As Europe finds itself in a climate of lackluster growth and political volatility, with an equity market that has been on an unprecedented 10-year bull run, investors are searching for pockets of value. A long-term allocation to small-cap equities is one potential solution.
Short View - 4 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.