Fixed Income

As governments around the world provided support in various manners during the pandemic, savings ratios increased to levels that were twice as large as the previous all time highs in some countries. Felipe Villarroel takes a look at some countries' spending vs savings monthly data patterns and lays out what he thinks this means for fixed income investors.

Bank bonds have been amongst the best performing asset classes in fixed income over the last few months, doing their bit in proving their strength.

What level of risk are investors willing to take? As central bank rates hike and a soft landing narrative makes its way into analysts’ forecasts, Eoin Walsh takes a look at what affects this has on investment risk and reinvestment risk.

What sort of landing will the global economy experience? With the recent release of the US CPI report, inflation has been on a downward trend and the resilient activity data has continued to surprise many. This report has acted as a trigger of sorts for increasing calls for a soft landing.

What can we expect from central banks this week? Felipe Villarroel looks at how recent CPI prints in the Eurozone and in the United States are expected to influence upcoming central bank monetary policy decisions.

What have we learnt from the ECB’s Consumer Expectations Survey? Felipe Villarroel discusses how latest changes in the consumer’s expectations of the economy reflect that the ECB’s monetary policy is actually working.

In recent weeks the US debt ceiling has been dominating headlines with investors focused on the imminent threat of a US default which would be extremely unnerving for global markets. Johnathan Owen looks at the wider implications facing the US economy.

As earnings season kicks off in Europe, Eoin Walsh looks at what impact, if any, recent volatility in the banking sector has had on European banks. 

With many market participants fearing the impact of quantitative tightening (QT), Johnathan Owen looks at one central bank’s early experience of actively selling bonds to investors.

In our latest blog, Pierre Beniguel looks at the implications of AroundTown’s corporate hybrid non-call and the shock announcement that it will also consider deferring coupon payments.

Higher rates mean the income available on AAA RMBS bonds is eight times what it was at the start of this year, and growing demand for this floating rate asset class is clear, says Kevin Law.

Following Chairman Powell’s speech last night, George Curtis looks at what the latest labour market data means for the Fed’s war on inflation.