Formulated for resilience

The high-yield market is adjusting to a higher-for-longer interest rate environment, and some issuers may struggle to refinance due to rising borrowing costs. But there should be opportunities for discerning investors in 2024.

To have a chance of limiting global warming to less than two degrees, the world must unlock huge investments in emerging markets. This is prompting calls for the reform of multilateral development banks, but will this be enough?

Our investment teams explain why buoyant US consumer spending will have to weaken eventually. That could pose problems for debt-laden consumer-facing companies.

In the latest instalment of our new monthly series, our investment-grade, high-yield, emerging-market and global sovereign bond teams share their thoughts on key topics from across the fixed-income universe.

Carmen Altenkirch and Nafez Zouk report back from the recent International Monetary Fund/ World Bank meetings in Marrakech on the implications for EMD investors. 

The managers of the AIMS Target Return strategy explain why the prospects for a range of asset classes suddenly look much brighter.

Sunita Kara and Brent Finck argue it is more important than ever for investors to be selective when navigating the global high-yield landscape.

In the first of a new monthly series, our investment-grade, high-yield, emerging-market and global sovereign bond teams share their thoughts on key topics from across the fixed-income universe. 

With inflation down from multi-decade highs, monetary policymakers have delicate trade-offs to make as they plot their next steps. Steve Ryder and Daniel Bright assess the possible outcomes and implications for sovereign debt investors.

Investing in climate transition and adaptation plans today adds to governments’ funding needs, but over time should make for stronger, more resilient economies. How should investors approach this to embed net-zero considerations into their sovereign bond portfolios?

Issues around US tech, China, US Treasuries and Japanese monetary policy have hit the headlines in recent weeks. Sunil Krishnan explains how taking a long-term view can help multi-asset investors cut through the noise.

As the current economic cycle draws to a close, our buy-and-maintain team discuss opportunities and risks in credit markets.

How much do ocean circulation patterns impact economic outcomes and sovereign risk? Rick Stathers and Carmen Altenkirch assess El Niño, the climate phenomenon driving atmospheric circulation in the tropics, affecting everything from GDP to inflation and social stability.

James Vokins and Chris Higham explain why investment-grade bonds still offer value despite persistent market uncertainty.

Members of Aviva Investors’ liquidity team explain why rising global interest rates and problems in the US banking sector are fuelling demand for money market funds.

Faced with escalating climate and biodiversity crises, developing economies are innovating with new ways to link bond issuance with sustainability goals. This brings risks and opportunities for investors, say Liam Spillane and Emilia Matei.