Latest fixed income thinking
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Zero-COVID: China’s costly policy error
10 Aug. 2022
Beijing’s ideological battle to stamp out COVID-19 appears increasingly misguided as the rest of the world learns to live with the virus. But the impact of China’s approach will be felt far beyond its borders.
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What does the data say? Are we close to 1970’s-style stagflation?
29 Jul. 2022
In this month’s instalment of our visual series on topical themes, we look at whether the global economy is heading towards stagflation.
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EMD: On the bread line
6 Jul. 2022
Russia’s war in Ukraine has contributed to soaring food prices, supercharging global inflation. Poorer countries will likely be hardest hit, adding to the risk of social unrest. With public finances and incomes already under strain, emerging-market debt investors should be on high alert.
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Inflation, volatility and default risk: The outlook for high yield
13 Jun. 2022
The co-heads of our global high yield team explain how the asset class is standing up to current headwinds.
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Conflict, commodities and China: The outlook for EMD
13 May 2022
Aaron Grehan and Nafez Zouk from our emerging market debt team explain how the asset class is standing up to some significant headwinds.
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Game over for Zambia? A test case for debt restructuring
12 Apr. 2022
The economic fallout from the pandemic has left several poorer nations struggling to repay debt. China, the biggest single creditor to many, could carry considerable clout in negotiations. Zambia will prove an early test case, argues Carmen Altenkirch.
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What does the data say? Credit in focus
31 Mar. 2022
In this month’s instalment of our visual series on topical themes, we look at key trends in the credit market.
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No time for heroes: How portfolio construction can help investors navigate unfamiliar economic and market regimes
22 Mar. 2022
We are back in an old, but unfamiliar market regime. In a period where simple playbooks may falter, Jeremy Albers sets out why portfolio construction can make the difference.
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Russia-Ukraine update: The ten key questions for EMD investors
18 Mar. 2022
We assess the near and longer-term implications of Russia’s invasion of Ukraine on emerging-market debt.
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How bond investors can influence companies and governments to change their behaviour for the better
17 Mar. 2022
Bondholders are starting to use their power to influence corporate behaviour in areas such as climate change, social inequality and biodiversity loss.
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The future of pharma: Increased returns or the age of biotech?
8 Dec. 2021
After decades of low returns on research and development (R&D), the healthcare sector is producing a slew of innovations, from drugs to diagnostics. But with many coming from new entrants, will big pharmaceutical companies manage to keep up with the times?
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The cost of climate change: A big threat to sovereign debt?
3 Dec. 2021
Governments around the world are struggling to avert a climate catastrophe. Regardless of whether they succeed, climate change threatens adverse consequences for government bonds, although market impacts are likely to vary.
Bond Voyage: A journey into fixed income
Each month, our freewheeling fixed-income newsletter gathers insights from our high-yield, investment-grade, emerging-market and global sovereign bond teams.
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