Liquidity outlook 2026

Owning and trading assets as digital tokens could transform markets, and money market funds are leading the charge. We explore what this means for investors.

Despite some headwinds, the liquidity team expects broadly supportive conditions in 2026. The new year could also see interesting developments in regulation and tokenisation.

This month’s Bond Voyage looks at the Bulk Purchase Annuity (BPA) market in the UK – the quiet market making loud moves.

In this month’s Bond Voyage, we introduce SHIELD – the downside protection framework used by our fixed income division. SHIELD is designed to ensure our portfolios remain resilient in challenging market conditions while maintaining capital efficiency.

This month, our fixed income teams discuss the boom in hybrid issuance and weigh up the risks and opportunities of potential tariffs, interest rate moves and fiscal dynamics.

As we negotiate an uncertain landscape, our fixed income teams reflect on potential sources of resilience.

With a new US president poised to take office, central banks diverging and ongoing political uncertainty, how are the key fixed income asset classes positioned for the year ahead?

This month, our fixed-income investment teams discuss US elections, IMF meetings, US versus European high yield, managing declining rates for cash, and what the future might hold in store for gilts.

Alastair Sewell answers the seven key questions on the minds of liquidity investors heading into 2024.

Our liquidity team give their take on what the challenging market environment means for positioning in 2023.

In this Q&A, Alastair Sewell explains why investors need to urgently rethink their approaches to collateral cash management.