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Market Outlooks
The EM Default Picture: More Nuanced Than Headlines Imply
The coronavirus pandemic is undoubtedly 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.
Fixed Income Insights
EM Short-dated Debt: A Diamond in the Rough?
COVID-19 and lower oil prices have led to indiscriminate selling across EM corporate debt, creating a potentially compelling opportunity in the shorter-dated, higher-yielding segment of the market.
Alternative Investments
Global Real Estate: Cyclical & Structural Impacts of COVID-19
As investors navigate global real estate markets in the months and years ahead, understanding the interplay between near-term cyclical weakness and long-term structural trends will be key.
Fixed Income Insights
What's Next for Private Credit?
Now that the proverbial rubber has met the road, many investors are questioning what’s in store for private credit in the months (and years) ahead. In many ways, the current volatility is setting the stage for significant opportunities—but managing the downside is critical.
Market Outlooks
The Government Responds with Extraordinary Measures
This piece is approved to use with clients.
The Federal Reserve and Washington lawmakers have taken dramatic steps to counteract the effects of the COVID-19 virus on the economy.
Market Outlooks
Second Quarter 2020 Quarterly Market Update
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Fidelity's Asset Allocation Research Team (AART) examines major themes in global financial markets and presents its investment outlook in this quarterly market update.
Market Outlooks
Global Asset Allocation Viewpoints and Investment Environment
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Pledges of fiscal spending have been quick to follow actions taken by major central banks to combat the looming impacts of the coronavirus pandemic. G-20 countries have pledged more than $5 trillion USD in stimulus through a wide range of avenues to stave off the effects on the global economy.
Fixed Income Insights
CLOs: Volatility Continues, But Value Opportunities Emerge
This piece is approved to use with clients.
As macro volatility continued to pummel markets throughout the first quarter, CLOs felt the effects—with dramatic price moves among tranches as investors clamored for liquidity. But we believe that those who invest with an active manager and take a long-term view will benefit.
Fixed Income Insights
High Yield: Finding Value in a Landscape Rife with Risk
This piece is approved to use with clients.
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.
Fixed Income Insights
Investment Grade Credit Markets Make an About-Face
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As investment grade markets pivot sharply, with spreads reaching their widest level in over a decade, investors turn disproportionately toward quality and liquidity.
Market Outlooks
View of the Business Cycle by Fidelity's Asset Allocation Research Team
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A review of the current state of the U.S. business cycle and the effects of the spread of COVID-19, as well as the potential implications for asset allocation.
Fixed Income Insights
Distressed Debt: Despite Challenges, Opportunities Persist
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Recent market and economic volatility may be the trigger that distressed debt investors have been waiting for, but capitalizing on opportunities will require a different playbook than those of past cycles.