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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.
Fixed Income Insights
CLOs: Volatility Continues, But Value Opportunities Emerge
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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
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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.
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.
Fixed Income Insights
Four Mistakes Investors Make in Private Credit
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Barings’ Jon Bock discusses the biggest mistakes investors make when allocating to private credit—and shares his views on why last cycle’s playbook won’t work this time around.
Market Outlooks
Weekly Macro Update: Central Banks & Cheap Oil Keep on Rollin'
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Central banks have turned accommodative as oil prices continue to decline and digital taxes on tech companies are likely to be implemented by early Spring. Watch for FOMC and BOJ meetings next week for further easing.
Fixed Income Insights
Are CLOs Unfairly Vilified?
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Despite the late-cycle environment, we believe the recent negative headlines on CLOs are somewhat overstated, and do little justice to the many benefits of the asset class—which has delivered impressive risk-adjusted returns and low defaults over time.
Market Outlooks
Coronavirus Catalyst
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The World Health Organization has declared the coronavirus a public health emergency. How have past health epidemics impacted the markets? Read Chief Investment Officer Sean Clark's insights.
Market Outlooks
Fixed Income Quarterly – January 2020
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Falling interest rates and continued investor demand drove positive returns across fixed income in 2019—but with a number of risks on the horizon, volatility is almost a given. Barings’ portfolio managers across the high yield, emerging markets debt, structured credit and investment grade markets share their views on what to expect in the months ahead.
Market Outlooks
2020 Market Outlook: Recession Risks or Market Myths?
While questions surrounding the pace of U.S. economic growth linger, how can investors distinguish recession risks from market myths? Read Chief Investment Officer Sean Clark's 2020 Market Outlook commentary to see what risks and opportunities investors face in the year ahead.
Market Outlooks
Weekly Macro Update: Headwinds in Global Growth Outlook, but a Smooth Landing Expected
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Global growth outlooks are the weakest since the recession and the U.S.-China trade deal may be delayed through the new year. Meanwhile the FOMC is likely to remain on hold in December.