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Market Outlooks
Weekly Macro Update: ESG in Mining: A Quiet Revolution is Surfacing
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But the advances underway are rapidly making the industry safer, more efficient and more sustainable.
Market Outlooks
EMD: Further Room to Run?
Emerging markets debt rallied strongly in the second quarter—and while risks remain ever-present, the asset class may benefit from continued monetary stimulus and the potential for a sharper economic bounce-back in the second half of the year.
Market Outlooks
Investment Grade Credit
Whatever It Takes: After the historic rollercoaster ride IG credit took in the first quarter, U.S. policymakers seem to have won the day, at least for now—with their own version of the phrase made famous by former ECB President Mario Draghi: Whatever it takes.
Market Outlooks
CLOs: Looking Down the Road to Recovery
CLOs rallied in the second quarter as liquidity returned and supply/demand dynamics began to normalize. While opportunities have emerged—particularly in high-rated tranches and new issue BBs—active management is key.
Market Outlooks
High Yield: The Power of Flexibility in Volatile Times
Ample liquidity from central banks has driven a significant recovery across markets, including high yield. But with much uncertainty still ahead, we see benefits to moving up the capital structure and considering secured assets.
Market Outlooks
Weekly Macro Update: The Trough Is In—Let The Healing Begin
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While there is still a long path to recovery, global June flash PMIs confirmed we have passed the trough as contraction eased. The U.S. Employment report will be released next week, and the pressure is on for Britain and Japan to come up with a deal.
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.
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.
Market Outlooks
Strong Fiscal Response Needed After Fed Moves on Liquidity
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The failure of the Fed's rate cut to calm markets has put pressure on governments to provide a stronger fiscal response.
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.
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.