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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
High Yield: Navigating COVID-19
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Barings’ Martin Horne puts the recent volatility in high yield markets into context and describes how the Barings team is both managing risks and finding value opportunities through the crisis.
Fixed Income Insights
Private Credit: Why Last Cycle's Playbook Won't Work This Time
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Barings’ Jon Bock discusses the recent Insights paper he authored, which describes the mistakes that investors continue to make when allocating to private credit—and, importantly, how to avoid them.
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.
Fixed Income Insights
Distressed Debt: Capturing Late-Cycle Value
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Barings’ Stuart Mathieson and Bryan High discuss how recent macro events and credit market dynamics are impacting the outlook for distressed debt.
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
Weekly Macro Update: Fear Itself
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This is one of those moments in markets when the news and data and price monitors spill off the screen like a bad 3-D movie and mix seamlessly with shreds of personal worries.
Market Outlooks
U.S. Election 2020: An Investors’ Guide
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With the early Iowa and New Hampshire contests behind us, what’s next in the race to the White House? Dr. Christopher Smart offers insight into how investors can tune out the noise and focus on the scenarios that are already coming into view.
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
Weekly Macro Update: Metternich, Modi & Markets
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European diplomacy once centered on a theory that the best way to keep peace and stabilize financial markets was to preserve a "balance of power" that would prevent any one country from growing too strong and pushing others around. But with global supply chains—and the world's economy—under threat from epidemics, technology rifts and tariffs, President Donald Trump's efforts to balance China’s rise with a visit to India this week look very much like yesterday's answer to today's problems.
Fixed Income Insights
Beyond the Index – IG Credit: The Hidden Risks of “Safe” Bond Strategies
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Traditional investment grade bond strategies are meant to help their owners sleep at night. But hidden credit and interest rate risks make benchmark-hugging more hazardous than many realize. Counterintuitively, CLOs, ABS and EM debt may be part of the solution.