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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.
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.
Behavioral Finance
The Five Stages of a Market Crisis
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A process similar to the "five stages of grief" can be seen in market crises, including the current one.
Fixed Income Insights
Securitized Credit May Be Poised to Rebound
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Securitized credit has lagged the rebound in other assets, but T. Rowe Price believes that areas could outperform as the economy reopens.
Fixed Income Insights
Beyond the Index – A Traders’ View on How Fixed Income Markets are Operating
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Dr. Christopher Smart hosts a conversation with Barings’ senior traders, Steve DiVittorio and Rishi Kapur on the mechanics of how fixed income markets are functioning in the current crisis, how that compares to past periods of extreme volatility, and what opportunities may result.
Fixed Income Insights
Beyond the Index – EM Debt: When Prices Decouple from Fundamentals
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Dr. Ricardo Adrogué discusses how the global pandemic has impacted emerging markets, including implications for sovereign and corporate debt markets, as well as interest rates and currencies.
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
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.