Credit markets? They’re too cheap to ignore
Fast reading: Yields and prices are at levels we have not seen for more than a decade, indicating that a moderate recession and even some systemic stress are already in today’s prices. Investors in the investment grade market today are receiving a yield similar to one year ago from a CCC-rated index. How does credit […]
The art of going against the grain
Asia ex-Japan’s ten-year anniversary
Central banks ramp up rates in shadow of recession
market snapshot
Standing out in Asian equities – Fund in 5
Presenting Federated Hermes Asia ex-Japan Equity Fund
Spectrum Q3 2022
Have alternatives gone mainstream?
View from Private Markets: Reappraising the value of real estate debt
Fast reading In the years following the global financial crisis, low rates reduced absolute returns for real estate lenders, but that is set to change now that rates are rising. Defensive real estate debt strategies should be largely protected from short-term property value declines, and may actually benefit from the rising rates environment. An allocation […]
360°, Q3 2022
Rates, recovery, recession
Fiorino: Can Europe’s banks withstand high-pressure energy disruption?
As Europe grapples with a gas crisis caused by the war in Ukraine, investors are facing up to a fundamental truth: energy is everything. Russia’s efforts to restrict, or cut off, the flow of natural gas to Europe via the Nord Stream 1 pipeline, which runs under the Baltic Sea from Russia to Germany, has […]
Markets on edge despite Bank of England intervention
market snapshot
They’ve got the power? European Utilities and the energy crisis
The threat to European consumers from soaring gas and electricity prices has dominated recent headlines and impacted bond prices, but informed discussion of the implications for Utilities companies has been lacking. The supply squeeze caused by the conflict in Ukraine, exacerbated by existing market design, has created three major potential issues for the Utilities sector, […]
