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Delta: what US-China tensions mean for credit investors, and volatility’s tale of two quarters

With Chinese companies now accounting for almost one-third of emerging-markets corporate debt, what are the implications of the US-China trade war for credit investors?

Welcome to Delta, our monthly fixed-income podcast hosted by Andrew Jackson, who leads Hermes’ investment efforts in the asset class.

In this launch episode, ‘Jacko’ explores two topics that are front-of-mind for credit investors: the impact of US-China trade tensions on markets – particularly since Chinese corporate debt now comprises 27% of the relevant emerging-market benchmark – and how the steep rise and stunning decline of volatility in the last two quarters is influencing the options landscape.

To cover these subjects, he is joined by two colleagues in the Hermes Fixed Income team who focus on these matters day in, day out:

  • Nachu Chockalingam, Senior Portfolio Manager – Emerging Market Debt
  • Vincent Benguigui, Portfolio Manager – Index Options

And, in a regular feature of the podcast, he turns to the market to address a key concern among investors. This month, he provides an explanation of why strategic-bond funds are falling out of favour.

Tune in to Delta.

See our podcast guide on how to download our podcasts on your phone.

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