The time is now: Creditors to negotiate stronger covenants in 2023
Conditions in global credit markets have materially changed over the course of 2022. Tightening policies by central banks to control inflation and investors’ fears of economic slowdown has resulted in a material jump in corporate borrowing costs, a significant reduction in primary issuance and a deterioration in the secondary market. However, we see a silver […]
Fiorino: Leverage will tear us apart, again
On November 8, the blood moon eclipse pushed more earthbound topics – such as war, inflation and near collapse of the UK financial system – momentarily to the sidelines as people around the world paused to marvel at the blushed red hues of our nearest celestial neighbour. Some may have gazed up and wondered how […]
Emerging market debt: Darkest before dawn
Within the fixed income spectrum, EMD offers particularly compelling value on account of already having priced in much of the risk that other asset classes must negotiate in the year to come. Following the bruising sell-off in the first six months of the year, 20% of the EMD universe trades at over 1000bps in spread […]
Sustainable Global Equity Report, Q4 2022
The inflation game-changer
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
Markets take fright as Xi assumes total control
market snapshot
Inflation still stubbornly high despite central bank hikes
market snapshot
UK government woes continue to overshadow markets
market snapshot
360°, Q3 2022
Rates, recovery, recession
