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Fixed Income

The core of any good portfolio, learn about the key themes and opportunities in fixed interest.

Expert Insights

How to model the timing of a US recession

There's been a fair bit of talk about a pending US recession. Much of this chatter has been fueled by simple analysis of the slope of the yield curve, which is widely...
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Expert Insights

Should bond investors worry about rising yields?

Bonds are typically viewed as a defensive allocation in portfolios, however, in a world of rising interest rates, there are concerns about the impact this will have on...
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Livewire Markets
Fixed Income
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A risky market comes of age

Once upon a time, the high yield bond market was for speculative companies and investors. Today, the market is where Virgin, Netflix and Hertz raise capital from...
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Livewire Markets
Expert Insights

Why high yield bonds is one asset class to consider for the next correction

High yield bonds can offer a similar return profile to equities, but with 40% less risk. In this short video, Vivek Bommi, Senior Portfolio Manager at Neuberger Berman...
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The high yield bond market is bigger than the ASX

Comprising 2,000 companies that include household names like Hertz, Netflix and KFC, the high-yield bond market at US$2.1 trillion is now bigger than the ASX. Vivek...
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Livewire Markets
Fixed Income

Investing in fixed income when rates are rising

Economic growth in most countries continues to print at or above trend. The slack in economies created during the GFC and its aftershocks (Europe in 2011, emerging...
Stuart Dear
Schroders
Expert Insights

Mortgage rates heading higher?

In this short interview, Charlie Jamieson from Jamieson Coote Bonds discusses his outlook for Australian mortgage rates, and explains the impact that the Fed is having...
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Expert Insights

A warning siren from the credit market

The credit market sounded the warning siren well ahead of the GFC: credit spreads blew out in July 2007, before equity markets peaked in November 2007. In this short...
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Expert Insights

The elephant in the room investors have overlooked

Macquarie Infrastructure fell 41% in a single session in February, a direct result of the elephant in the room investors have overlooked, as outlined here by Charlie...
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Livewire Markets
Fixed Income

Bond issuance to underpin rising market opportunities

The Australian Commonwealth budget announcement overnight has confirmed the size and trajectory of the Australian government bond market. The Australian Office of...
Tamar Hamlyn
Ardea Investment Management
Fixed Income

Tide turning on inflation - and adjustments will follow

While the global economy delivers on growth, the signs are there from the US regarding the pressure of inflation as the Fed raises rates, coupled with indications of...
Kellie Wood
Schroders
Fixed Income

Risk measure at GFC Levels - Should Investors be Worried?

The Bank Bill – Overnight Indexed Swap (OIS) spread is a keenly watched risk measure in fixed income markets that has experienced a significant widening in recent...
Tamar Hamlyn
Ardea Investment Management
Fixed Income

More Risk for Less Return

Sacrificing liquidity in return for additional yield can be attractive if the compensation is sufficient and the time horizon of capital is appropriate. But corporate...
Gopi Karunakaran
Ardea Investment Management
Expert Insights

A message for SMSF investors

Self-Managed Super Funds (SMSFs) typically invest in a rather narrow range of assets: equities, fixed income, property, private equity or infrastructure, and cash....
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Expert Insights

Two asymmetric opportunities

It’s difficult to make predictions, especially about the future. Like many investors, Gopi Karunakaran from Ardea Investment Management once thought that investing...
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Livewire Markets
Expert Insights

Why we’re cautious on these two sectors

Reputable lenders use a rigorous due diligence process to give them the best chance at consistently identifying any downside risk. Andrew Lockhart, Managing Partner at...
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Livewire Markets
Expert Insights

A dangerous consensus

At the height of the financial crisis, credit markets seized up and liquidity disappeared. In the aftermath of Lehman’s bankruptcy, this caused huge headaches for...
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Livewire Markets
Expert Insights

A paradigm shift for global markets

In recent years, markets have reacted positively to signs of inflation. Inflation has been indicative of improving conditions in the economy, and central banks have...
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Livewire Markets
Fixed Income

Can Australian homeowners handle higher rates?

The average variable home loan rate in Australia has fallen from 8.3% to 5.1% in the past ten years, enabling households to borrow more and drive house prices higher....
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Livewire Markets
Fixed Income

Does Fixed Income Still Diversify Portfolio Risk?

As global expectations of rising interest rates and inflation begin to become more mainstream, investors are wise to pause and reflect on what this means for their...
Gopi Karunakaran
Ardea Investment Management
Fixed Income

Draghi’s Poisoned Price Signal

Every asset in the world is priced with reference to the bond market, at least in theory. The bond market dictates your risk-free (ok, low risk) opportunity cost. It’s...
Gareth Brown
Forager
Fixed Income

Why is volatility so low?

It is widely acknowledged that the outlook for economies and markets is unusually uncertain, given the huge political changes that we are witnessing globally. It is...
Simon Doyle
Schroders
Fixed Income

Video: What should investors brace for in 2017?

In contrast to what is a relatively benign macro outlook, the starting point for key markets is more problematic. Thus achieving high real rates of return by simply...
Simon Doyle
Schroders
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