Bond Voyage

With a new US president poised to take office, central banks diverging and ongoing political uncertainty, how are the key fixed income asset classes positioned for the year ahead?

The expected policies of a Republican administration in the US bring added uncertainty to the global growth cycle. Steve Ryder and Daniel Bright examine the probable impacts of a world with more tariffs and political strains.

From navigating market crashes to embracing ESG and technology, Adrian Poole and Gregor Bamert reveal how 40 years of real estate debt investing have moulded Aviva Investors’ strategy – and what it takes to stay ahead in a rapidly changing market.

Long-term trends like climate change are particularly important for buy-and-maintain investors. How can they integrate climate objectives, such as net zero by 2050, into their portfolios?

This month, we explore how US Treasuries are taking a breath, why 2025 could be the year of carry for high yield, what increasing dispersion means for emerging markets, and how surging M&A activity could affect investment-grade bonds.

The ReturnPlus strategy invests in a broad range of liquidity sub-asset classes, while consuming limited regulatory capital. Our ReturnPlus team explains why investors should consider an allocation to the strategy.

Investors should consider EMD hard currency for a long-term strategic allocation within fixed income portfolios to boost portfolio returns, rather than just a short-term tactical play.

This month, our fixed-income investment teams discuss US elections, IMF meetings, US versus European high yield, managing declining rates for cash, and what the future might hold in store for gilts.

Global head of investment-grade credit James Vokins explains how a differentiated approach to portfolio construction can help credit investors avoid the pitfalls of being reliant on beta.

In this article, we explore why measuring and continually monitoring geopolitical risks is essential for investors in EM debt.

In our October edition of Bond Voyage, our fixed-income teams reflect on US elections, US rates, France’s slide towards the periphery of EU issuers, and ESG considerations in Asia.

Volatility returned to markets in the third quarter of the year. While the short-term drivers are not unduly worrying, Sunil Krishnan argues multi-asset investors will need to be watchful over the medium term.