Bond Voyage

Pierre Ceyrac and Mark Miller explain the benefits of a global approach when investing in high yield.

Healthcare is a dynamic industry, but patent expiries from 2025 and drug-price reform in the US pose challenges. Innovation will be key for continued success, as experts from our credit, equity and ESG teams explain.

In a world where potential pitfalls loom around every corner, Peter Fitzgerald and Ian Pizer explain why investors need to look beyond what financial models are telling them to keep portfolios resilient to the challenges ahead.

James Vokins and Chris Higham from our investment-grade credit team discuss opportunities and risks in a higher rates world.

Cracks have begun to emerge in the banking sector in recent weeks. As the tide of cheap money that has flooded financial markets for more than a decade ebbs, members of our investment teams are on the lookout for other signs of distress.

With a series of shocks hitting the emerging-market sovereign bond universe in recent years, investors need to be alert to the danger individual countries’ debt is being placed in the wrong risk bucket and mispriced, argues Carmen Altenkirch.

China looks set for a rapid economic rebound in the first quarter after finally abandoning its zero-COVID policy. But will the recovery prove temporary as longer-term dynamics reassert themselves?

We take a visual approach to explain what’s happening with bonds, equities and oil.

Oliver Judd and Betty Sanchez Torres argue that despite a recovery in prices, banking sector securities continue to offer value so long as a deeper recession is avoided.

Despite ongoing market volatility and geopolitical uncertainty, 2023 could bring attractive opportunities for fixed-income investors, says Barney Goodchild.

James Vokins and Chris Higham from our credit team believe the path of inflation will remain the central question for investors in 2023. Fixed-income investors should remain cautious until that path is more certain, but fundamental analysis can still uncover attractive opportunities.

Our liquidity team give their take on what the challenging market environment means for positioning in 2023.