Die Renditen von erstklassigen festverzinslichen Wertpapieren haben sich in den vergangenen 25 Jahren kontinuierlich verringert. Wie man in diesem Umfeld mit einer Multi-Asset-Credit-Strategie noch Alpha generieren kann, darüber sprachen wir mit Garland Hansmann, Portfolio Manager bei Investec Asset Management, auf der Investment-Konferenz von FondsConsult.
Pressure on emerging market debt has eased, despite ongoing market pricing of more Fed rate hikes in 2018. As long as this pricing remains orderly, the risk-reward of the EM carry trade remains attractive.
We decided to reduce our stance on fixed income spread products to neutral as valuation in certain categories is high, behavioural dynamics have weakened and liquidity is getting low towards the end of the year.
Günstigere Währungsbedingungen haben zur Folge, dass 2018 die Fundamentaldaten verstärkt die strategischen Trends bestimmen, allen voran ein Fokus auf die Notenbankpolitik, meint Martin Arnold – Director – FX & Macro Strategist bei ETF Securities.
WisdomTree, Sponsor von Exchange- Traded Funds („ETF“) und Exchange-Traded Products („ETP“), gab heute die Markteinführung von drei Boost ETPs bekannt, die Investoren ein inverses Engagement in britischen Gilts, deutschen Bundesanleihen und US-Treasuries bieten.
Wenige Wochen vor dem Jahreswechsel geben Anlageexperten von UBS AM ihren Marktausblick 2018. Die Studie legt die anhaltende Suche nach Wachstum und Income von Investoren dar.
Next year will be challenging for fixed income, but the pace of bond yield normalisation is likely to be gradual. Volatility in spread products may increase as a result of tight valuations and positioning risk, but strong fundamentals will keep spreads low.
Investors often fear a flattening of the US yield curve as it tends to suggest a lower growth environment ahead. But we think quantitative tightening will likely have an unprecedented impact on the US bond market, just as QE did.
In the 12 months since Donald Trump was elected US president, stockmarkets have hit record highs. Will the rally continue?
Markets remain firmly focused on positive macroeconomic fundamentals and the longe-term investment implications of a low-rate, low-inflation environment. A few events could throw the market bulls off course, including a material shift higher in developed market sovereign bond yields.
