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.
The latest quarterly view on the fixed income environment and outlook from senior members of the Janus Henderson Fundamental Fixed Income Team.
Can equities sustain their stellar run in view of the coming reduction in central bank liquidity, geopolitical tensions, currency moves and stretched valuations? Have a look at the markets.
Fixed-Income-Anleger sollten ihren Blick auf Hochzins- und Schwellenländeranleihen sowie Alternative Credit lenken, um für steigende Zinsen gewappnet zu sein, wenn sich die Geldpolitik in der westlichen Welt normalisiert.
The Goldilocks scenario continues for spread products. Emerging market debt remains attractive on a risk-adjusted basis in the current environment.
After a rapid rise in yields at the end of June and early July, government bond markets are in calmer water again – at least for now. The US-German 10-year yield spread has declined significantly this year, to a large extent due to fears of ECB tapering.
