Bonds outflows fastest since taper tantrum
Outflows from bonds funds have continued at a remarkable pace with high-grade funds suffering outflows of $3.01bn over the past week, the largest since the ‘taper tantrum’.
Fixed Income
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Credit funds suffer as markets mis-read rate rise
If ever there was an area of the fixed income market to be investing in that is dominated by sentiment then, since May at least, corporate credit is probably it.
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Axa IM targets renminbi with EMD expansion
Axa Investment Managers is preparing for a “major initiative” into the renminbi bond market with a significant shift within its emerging market debt offering.
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Risky bonds – firmly back in European favour
Emerging market debt and high yield bonds, which have had some pretty high inflow volatility recently, are now firmly back in favour with European investors.
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Eaton Vance fund targets income stability amid volatile markets
Eaton Vance Management has expanded its international credit offering with the launch of a multi-sector income vehicle.
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PA ANALYSIS: Have trusts chosen the perfect time to take on more debt?
Whisper it, but investment trusts are quietly increasing gearing. Six years into a bull market, the question is can they be sure this is the right way forward?
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Fed rate hike will cause ‘modest corporate discomfort’ – Fitch
Fitch Ratings has said a gradual hike in the United States’ base interest rate would likely result in lower profits and slower growth, due to increased borrowing costs for US companies.
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Mis-rated bond funds may be misleading investors
Increasing bond market illiquidity may be causing investors to buy funds with miscalculated ratings, according to Fundhouse.
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PA ANALYSIS: Do we really need more bond funds?
With liquidity shrinking, volatility rising and the spectre of a first rate hike since 2009 looming ominously, it would be understandable to think that new bond fund launches would be few and far between.
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Nervous fund managers loading up on cash- BAML survey
Increasingly nervous fund managers are swiftly pulling money out of equities funds in favour of cash, according to June’s Bank of America Merrill Lynch fund manager survey.
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Has the bond world gone completely mad?
Being right, but far too early, must be reclassified as just being wrong for a very long time, says Justin Oliver, deputy CIO at Canaccord Genuity Wealth Management. But the question is, is the government bond market one of those cases?
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PA ANALYSIS: Time to forget about ‘safe havens’
The events of recent weeks could lead investors to draw a stark conclusion; there is no such thing as a ‘safe haven’ in investment terms any more.