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We hope you find some interesting perspectives in our latest fixed income insights.
Emerging Market Debt Outlook
Opportunities Amid Uncertainty
EM central banks have started cutting rates, although a key focus for EM investors in 2024 will be around when and how much the US Federal Reserve cuts rates.
Private Credit Allocations vs Leveraged Loans and High Yield
For investors weighing investments in the sub-investment grade space, we assess the strong growth of private credit assets and consider how the greater liquidity and flexibility of leveraged loans and high yield bonds can present complementary or alternative portfolio exposures.
Bonds are Back
From a risk/reward perspective fixed income is probably the most attractive asset class this year.
- What makes sense to invest in now?
- What should you hold off on?
Disclaimer
**Pensions & Investments Research Center, as of 12/31/22.
†This figure is presented as of December 31, 2023 and includes approximately $64.44 billion USD of assets with respect to SPDR products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.
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Bonds generally present less short-term risk and volatility than stocks but contain interest rate risk (as interest rates raise, bond prices usually fall); issuer default risk; issuer credit risk; liquidity risk; and inflation risk. These effects are usually pronounced for longer-term securities. Any fixed income security sold or redeemed prior to maturity may be subject to a substantial gain or loss. International Government bonds and corporate bonds generally have more moderate short-term price fluctuations than stocks but provide lower potential long-term returns. Investments in emerging or developing markets may be more volatile and less liquid than investing in developed markets and may involve exposure to economic structures that are generally less diverse and mature and to political systems which have less stability than those of more developed countries. The returns on a portfolio of securities which exclude companies that do not meet the portfolio’s specified ESG criteria may trail the returns on a portfolio of securities which include such companies. A portfolio’s ESG criteria may result in the portfolio investing in industry sectors or securities which underperform the market as a whole.
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