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US high yield may be less stretched than you think
US high yield may be less stretched than you think
BOJ: Time to turn positive
The Bank of Japan took an historic step in its March meeting, ending the era of negative interest rates. But the tone of the central bank was cautious overall.
Get real: 2024 and the need for income
For the first time in years, the interest available on cash deposits is tempting. However, parking money in ultra-defensive options comes with its own risks.
How China keeps its debt in order
What is the fiscal firepower of the Chinese government? Depends on how much debt you think China really has. Our analysis is revealing.
Chart Room: After a record-breaking year, where next for leveraged finance
Chart Room: After a record-breaking year, where next for leveraged finance
Chart Room: China’s booming panda bond market not so black and white
The panda bond market boomed in 2023. But the market still faces hurdles, including poor liquidity and competition from the offshore ‘dim sum’ bond market.
Axing the ‘ex-Japan’: a new era for Japanese bonds
Tailwinds from index reform to rate-hike expectations are lifting Japan's bond market from the doldrums, breathing new life into what was a dull backwater.
Chart Room: A waiting game on rate transmission
The US continues to defy the gravity of rate hikes but a closer look at monetary policy transmission mechanisms suggests the effects are delayed, not denied.
Chart Room: Catching the turn on bond yields
Chart Room: Catching the turn on bond yields, Fixed Income CIO Steve Ellis discusses the recent bond sell-off.
Chart Room: Putting the high back into high yield
The era of ultra-low coupons in the European high yield bond market is coming to an end, but higher financing costs also means elevated risk for businesses
Chart Room: Is ‘higher for longer’ the new normal for funding costs?
Chart Room: Is ‘higher for longer’ the new normal for funding costs?
Chart Room: What 80 years of data (and 11 recessions) say about today’s macro outlook
Historically, a tightening in financial conditions like the one that we have seen over the last year invariably led to a recession.
Chart Room: Utilities less useful as bond proxies
Rising interest rates in the US are testing the notion of utility stocks as bond proxies, as ties between their P/E ratios and corporate bond yields weaken.
The Fed can’t paint over the cracks for long
Fidelity International's Chief Investment Officer for fixed income on what the SVB collapse means for the Fed and monetary policy.
Chart Room: 2021’s long goodbye to transitory inflation
Five charts that show the inflationary impact of 2021’s reopening cycle
The inflation puzzle and how to tackle it
Will inflation return despite dis-inflationary forces?
Chart room: Japanification and the rise of the widow maker trade
Chart room: Japanification and the rise of the widow maker trade
Low bond yields are here to stay, even if fiscal stimulus returns
Even if fiscal stimulus makes a return, we think low bond yields will stay because of central bank action and late-cycle effects
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