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...Inflows into corporate bond funds have reached $22.8bn so far in 2024, according to fund tracker EPFR, the first positive start to a year since 2019, when $22.4bn had flowed in by this point....
...BlackRock will cap the fee on its $10.3bn iShares Broad USD High Yield Corporate Bond ETF at 8 basis points, the firm disclosed on Tuesday....
...Investors poured record sums into high-yield bond exchange traded funds in November as investors rediscovered their appetite for risk....
...PIKs have always been at the risky end of the high yield spectrum, and MainFT has tended to strike a cautious tone around pretty much any firm that issues them, quoting one banker calling them a “Hail Mary...
...and transaction costs are high.”...
.... — Bond indices are dumb; by weighting according to size it means a passive fund is tilted towards the most heavily-indebted countries and companies in the world. — Index funds don’t buy at issuance, which...
...So the all-in yields are still pretty high because the Fed rate is still pretty high. It’s at a 20-whatever-year high....
...High yield at a yield of 8 per cent looks even better… Credit spreads of 95 basis points in investment grade corporates and 325 bps on high yield are towards the tighter end of their long-term ranges, but...
...EFPR Global data indicates that net fixed income fund inflows have now crossed the $100bn mark — and, luckily for all bond managers, active flows are outpacing passive ones so far in 2024....
...But it also cannot be the scapegoat for all UK corporate woes....
...A record $1.2bn has flowed in to European-listed exchange traded funds investing in the region’s high-yield bonds this year to Thursday, according to BlackRock data....
...Is corporate credit too crowded? For a gestalt image, start with the Bank of America fund managers’ survey....
...governance and may potentially cause further detriment for long-term investors and the savers served by fund managers and pension funds....
...The iShares iBoxx $ High Yield Corporate Bond ETF (HYG) and SPDR Bloomberg High Yield Bond ETF (JNK) bore the brunt, with outflows of $2.8bn and $1.6bn respectively, according to VettaFi’s data....
...“We still really like high-yield corporates, but we also like BBB corporates,” Bianco said....
...Fixed income funds reported inflows of $42bn and equity funds received $18bn, for total long-term flows of $76bn....
...If I were a fund manager combing through this data, I might be inclined to select companies with a high management score but the most room to improve, on the basis that they’re most likely to be able and...
...It can yield impressive results. vanessa.houlder@ft.com...
...The volte-face was particularly notable in high-yield bonds, which saw year-to-date net outflows of $8bn as of October 27, but then took in $17.1bn in the remainder of 2023....
...However, the overwhelming bulk of the assets will be invested in an actively managed portfolio of bonds, much of it in relatively high-yielding bank loans, high-yield bonds and emerging markets debt, to...
...Unhedged: With the economy strong and rates set to fall, corporate credit — especially high-yield bonds, but also investment-grade and leveraged loans — feels like the trade du jour....
...I thought this stat was unbelievable: 72 per cent of high-yield companies refinanced when the fed funds rate was under 1 per cent....
...Yields on ultra-safe US government bonds and investment grade corporate debt have surged over the past two years as interest rates have risen....
...The letter raised concerns about so-called naked short selling, where fund managers make bets on stock falls without borrowing them in advance. Naked short sales have been banned in the US since 2005....
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