Hints and tips:
...Erkan’s rate rises sparked a sell-off in Turkish government bonds, sending yields rising and heightening their allure for foreign fund managers....
...The bank is committed to holding its $91bn portfolio of bonds to maturity, an important accounting designation that shielded its profits from turmoil in financial markets last year, as long-term bond yields...
...Despite selling pressure from international investors worried about defaults, demand from Chinese buyers has pushed the average yield on debt in the iBoxx China LGFV high-yield dollar bond index down about...
...It is would not be surprising if private credit returns followed the same pattern relative to high-yield bonds....
...But if I showed you a bond that was win two, lose one, that’s a better bond! Markets adjust to that bond’s positive convexity, though, so you’d get paid less yield. But how much less yield?...
...fund....
...And high-tax payers will put it into general municipal bond funds....
...In that capacity, he is responsible for $1.7tn in investor assets, in just about every form of fixed income, from municipal bonds to private credit....
...Pension funds are the biggest group of investors in the high-yield private credit market, driven by a desire to diversify away from government bonds, which have been hit in recent years by the prospect of...
...“There’s been a buying frenzy for LGFV bonds in recent months, and it has gone even crazier in September,” said a Shanghai-based high-yield bond investor in a private equity firm, who declined to be named...
...High-yield bonds are not the only shrinking asset class....
...In the US, cities such Detroit have defaulted on municipal bonds....
...The manager’s US iBond business, which includes Treasuries, municipal bonds and both investment-grade and high-corporate debt, attracted inflows of $8.1bn during 2022, and a further $5.2bn in the seven months...
...Meier said the final results would vary across the funds, but he expected to see a reduction in the proportion of assets invested in equities and an increase in fixed income, high-yield bonds and private...
...Big investors say they are steering clear of UK government bonds despite some of the highest yields in the developed world, fearing that the country’s outsize inflation problem will push borrowing costs...
...The latest survey of fund managers by Bank of America showed investors were the most overweight in investment-grade bonds compared with their high-yield counterparts since 2008....
...So you want to be sensitive to the starting level of yield. And right now, again, you said yields are 10- to 15-year highs, depending on where you look. Pretty good....
...Real rates, using yields on 10-year inflation-linked bonds (Tips) as a proxy, are indeed high but have fallen nearly 50bp since the peak in October....
...If I can get 5 per cent in the bank, hedge funds need to explain what they can do for me given that the industry has proliferated and charges high fees . . . the whole hedge fund industry needs to do some...
...US money market fund assets have swelled to a record high this week, as the best yields available in years and the early May collapse of First Republic Bank kept investors piling into the low-risk vehicles...
...This is nicely illustrated in the following chart and table, taken from Raymond James’s Municipal Bond Investor Weekly....
...Notional yields of these supposedly high-grade instruments had risen as high as 150 per cent. The Swiss bank insisted it would continue with a complex restructuring. But circumstances have changed....
...From Drexel’s Beverly Hills outpost, Milken had opened up a whole new frontier for the global fixed income market: high-yield bonds among supporters, or junk bonds according to detractors....
...Billionaire hedge fund manager Bill Ackman made a profit of about $200mn from his high-profile bet against US 30-year Treasury bonds, according to people familiar with the trade....
...Treasury bills are short-term bonds that mature anywhere from a few days to a year after they are issued, and they can offer yields as high as 5 per cent now that the Federal Reserve has raised US interest...
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