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...Buyers of convertible bonds are typically specialised hedge funds. They have strategies around purchasing the bonds and selling the underlying stock short in order to lock in small, risk-free returns....
...“While there are existing funds that target maturity ranges within investment-grade corporate bonds, these funds offer a new level of precision by enabling investors to target BBB-rated corporate bonds within...
...Pension funds are piling into UK corporate bonds, encouraging some French and German companies to issue sterling debt for the first time....
...Prudential also releases full year results....
...In the short term, this will lead to lower growth and inflation, as monies which would have been invested in the private sector capital stock are spent on public debt service and repayment instead....
...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....
...ETFs may be more suited for less liquid index market segments favored by long-term investors, whereas MFs may be a better fit in liquid fund market segments favored by investors with short-term liquidity...
...By late autumn, the fund manager began to assert its power, attempting to force the company to restructure its debt on Invesco’s preferred terms....
...It is tempting, however, to argue corporate bonds are more expensive than stocks....
...In recent months investors have focused primarily on short-term bonds, but in October long-term paper was almost as popular, with $10.4bn of net inflows, versus $12.6bn for short-term....
...“While more money flowing into gilts made up the bulk of this increase, investors also added cash to corporate bond funds across a range of sectors.”...
...Pension funds own about a quarter of outstanding gilts, and they are particularly dominant in bonds with maturities of 30 years, as well as inflation-linked debt, both of which they use to hedge their long-term...
...The term refers to bonds that fund investments that are not necessarily “green” per se, but should result in lower emissions from polluting economic sectors....
...MFA, for example, is also suing the agency over a rule seeking to broaden disclosures for private funds as well as rules on securities lending and short selling....
...The board said short-term credit or overdrafts, swing pricing and anti-dilution levies could add to fund expenses, while broker costs could increase when the firm seeks an extension of the T+1 settlement...
...Bassman: Best-case scenario: you’re short vol and the market doesn’t move. The worst case is that rates move a lot in the short term since you are short convexity....
...LDI funds can borrow cash at a lower interest rate using gilt repo than corporate bond repo....
...Historically BSL deals have been bigger, because they’re marketed to a wide array of investors, almost like a bond offering....
...Japan’s stock market, for all its sophistication, breadth and liquidity, became characterised by its tendency to return to the long-term mean....
...It’s not just the default risk, but where the corporate structure the terms of default will apply....
...Clive Black, a retail analyst at Shore Capital, said: “Commendable debt reduction is important and will ease pressure on Asda, but it is ceding a lot of grocery market share in the search for short-term...
...“This fall in assets is primarily due to the loss in value of gilts, corporate bonds and property,” said the regulator in its report released on Wednesday....
...In the short term, at least, though, the divergences between performance and flows will have hit ETF investors in the pocket. “Typically, ETF flows and returns are highly correlated....
...Please have your say by completing this short survey....
...Demand for riskier corporate bonds is intense. The spread between higher yielding (riskier) bonds and safer Treasuries is narrowing, and nearing long-term lows....
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