Market insights

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After a positive first half of the year, high-yield bonds still offer high yields and therefore an effective buffer in case of widening spreads. We consider the relatively high valuations to be justified in view of the solid fundamentals.

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Investment-grade corporate bonds should be able to withstand an economic slowdown well. They therefore still appear attractive in a scenario of falling inflation and corresponding interest rate cuts by the Fed, despite delays.

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Brazil, Chile, Argentina: Three countries with very different challenges, but each of them each offers exciting opportunities. EM Portfolio Manager Tanja Kusterer spent 6 weeks in Latin America to gain insights and personal impressions. In this paper she explains where she would invest.

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The Swiss bond market is becoming more attractive again from a yield perspective. Taking into account the current hedging costs, interest rates on Swiss franc bonds are even higher than those on EUR or USD bonds.

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The traditional 60/40 allocation between equities and bonds remains widely popular. However, with a few tweaks, namely adding a moderate allocation to convertible bonds, this trusty staple of the asset management world can yield superior results without losing any of its advantages.