Jack Stephenson

Sep 12, 2024 | trustnet.com | Jack Stephenson |Axa Im

In 2023, many investors expected that the Federal Reserve’s (Fed) aggressive monetary policy tightening would lead to a potential recession and a pick-up in defaults in the high yield market. Given this backdrop, the broad market consensus was for investment grade to outperform high yield and, within high yield, higher quality BBs to outperform lower quality CCCs.This consensus was wrong.

Aug 26, 2024 | dasinvestment.com | Jack Stephenson

Der Markt für Festzinsanlagen (oft Anleihen genannt) ist ein großes Anlageuniversum und besteht aus zahlreichen Wertpapieren, die sich in Laufzeit, Rendite und Risikoprofil unterscheiden. Bei allen Finanzanlagen steigt das Risiko mit den Ertragsaussichten – Anleihen sind dabei keine Ausnahme. Grundsätzlich gilt, dass Staatsanleihen eher geringe Risiken haben, während sogenannte High-Yield-Anleihen ohne Investmentgrade-Status höhere Risiken bergen. Warum in Anleihen investieren?

Jul 16, 2024 | trustnet.com | Jack Stephenson

Looking at the healthy state of the US corporate credit market today – the jewel in the crown of the global credit universe – one could be forgiven for forgetting about the heavy price paid by all fixed income assets to get to this point. The recent inflationary spike and the Federal Reserve’s subsequent aggressive pace of policy tightening saw the ICE BofA US Corporate index suffer consecutive negative return years in 2021 and 2022 for the first time since records began in 1973.