Trade opportunities
The huge amount of uncertainty around future cashflows of businesses across all sectors has meant that conservatism from managers is the order of the day.
Trade opportunities
Following on from our assessment a month ago about the likely path of a post COVID-19 recovery, we update the recent macro data and look at bond market options.
Trade opportunities
New issues update
Trade opportunities
The start of a new financial year is a traditional time to take stock and see how one’s portfolio has performed.
Trade opportunities
The month of June has seen an overall consolidation in bond markets. Yields have broadly been stable, with US and Australian 10-year government yields unchanged for the month.
Trade opportunities
The recent risk market rally reflects hope for a sharp recovery as economies slowly reopen. However, bond markets are once again diverging from equities and predicting a different future. Call me biased but my bet is on bonds. Bond markets are seldom incorrect in the long run. For now investment grade credit is best placed to navigate risks without foregoing too much return.
Trade opportunities
As we have highlighted in our recent article "Hope is not a strategy", risk assets, in particular the equity market, are pricing in a decidedly V-shaped recovery from the CO\/ID-19 lockdown and subsequent economic shock. We feel that path is unIikely with a U or even L shaped recovery a more probable outcome and suggest investments to consider on that basis.
Trade opportunities
1H20 results: solid, bar a few 'own goals'
Trade opportunities
A re-introduction to our sample bond portfolios. These are designed to offer an optimal mix of diversification, whilst still providing the best balance between risk and return.
Trade opportunities
Investing in a DirectBond portfolio through FIIG means you will have control over what you invest in, when you buy and sell, access to daily pricing and market leading reporting. This note suggests a beginner’s portfolio that can be scaled up or down and meets my suggested 70% investment grade, 30% high yield allocation