Even if the combination of Brexit and technology keeps UK GDP growth and inflation at modest levels, the risk
of global bond yields and real yields rising further has increased.
Separately, they also argued that bond yields are the «Achilles» heel of global markets,» arguing that «market pricing on Fed rate hikes, however, remains modest and there is to our minds significant risk of a more disorderly repricing
of global bond yields.
Not exact matches
The JPMorgan Emerging Markets
Bond Index
Global, a U.S. dollar - denominated index
of 65 emerging - market countries,
yields about 5 %.
A spike in
bond yields and a clear change
of direction from central banks means there isn't a lot
of value in
global bond markets, a fund manager told CNBC on Tuesday.
Dip in share prices and
bond yields, along with the upcoming election has had an impact on the state
of the
global economy, causing a setback in business travel growth.
Lewis, fund's chief investment officer, spent nine years at Citigroup as a director
of the bank's
global special situations group, a $ 5 billion prop - trading group that specialized in distressed debt, high -
yield bonds, and value equity.
While many analysts were predicting
bond yields to rise this year as
global economies improve, the suddenness
of the move was a large factor in the recent stock market selloff.
Treasury
yields pull back sharply Thursday after the reemergence
of trade tensions between
global powerhouses rattles investors, pushing stocks down and
bond prices up
Following the election in the United States, there has been a rapid back - up in
global bond yields, partly reflecting market anticipation
of fiscal expansion in a US economy that is near full capacity.
Global bonds are vulnerable due to low current
yields, depressed term premia1 and the desire
of developed - market central banks to unwind unconventional policies.
Banks «earned their way out
of debt» by lending to
global speculators who used the yen loans to convert into foreign currency and buy higher -
yielding assets abroad — capped by Icelandic government
bonds paying 15 %, and pocketing the arbitrage difference.
At the same time, some 70 per cent
of government - issued
bonds are
yielding 1 per cent or less, and when you combine the equity /
bond value
of the 15 largest
global markets they've never been more expensive.
Since the
global financial crisis in 2008 - 09, a combination
of low inflation expectations and a
bond - buying program by the Federal Reserve have helped keep
bond yields low but they have climbed this year as inflation has picked up and the Federal Reserve raised interest rates.
«Every time the
bond market moves dramatically and unexpectedly higher in
yield, the consensus forecast plays catch - up,» says Matthew Hornbach,
Global Head
of Interest Rate Strategy for Morgan Stanley Research.
One
of the biggest transformations in
global financial markets is the drop in government
bond yields — not only to historic lows but into negative territory.
About 30 %
of the development market government
bond universe already carries a negative yield, according to the JP Morgan Global Developed Government Bond In
bond universe already carries a negative
yield, according to the JP Morgan
Global Developed Government
Bond In
Bond Index.
RBC
Global Asset Management Inc. today announced that effective January 25, 2016, the name
of RBC Monthly Income High
Yield Bond Fund will change to RBC Strategic Income
Bond Fund...
Bond fund manager who called dollar's slide says «it's not too late to move out
of U.S.
bonds» Jack McIntyre
of Brandywine
Global says look to emerging markets for attractive
yields on sovereign bondsJack McIntyre
of Brandywine
Global says emerging markets are still the place to look for attractive
yields on sovereign
bonds.
2015.12.10 RBC
Global Asset Management Inc. announces fund name change RBC
Global Asset Management Inc. today announced that effective January 25, 2016, the name
of RBC Monthly Income High
Yield Bond Fund will change to RBC Strategic Income
Bond Fund...
2016.04.05 RBC
Global Asset Management Inc. closes PH&N High
Yield Bond Fund to New Investors RBC
Global Asset Management Inc. today announced that as
of April 7, 2016, PH&N High
Yield Bond Fund («the Fund») will be closed to new investors...
Global bond yields remain relatively low, reflecting expectations that global interest rates are still likely to remain low for some time, notwithstanding upward revisions to those expectations in the past couple of m
Global bond yields remain relatively low, reflecting expectations that
global interest rates are still likely to remain low for some time, notwithstanding upward revisions to those expectations in the past couple of m
global interest rates are still likely to remain low for some time, notwithstanding upward revisions to those expectations in the past couple
of months.
Composite Treasuries Sentiment: Taking a broader view
of bond market sentiment (our composite
bond market sentiment indicator combines the signal from futures positioning, fund flows, implied volatility, and
global bond market breadth), it's readily apparent that
bond market sentiment has seen a reset from relatively stretched bearishness to just on the bullish side
of neutral (i.e. the indicator is saying participants have gone from expecting higher
bond yields to expecting lower
bond yields).
But we prefer shorter - duration Treasuries, as policy shifts that steepen
global yield curves make us cautious
of longer - duration U.S. government
bonds.
Meanwhile, emerging market
bonds that make up the J.P. Morgan EMBI
Global Core Index, currently offer similar yields and may benefit from global reflationary trends despite the potential challenge of higher valuations and a rising U.S dollar in the short
Global Core Index, currently offer similar
yields and may benefit from
global reflationary trends despite the potential challenge of higher valuations and a rising U.S dollar in the short
global reflationary trends despite the potential challenge
of higher valuations and a rising U.S dollar in the short term.
The dollar's weakness should continue in at least the very short term, as
bond yields keep on descending in the wake
of QE2 and investors flock to non-dollar-denominated assets, says Marc Chandler,
global head
of currency strategy at Brown Brothers Harriman, based in New York.
Over time, MFS has been a leading innovator in the asset management industry, including creating one
of the first in - house research departments in the mutual fund industry in 1932, launching the first high -
yield municipal
bond fund and the first
global balanced fund, and more recently creating «outcome - oriented» products, such as its line
of target - risk, target - date, and other asset allocation strategies.
It may be a while before government
yields in the developed world rise enough to entice income seekers, but other areas
of the broader
global bond market may be attractive.
If we look at the Bloomberg Barclays
Global Aggregate Financial Yield to Worst (below) we can see that in 2008 yields of global financials bonds spiked above 8 % and since then, they have gradually retreated to lower l
Global Aggregate Financial
Yield to Worst (below) we can see that in 2008
yields of global financials bonds spiked above 8 % and since then, they have gradually retreated to lower l
global financials
bonds spiked above 8 % and since then, they have gradually retreated to lower levels.
As
yields go out, it lowers the collateral value
of the
bonds and as we were saying earlier before we began the show, Richard, the
global swaps marketplace is over $ 600 trillion and at least $ 400 trillion
of that is in
bonds.
From early May to mid June, domestic
bond yields followed
global yields lower on concerns about potential deflationary pressures in the US and related expectations
of easier monetary policy abroad and in Australia.
On that occasion Australian
bond yields rose significantly more than those in the US, reflecting market concerns that Australia would not be able to maintain control over inflation in an environment
of strong
global expansion.
Just as well, since more than a quarter
of JPMorgan's
Global Government
Bond Index, or $ 6.4 trillion worth
of debt, was trading with a negative
yield last week.
One
of the good things about
global uncertainty is that investors seek the security
of bonds, thereby lowering
bond yields.
The fund seeks to achieve this by leveraging BlackRock's
global capabilities to strategically gain exposure to thousands
of investment - grade and high -
yield bonds from Canada, the U.S., Europe and emerging markets.
Offering access to all areas
of the
bond market, our range includes
global, major market and strategic
bond funds as well as specific areas such as high -
yield and government debt.
Thanks to lackluster
global growth, and rock - bottom interest rates in the United States — and even negative rates in other parts
of the world — investors face the choice
of either accepting lower income or increasing risk in their
bond portfolios in the search for
yield.
The appeal
of preferred funds is they offer higher
yields than
bond ETFs, explains Alfred Lee, vice-president
of BMO
Global Asset Management and lead manager
of the bank's Laddered Preferred Share Index ETF (TSX: ZPR).
There are a number
of global factors that contribute to negative
bond yields, however it's worth clarifying that there is a difference between negative
yields and negative rates.
John Hollyer,
global head
of Vanguard Fixed Income Group, discusses the recent rise in
bond yields and what that's meant for Vanguard's
bond funds.
The
yield on US government
bonds is often considered an example
of what the
global bond market considers to be a «risk-less» rate
of return.
About 30 %
of the development market government
bond universe already carries a negative yield, according to the JP Morgan Global Developed Government Bond In
bond universe already carries a negative
yield, according to the JP Morgan
Global Developed Government
Bond In
Bond Index.
One
of the biggest transformations in
global financial markets is the drop in government
bond yields — not only to historic lows but into negative territory.
The structural slowdown in
global economic growth and dramatic drop in
bond yields represent a paradigm shift that is forcing a rethink
of portfolio allocations.
Fixed - income ETFs manage about US$ 576 billion
of global assets, ranging from Treasuries to high -
yield corporate
bonds and emerging - market debt.
As central banks move away from ultra-loose monetary policy, and the
global economic expansion matures,
bond fund managers will need to ensure their portfolios draw on a truly diverse range
of sources
of return and carefully consider portfolio risk if they are to generate
yield in the current market environment.
The
yield of Chinese
bonds trended lower, aligning with the
global market.
Under J.R.'s management, S&P Dow Jones Indices has launched a
global suite
of fixed income indices, which includes a focus on transparency for municipal, corporate, and high -
yield bonds, senior loans, and sovereign debt.
The U.S. has often led moves in
global bond yields, such as during the «taper tantrum»
of 2013 when then Federal Reserve Chairman Ben Bernanke sparked a
global bond market rout by signaling the beginning
of the end
of quantitative easing.
Global yields have started the new year lower, as the
yield of the S&P
Global Developed Sovereign
Bond Index was 1.05 % as
of Jan. 5, 2015.
Contrarily, as part
of the S&P
Global Developed Sovereign Inflation - Linked
Bond Index that measures the performance
of the inflation - linked securities market, the S&P Japan Sovereign Inflation - Linked
Bond Index rose 3.84 % YTD, see Exhibit 3, and its
yield - to - maturity has also shifted from negative territory to 0.648 % in the same period, which is a level last seen in early 2012.