Fixed Income

With regard to ESG, insurers have a distinct challenge. ESG factors can influence both assets and liabilities.

Loomis Sayles analyses the big changes underway in central bank balance sheet policy globally.

Given the diversification of the market in terms of issuers and securities, a rigorous analysis is imperative. Because greenwashing is an ambush.

How do REITS perform in a rising rate environment? The answer varies because different types of interest rates (Federal Funds, 10 year Treasury, Corporate Bond yield etc) have very different cycles.

Here, we explore how yields have moved during past periods and offer takeaways for pension investors to consider as they navigate the current cycle.

The Greenium – the yield that investors concede to companies issuing a green bond compared to the performance they would have required from these same companies for a conventional bond with the same maturity – was long perceived as volatile, hovering in one direction or another according to the seasonality. But it finally became a key issue in 2020.

We are still placing too much hope in carbon capture technologies and offsetting mechanisms, but it is increasingly urgent to electrify our uses, to decarbonize the electricity produced and more generally, to adopt the innovative and virtuous solutions that are already available.

A quarterly look at data and topics in the syndicated loan market.

It’s a rare fixed income asset class that has the potential to both increase yield and lower volatility.

In an environment of rising inflation and low growth, Loomis Sayles expects real yields to fall and TIPS (Treasury Inflation Protected Securities) to outperform nominal Treasurys.

How to measure the impact of climate change on carbon-exposed bonds? The Loomis Sayles Disciplined Alpha team assesses carbon risk in their bond portfolios with their proprietary Carbon PI metric.

Loomis Sayles’ sector teams are composed of traders, analysts, strategists and portfolio managers immersed in their respective sectors of the market. They all answer three questions that are top-of-mind for many investors.

Key implications and Mirova’s vision of the green bond market.

Loomis Sayles believes that an allocation to bank loans can be a strong addition to a fixed income portfolio for both the short-term and long-term investor.

A quarterly look at data and topics in the syndicated loan market.

Discover Loomis Sayles’ latest quarterly outlook.

Natixis Investment Managers' affiliates share their thoughts on what might be on the horizon for investors in 2022.

Loomis, Sayles & Co. Fixed Income investment experts share what they’ll be watching in 2022, from inflation to shifting China growth, and yield plays.

Olivier Trecco, Co-Head of ESG Solutions at Natixis IM Solutions, explains how Natixis IM and its affiliate are able to develop bespoke investment solutions for insurers.

Green and sustainable bonds constitute the best vehicles on bond markets to accelerate the low-carbon transition.

Loomis Sayles’ Disciplined Alpha Fixed Income team believes they can produce alpha consistently by understanding where bonds should trade at any given time and making good judgments within a structured process every day.

Discover Loomis Sayles’ latest quarterly outlook.

A quarterly look at data and topics in the syndicated loan market.

An in-depth analysis of the sustainable bond market, its outlook for 2021 and its main drivers.

The long US dollar bull market may be coming to an end.

The Loomis Sayles Core Fixed Income team explains why investment grade fixed income should always have a place in a diversified portfolio, despite a low global interest rates environment.

The team explains why weighing ESG impacts is important when analysing the value of a business.

The ongoing search for yield is leading investors to think outside the box and look at alternative income sources.

Discover Loomis Sayles’ latest quarterly outlook.

A quarterly look at data and topics in the syndicated loan market.

AEW evaluates the REIT performance under fluctuating interest rate conditions, both long and short, inflation conditions, and credit risk profile of the general corporate sector.

Asia’s Road to Recovery – Uneven but in the Right Direction.

Callable Bonds: which bonds SCR credit calculation method, what is the impact on their use?

A Loomis Sayles expert looks into duration risk, credit fixed-income and intermediate fixed-income.

How to manage money market funds sustainably?

Long-duration fixed income can play an important role in portfolios attempting to hedge against pension or long insurance liabilities, deflation, equity risk or simply taking a view that long-duration yields will decrease.

Investors appear to be focused on the government’s pandemic-related stimulus and vaccination programs, and are questioning inflation expectations and the implications for real yields.

More than ever, green bonds are the focus of attention and the curiosity they are arousing is equalled by the questions they have raised.

Insurers swapping out bond portfolios for higher-yielding credit instruments found deep in the capital structure.

We believe this is an exceptional period in global market monetary policy. In real time we are witnessing several countries using yield curve control (YCC) policies in varying forms.

A quarterly look at data and topics in the syndicated loan market.

Economic and earnings growth may exceed consensus expectations if the global economy continues to accelerate. Though we anticipate higher US Treasury yields, we doubt a modest rise in rates could meaningfully derail credit and equity market performance in the months ahead.

A closer look at the fundamental differences between the US and European Leveraged Loans markets.

A quarterly look at data and topics in the syndicated loan market.

Ostrum AM analyses the impact of the pandemic on the Euro credit market.

Last March, The Covid-19 crisis ignited the sharpest economic downturn in modern history, sending financial markets into a tailspin.

A quarterly look at data and topics in the syndicated loan market.

Economic activity rebounded sharply over the third quarter, pushing the global economy out of the downturn phase of the credit cycle.

A quarterly look at data and topics in the syndicated loan market.

The global economy is transitioning from the downturn phase of the credit cycle into credit repair.

After several years of sovereign downgrades, there has been a decoupling of the corporate asset class from the sovereign space.

Ostrum AM has taken a closer look at this market to assess its features, opportunities and limitations of this new product.

Multi-Asset Credit investing is the process of gaining exposure to a globally diverse mix of credit-focused asset classes and sector exposures in a single portfolio.

Why DC schemes may need to rethink their default options.

Q&A with Loomis Sayles Global Fixed Income Portfolio Managers

Consumer asset-backed securitized (ABS) sectors should continue to face headwinds as consumers feel the full impact of the dramatic economic slowdown ignited by the COVID-19 outbreak.

Michael Crowell and Tom Fahey of Loomis, Sayles, & Company look at how periods of maximum uncertainty often make the most attractive entry points.

The extreme shock caused by COVID-19 came at a time when global central bank policies were coalescing toward a more accommodative stance to keep the late expansion phase of the credit cycle going.

We believe the expansion phase of the credit cycle is over. Several countries are now heading into downturns, largely because of the demand shock from Covid-19.

Ostrum Private Debt Real Assets team looks into the direct and indirect impacts of the COVID-19 crisis on the infrastructure sector.

Nonbank lenders now dominate the US mortgage market for loans to low-income families guaranteed by the federal government. They are heavily reliant on short-term funding and have only a slim cushion to weather a shock.

Ostrum Asset Management expert’s economic and market analysis.

A quarterly look at data and topics in the syndicated loan market.

If neither the structure of life insurers’ assets changes, nor the level of long-term interest rates, the attractiveness of life insurance for savers may rapidly diminish.

A fixed income alternative in a low rate environment.

A quarterly look at data and topics in the syndicated loan market.

Most asset classes have earned strong total returns year to date and could continue to rally through year-end.

Investors may view emerging markets as particularly vulnerable to volatility, since the asset class typically sees outflows during times of market stress. However, emerging markets are not all one and the same.

Considering the current macroeconomic environment with little expectation for a rise in interest rates in the short term, insurers may want to consider a more dynamic approach to lock in spread levels.

Keving Kearns, Portfolio Manager and Senior Derivatives Strategist at Loomis, Sayles & Co, discusses the diversification and drawdown management benefits arising from balancing interest rates and credit risk through a multi-asset credit strategy.

Understanding Loomis Sayles' approach for investment grade corporates

Loomis Sayles' sector teams return scenarios and relative value recommendations for 2019

Collective defined contribution (CDC) is part of the fabric of Dutch society. Could it be exported to the UK?

Fixed income investors may be stymied by the current mix of interest rate projections and global macroeconomic news.

A buy and maintain strategy focuses on a desired level of income and aims to ensure the bond portfolio is not impacted by default risk as interest rates rise and economies overheat.

Ostrum AM uses its long-standing expertise in the management of fixed income products to develop an "Enhanced Beta" strategy that combines the benefits of active management and the smart beta approach.

A good match for fixed income investors' concerns.

Scorecard for unique Enhanced Beta investment strategy.

Multi-asset credit strategies aim to capture global credit risk premiums.

The high yield market can provide compelling investments within most stages of the economic cycle.

Four key insights on Golden State residents and green bonds.

How a combination of member profiling and applying a risk-first investment approach improves member outcomes.

Compared to investment grade bonds, corporate loans provide a sizeable yield pick-up and excellent risk-return characteristics relative to other credit instruments.

Non-US investors could benefit from allocating to US municipal bonds.

How to incorporate SCR constraints into the portfolio allocation for insurer.

Mirova discusses market standards and the lack of a regulatory body for Green Bonds.

Rapid growth of green bonds shows that investors are seizing the opportunity to drive energy transition.

Insurers need innovative investment strategies in response to regulation and low yields.

Private debt can be a lower-risk, higher-yielding alternative to traditional bonds.

Improved assessment of carbon impact could spur ESG investment and drive innovation.

NAM Fixed Income ideas.

With the rise of artificial intelligence, nanotechnologies and genomics, we are at the dawn of a period of intense technological progress in life sciences.

Seeking to respond to rapid shifts in markets while reducing risk.

A fixed income strategy combining active management and smart beta.

New regulations raise the bar for liquidity management.