Outsmart: Mastering
the new normal
Finding opportunities in growth equity, fixed income, real estate, and alternatives in a rapidly changing global landscape.
BOND INVESTING IN AN UNCERTAIN WORLD
The recent investing landscape has included a precipitous drop in economic activity, unprecedented volatility, and uncertain growth prospects. At the same time, massive support by central banks has provided stability for fixed income markets. In a bright spot for credit investors, companies have shifted their attention from prioritising shareholders to ensuring their own survival, by focusing on liquidity and their balance sheets. This has set the stage for a ‘golden age of credit’ that offers opportunities for an experienced active investment manager to add value.
This instalment in a multimedia series by PGIM Investments and Citywire examines how the pandemic has affected bond markets, and looks at opportunities and risks on the horizon for fixed income investors.
HIGH YIELD: TODAY’S FIXED INCOME SWEET SPOT
Jonathan Butler, Managing Director and Head of the European Leveraged Finance Team for PGIM Fixed Income, discusses the current case for high yield, the influence that central banks have had on markets, and the role of ESG considerations within fixed income.
3 REASONS TO EMBRACE BONDS
Why has credit entered a boom cycle? New issuance is up and valuations are down, and company positioning is expected to benefit debtholders more than equity investors.
NAVIGATING OPPORTUNITIES AND HAZARDS
In this podcast, we hear from Michael Collins, Managing Director and Senior Portfolio Manager for PGIM Fixed Income about positioning for today’s environment. He notes that, “as the broader economy continues to recover, companies are going to increasingly generate free cashflow and use a lot of that to reduce the debt they piled on,“ emphasizing that, “we’re in the sweet spot of the credit cycle for bond holders”.
Find out more
PGIM Fixed Income is one of the largest and most experienced active fixed income managers in the industry with $946bn asset under management*. Its intensive credit research and risk-management approach to investing can be traced back 140 years.
THE BOND BLOG @PGIM FIXED INCOME
Featuring our fixed income and macroeconomic quick takes.
ALL THE CREDIT
Looking for timely information on fixed income trends and market opportunities?
