Fixed Income

Nadège Dufossé, Florence Pisani, Asset Allocation, Macro, Equities, Fixed Income, Outlook 2023

Candriam’s Outlook 2023

It's back-to-school time, and time for investment decisions... Will the US fall into recession?
Fixed Income, Monthly Coffee Break

Softening leading indicators

Against a backdrop of volatile trading, August saw the return of a correlation between risk assets and rates...
Fixed Income, Pierre Boyer, Money Market

Money markets II: A new generation

If you were intrigued by our June comment on the return of the money markets (Money markets...
Fixed Income, Monthly Coffee Break

Weak performances in European risky assets

June saw some weak performances in European risky assets and spread products, with European equities, high yield and IG corporates posting negative returns.
Nadège Dufossé, Thibaut Dorlet, Thibaud Marie-Regnault, Asset Allocation, Macro, Equities, Fixed Income, Outlook 2023

Candriam’s Mid-Year Outlook

As we reach the halfway point of the year, it seems that recession may be avoided on both sides of the Atlantic, but growth forecasts remain weak...
Fixed Income, Monthly Coffee Break

A mixed picture

With equities performing the strongest over the month, the picture was rather mixed for fixed income asset classes, with no clear outperformance from any risky asset classes.
Nicolas Forest, Equities, Fixed Income, Macro, Asset Allocation

Which way will Turkey turn?

With the upcoming 2023 Turkish presidential election, scheduled to take place on 14 May, we are sharing our views and sentiments on the possible outcomes and their consequences.
Fixed Income, Monthly Coffee Break

High Yield and Convertibles led Fixed Income Markets

In March, markets were driven by the strong performance of most asset classes, confirming a general trend year-to-date in which investors in most major asset classes have been rewarded with positive returns.
Asset Allocation, Fixed Income, Equities

Impact of Credit Suisse takeover

Portfolios managed by Candriam have no exposure to any Credit Suisse security, OTC exposure or stock-lending exposure.
Fixed Income, Monthly Coffee Break

A sense of relief

The beginning of the year provided some relief to global investors and allowed them to claw back some of the losses they suffered in the previous year.
Fixed Income, Fabrice Sauzeau

Inflation and insurers: solutions for a new regime

“Nowhere has it been considered a disastrous indirect tax is created by constantly rising inflation, nor what the results are.” (Welche vernichtende indirekte Steuer zudem in der fortschreitenden Papiergeldinflation liegt, wird übrigens an keiner Stelle berücksichtigt – Rudolf Havenstein, 1922
Fixed Income, Monthly Coffee Break

Signs of weakening inflation

Market exuberance continued in December and through the first days of January, as risky assets posted a strong performance, once again on the back of signs of weakening inflation and the hope that central banks would strike a less hawkish tone.
Fixed Income, Monthly Coffee Break

First true relief of the year

After a bruising first 10 months in 2022 that saw fixed income investors suffering near-record losses in most asset classes, November offered the first true relief of the year.
Diliana Deltcheva, Fixed Income, Emerging Markets

Our 2023 Emerging Markets Debt Market Outlook

The macro environment in 2023 is likely to remain challenging for emerging market debt, especially in the first half of the year.
Fixed Income, Monthly Coffee Break

Mixed picture

October offered a mixed picture following a bruising first three quarters. The Bloomberg Global Aggregate Index was down 0.55%, driven primarily by losses in US Treasuries. However, investors in some segments of the credit markets, especially EUR HY, USD HY and to a lesser extent EUR IG did see positive performance. Most Inflation-Linked Bonds markets with the exception of the US also rallied on persistently high inflation.
Emerging Markets, Fixed Income, Richard Briggs, Sovereign Sustainability

Lula’s Amazon stance appeals but will he deliver on the economy?

Luiz Inacio Lula da Silva narrowly won the second round of Brazil’s election, beating incumbent Jair Bolsonaro. Initial fears that Bolsonaro wouldn’t accept the result, particularly if it was tight, have receded. Bolsonaro said that he would follow the constitution and play by the rules, while his chief of staff, acknowledged the defeat.
Fixed Income, Nicolas Forest

Budget, monetary policy... The match is on!

It is rather unusual for a President of the French Republic to openly criticise European monetary policy. A guardian of monetary orthodoxy, the European Central Bank’s (ECB) mandate is well known by all: to keep inflation close to 2%, regardless of budgetary policy.
Fixed Income, Monthly Coffee Break

UK gilts in the eye of the storm

After registering losses in August, there was no reprieve for fixed income investors in September. All major asset classes posted negative returns, with the biggest falls coming in UK gilts.

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