Latest insights

Yields remain elevated across both U.S. and European markets, offering attractive carry for investors in both Investment Grade (IG) and High Yield (HY).

Merger Arbitrage is a sophisticated investment strategy that capitalizes on the price difference between a target company's stock price in the market and the acquisition price during mergers and acquisitions.

Despite rising geopolitical tensions, the global economy showed surprising resilience in early 2025, and inflation continued to normalise.

You want to talk about euro swap spreads versus US swap spreads? We watch that, too. But to be honest, that graph is one of the last things we look at when managing euro fixed income aggregate portfolios. So if you want to see it, you’ll have to read all the rest of this page first.

In what can only be described as an event-packed May, financial markets navigated a minefield of global macro developments: escalating US–China trade tensions, a surge in Japanese government bond yields, and renewed concern about fiscal sustainability across developed markets.

We have previously examined the equity/bond allocation and asked, ‘Is 40/30/30 the new 60/40?’ Well, yes, we think it is. Our work shows a long-term correlation between equities and fixed income that is frighteningly close to 1.0. This increased correlation fundamentally alters the effectiveness of traditional portfolio construction.

Although navigating by the stars can seem brave and adventurous, we would not recommend it on financial markets. Better be equipped with a solid compass !

European yields have returned to more historical norms following the years in the low-yield wilderness, while the German fiscal situation is reaching an inflection point.