In a late-cycle, rising interest rate environment, duration can be overlooked. But looking at the bond market today, might it be worth giving duration a second chance?
A slowdown is coming sooner rather than later. Investor should remain cautiously optimistic to environment growth, with a bias on quality and eye on duration.
In this paper, we assess the potential risks associated with such a strategy by stressing capital requirements using spread-implied ratings.
Over the past few years, real estate investors have constantly discussed the “death of retail” - put another way, as a greater share of consumer activity occurs online, the need for large, big-box retail properties has dwindled.
This is a trend that has already begun this year, with major EM central banks already enacting rate cuts, or at least postponing planned rate hikes.