insights.

The new Chair wants to end forward guidance and shrink the central bank’s balance sheet – but signals continuity on monetary policy.

Higher energy prices have removed the risk of disinflation in Switzerland, enabling the central bank to focus on currency stabilisation.

One year on, we consider how the Liquid Global High Yield strategy overcame the liquidity and performance issues facing the HY asset class.

In a low-yield environment, Swiss corporate bonds offer a mix of relatively strong, stable income and protection in a mixed portfolio. 

Our H2 outlook for Asian and emerging-market USD credit highlights the strong tailwinds of higher global spending, solid fundamentals and domestic savings.

We favour sticking to medium-term convictions – and capitalising on short-term dislocations – as the energy shock continues to play out.  

With rising energy prices alleviating deflation concerns, the Swiss central bank turned its focus to the appreciating franc.

Why are fallen angels the pick of high yield? We unpack the technical mispricings, return drivers and portfolio uses for this attractive credit segment.