Quoniam Asset Management’s Post

With rate cuts on the horizon, our money market managers share their views on the economy, inflation, the likely size and speed of rate cuts and the implications for portfolio construction. https://grp.hsbc/6042Z7cDi #AssetManagement #Economy #MoneyMarket #ThoughtLeadership [#Accessibility ID: Left: white text, black background “What falling interest rates mean for liquidity management”, followed by a red “Find out more” button. Right: image of a red and purple silky cloth. Disclaimer: For Professional Clients only. ]

Global disinflation, better-than-expected US economic data, and expectations for 2024 rate cuts led to a credit rally in 4Q2023. Does this mean a credit recession is out of the question? Global Head of Fixed Income Jim Cielinski cautions that it's too early to say for certain. Check out our latest "Credit Risk Monitor" to get the full scoop on global credit health 👉 https://bit.ly/3OOkIlQ #JHI #JanusHenderson #BrighterFutureTogether #US #JHInsights #Bonds #FixedIncome #InterestRates #MonetaryPolicy #Credit #SovereignDebt #CorporateCredit #Recession #InvestingInvolvesRisk

We continue to like a strategy where the overall risk of the portfolio is managed closer to neutral, while taking credit risk in those parts of the market where there is still value (Banks, Euro IG). Strong issuer selection and buying quality carry offers the best value. We remain comfortable with investment grade in general, and more cautious on high yield, especially the lower-rated part.

▪ Are you wondering what is the Role of IFAs with Bonds:  ➡ Recommendation and Analysis: IFAs analyze clients' financial situations, risk tolerance, and investment goals to recommend suitable investment options, including bonds. ➡ Portfolio Diversification: IFAs often emphasize the importance of diversifying investment portfolios, and bonds are a common asset class for achieving this diversification. ➡ Risk Management: Bonds are generally considered less risky than stocks, and IFAs may recommend them to clients seeking a more conservative investment approach or looking for stable income. ▪ Key Components: ➡ Client Financial Profile: IFAs consider clients' financial profiles, including income, expenses, risk tolerance, and investment time horizon. ➡ Risk Assessment: Evaluating the risk associated with different types of bonds, considering factors such as credit risk, interest rate risk, and liquidity. ➡ Yield Analysis: Assessing the yield and potential return of bonds to match clients' income needs and investment objectives. #bonds #financialadvisor #financialfreedom Harbir Nat Yusuf Shaikh Abhishek Ghamande Atul Dikshit

Global disinflation, better-than-expected US economic data, and expectations for 2024 rate cuts led to a credit rally in 4Q2023. Does this mean a credit recession is out of the question? Global Head of Fixed Income Jim Cielinski cautions that it's too early to say for certain. Check out our latest "Credit Risk Monitor" to get the full scoop on global credit health 👉 https://bit.ly/3OOkIlQ #JHI #JanusHenderson #BrighterFutureTogether #US #JHInsights #JHInsti #Bonds #FixedIncome #InterestRates #MonetaryPolicy #Credit #SovereignDebt #CorporateCredit #Recession #InvestingInvolvesRisk

Global disinflation, better-than-expected US economic data, and expectations for 2024 rate cuts led to a credit rally in 4Q2023. Does this mean a credit recession is out of the question? Global Head of Fixed Income Jim Cielinski cautions that it's too early to say for certain. Check out our latest "Credit Risk Monitor" to get the full scoop on global credit health 👉 https://bit.ly/3OOkIlQ #JHI #JanusHenderson #BrighterFutureTogether #US #JHInsights #Bonds #FixedIncome #InterestRates #MonetaryPolicy #Credit #SovereignDebt #CorporateCredit #Recession #InvestingInvolvesRisk

🎉 Party like it’s the 1990s🎉 Technicals have improved considerably now that we seem to have reached the end of the hiking cycle. High expectations are priced in. The market is partying like it’s the 1990s. This also means there is room for disappointment, and in such case spreads could move wider. However, we will need a more severe slowdown or recession to move markets more materially. We think the odds on this are still considerable, given the slow transmission of the tightening cycle. We argue that it remains wise to stay cautious in this environment. Download our Q1 2024 Credit Quarterly Outlook for more details: https://lnkd.in/gVQNijyY Reinout Schapers Sander Bus David Hawa Erik Keller, CAIA, FRM Maurice Meijers Evert Giesen Jan Willem de Moor Rico Jumelet, CFA, CAIA #CreditInvesting #Duration #InvestmentGrade #HighYield

🚨 NEW DISCUSSION PAPER 🚨 Our Issam Samiri writes on 'Endogenous Defaults, Value-at-Risk and the Business Cycle' 🔁 'This paper shows through a simple macroeconomic model that productivity shocks affecting the real economy can generate fluctuations in corporate default rates that are in line with empirical evidence.' Read the full paper on our website 🔓👇 https://hubs.la/Q02thhp50

Last year, the private credit market reached US$1.7 billion, but what can we expect in the year ahead amidst evolving macroeconomic conditions? Join us for Debtwire’s Private Credit Forum in New York, where Dechert partner John Timperio will moderate the opening panel discussion on the market outlook for the year ahead, looking at factors such as expected rate cuts, trends between borrowing from direct lenders vs banks, market consolidation and more. https://lnkd.in/eyu62uCv