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Fixed Income 2025: Rates make return journey
After navigating an interest rate hiking cycle, fixed income investors face a completely different challenge in 2025.
The Investor's Guide to China podcast: Dealing with China's debt
As China rolls out new stimulus measures, the country’s approach to debt and public spending is back in the spotlight.
Q4 Asia Investment Outlook: Go with the east wind
A dip in US growth will have an impact on Asia, but the slowdown will also provide room for the region’s policymakers to cut interest rates.
Falling correlations suggest bonds can once again perform hedging role
The equity-bond correlation has turned negative. But it’s the context that matters.
India’s renewable bonds: Riding the green wave
India’s need to deliver more green power is likely to make its renewable energy sector a destination for global capital for years to come.
The Investor's Guide to China podcast: The renminbi effect
In this episode, we turn our attention to something that affects almost every investor in China: a weakening renminbi.
Chart Room: Picking up the Hong Kong premium
Hong Kong has quietly grown its bond market into a quality haven in Asia. A window has opened for investors who want a piece of the action.
Fixed income tales: Profits in the unexpected
A return to higher interest rates has created valuable opportunities for bond investors.
Three reasons to keep an eye on US bonds
Conditions look ripe for a period of outperformance in US credit markets.
US high yield may be less stretched than you think
Investor interest in income strategies has squeezed high yield credit spreads. But a metric we watch at Fidelity suggests they may not be overpriced yet.
Axing the ‘ex-Japan’: A new era for Japanese bonds
Tailwinds stretching from index reform to rate hikes are lifting Japan's bond market from the doldrums
Chart Room: Why Chinese investors love ultra-long bonds
Chinese investors are hoping to lock in higher yields as the market ramps up bets that the PBoC will cut interest rates to support the economic recovery.
US high yield may be less stretched than you think
US high yield may be less stretched than you think
Chart Room: overpriced, oversubscribed, but not over yet
Developing world governments borrowed as much in January and February of 2024 as they did in the same period of any of the last 20 years.
Get real: 2024 and the need for income
For the first time in years, the interest available on cash deposits is tempting. However, parking money in ultra-defensive options comes with its own risks.
The Investor's Guide to China podcast: China's bond market
Catherine Yeung and Marty Dropkin tackle a topic that often flies under the radar, but could in fact hold great potential for investors: China’s bond market.
How China keeps its debt in order
What is the fiscal firepower of the Chinese government? Depends on how much debt you think China really has. Our analysis is revealing.
Rich Pickings podcast: What the lessons of 2023 can teach investors for the year ahead
From artificial intelligence to US resilience, Richard Edgar discusses the big themes of 2023 with a panel of multi asset portfolio managers.
Chart Room: China’s booming panda bond market not so black and white
The panda bond market boomed in 2023. But the market still faces hurdles, including poor liquidity and competition from the offshore ‘dim sum’ bond market.
Axing the ‘ex-Japan’: a new era for Japanese bonds
Tailwinds from index reform to rate-hike expectations are lifting Japan's bond market from the doldrums, breathing new life into what was a dull backwater.
China’s corporate bond rally may still have room to run
China’s onshore corporate bonds have had a bull run this year, which we think has further to go.
Chart Room: Cash, the once and future king
After a flood of capital into cash investments this year a look at forward interest rates suggests cash as king could reign for a while.
Chart Room: A waiting game on rate transmission
The US continues to defy the gravity of rate hikes but a closer look at monetary policy transmission mechanisms suggests the effects are delayed, not denied.
Far from last orders
One in five pubs in Britain has closed, prompting a national outcry. But rising retail prices and falling energy costs may put the industry on a better footing
Chart Room: Watching for cracks amid pressure on China’s local government finances
Some of China’s local government financing vehicles are struggling to service their debts, but not all LGFVs are created equal.
Chart Room: The return of 60/40?
Chart Room: The return of 60/40?
Gabon shows how to make blue bonds work
Gabon shows how to make blue bonds work
Chart Room: Putting the high back into high yield
The era of ultra-low coupons in the European high yield bond market is coming to an end, but higher financing costs also means elevated risk for businesses
Fundamentals: Navigating China’s $10 trillion local government debt market
Fundamentals: Navigating China’s $10 trillion local government debt market
Selling like hot chilli crab: a look at Singapore’s local bond boom
While debt issuance has slowed around the world, the Singapore dollar bond market is in a pocket of growth driven by policy tailwinds and an influx of funds.
Chart Room: Credit markets focus again on fundamentals
Fidelity's model shows factors associated with credit fundamentals and valuations have contributed more than sentiment to investment returns since the pandemic
Chart Room: Is ‘higher for longer’ the new normal for funding costs?
Chart Room: Is ‘higher for longer’ the new normal for funding costs?
Leveraged loans hold steady through Fed pivots: a story in three charts
Leveraged loans hold steady through Fed pivots: a story in three charts
The Fed can’t paint over the cracks for long
Fidelity International's Chief Investment Officer for fixed income on what the SVB collapse means for the Fed and monetary policy.
ECB rates stance raises risks of financial instability for 2023
If the ECB matches its hawkish rhetoric with policy action, concerns about the bloc's periphery may return, adding to concerns for investors next year.
Bonds are back in town
For over a decade, one of the main cards in investors’ pack - solid and steadily yielding government bonds - has been off the table. That era has ended.
ECB hikes 50bp but window to hike further is closing
The ECB finally raises interest rates
Re-globalisation in the age of Asia's supply chain crunch
Even the best-laid plans across the global manufacturing industry haven’t kept pace with a swiftly evolving siege of pressures on supply chains.
The Investor's Guide to China podcast: Debt
With debt continuing to be a very strong focus for investors, it’s important to differentiate between good debt and bad debt.
Searching for safe havens amid a stagflation shock
High inflation and damaged growth will define the macro outlook for several quarters
Asia eyes a tantrum-free taper this time
A faster-than-expected tapering by the Federal Reserve remains a risk for Asian bond markets, but investors have been reassured by the latest policy signals.
Generating excess returns with value investing in bonds
Generating excess returns with value investing in bonds
Strong underpinnings to Asia’s investment grade bond market
Asia’s investment grade bond market looks attractive as we continue working through the Covid-19 outbreak, and global coordinated stimulus take effect.
Another hot summer for Italian assets
After several months of relative calm and a strong performance, Italian assets have again come under pressure amid political turmoil.
Equities, fixed income and multi asset: three different paths to income
Income-focused funds cover all asset classes and are a compromise between risk, yield, predictability and sustainability as well as capital preservation.
Don’t miss the Asia high-yield opportunity
Investor optimism in China is improving, and Asia's high yield market is looking more attractive than the equity market.
Multi Asset Outlook 2019: Complacency on inflation stalks markets
Fidelity International's multi asset outlook for 2019 examines the risk of a shock to markets from higher-than-expected inflation.
Optimising emerging market debt exposure
Emerging market debt can help diversify and improve yields in global bond portfolios. Total return solution offers the best risk-adjusted return potential.
Bond covenants: beware of slipping standards late in the cycle
As the market matures, governance standards often become looser - which, in fixed income, is most conspicuous in bond covenants.
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