Fixed Income Monthly Report - September 2022
Preview of our monthly publication with single bond ideas
Every month, we publish the Fixed Income Monthly report. The report is a synthesis of the Ashenden’s team view on Fixed Income, pursuing a global approach through the full spectrum of the asset class and providing a good number of bond picks. We range from Investment Grade bonds to High Yields & Emerging Markets.
In the report we disclose our bond model portfolio (6 years track record) with more than 60 individual names. We include also new single bond ideas, switches, new entries and exits.
All this is corroborated by a bottom up analysis for each single position (new and old) and a review of the key market drivers.
This is one of the research piece our team produces internally. The intent of the report is to support wealth managers/asset managers in their decision and allocation process.
In the report, you will find an summary of the main events of the month and an analysis of the macro context.
In the latest version (September), we talked about:
Macro overview: the macro setup continues to deteriorate
The Powell’s speech at the Jackson Hole
Inflation and its effects on bond market
The European energy crisis
Credit overview: spreads will widen more
Model portfolio dynamics and changes
Next, we update our monthly portfolio, studying its performance and adding new bond ideas:
New ideas
Ideas reiterated and business case updates
Exits
The fixed income model portfolio includes Investment Grade and High Yield bonds.
If you would like to receive a copy of the publication and subscribe to the monthly releases, contact us in order to have more information!