2024 Public Fixed Income Outlook
Streaming Income - A Podcast from Barings
Introduction
This chapter explores the potential risks and opportunities in various credit markets as we head into 2024, emphasizing the importance of analyzing each issuer and credit individually for the best risk-reward opportunities.
From high yield and investment grade credit to emerging markets and securitized debt, what will 2024 hold for fixed income investors? Our panel of experts weighs in on the opportunities and risks ahead.
Moderator:
Matt Livas, Head of Client Portfolio Management for Public Fixed Income
Panelists:
Ricardo Adrogue, Head of Global Sovereign Debt & Currencies
Yulia Alekseeva, Portfolio Manager & Head of Securitized Research
Brian Pacheco, Portfolio Manager, Global High Yield
Episode Segments:
(05:16) – Where to next for rates?
(08:09) – Can the strength in high yield continue?
(12:03) – Cracks in the U.S. consumer’s balance sheet
(15:17) – Assessing corporate fundamentals today
(17:30) – The default outlook for 2024
(21:36) – Why today looks like the late-90’s for EMs
(25:23) – Opportunities in sovereign debt today
(28:00) – The most attractive value on offer in high yield
(30:14) – The opportunity in agency MBS
(33:28) – One move for institutional investors to consider
(36:54) – Lightning Round: U.S. recession / Election outcome / Rates / Top Performers
(40:59) – Bold Predictions for 2024
Book/Podcast Recommendations from our Panelists:
Titan: The Life of John D. Rockefeller, Sr. – Chernow
Hidden Potential: The Science of Achieving Greater Things – Grant
Dr. Gio Valiante on Peak Performance – The Meb Faber Show
Certain statements about Barings LLC made by the participants herein may be deemed to be “testimonials” or “endorsements” as those terms are defined in rule 206(4)-1 under the Investment Advisers Act of 1940, as amended. Participants were not compensated in connection with their participation in this program, although in certain cases they are investors in Barings LLC sponsored vehicles. These investments subject such participants to potential conflicts of interest in making the statements herein.
IMPORTANT INFORMATION
Any forecasts in this podcast are based upon Barings’ opinion of the market at the date of preparation and are subject to change without notice, dependent upon many factors. Any prediction, projection or forecast is not necessarily indicative of the future or likely performance. Investment involves risk. The value of any investments and any income generated may go down as well as up and is not guaranteed. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. Any examples set forth in this podcast are provided for illustrative purposes only and are not indicative of any future investment results or investments. The composition, size of, and risks associated with an investment may differ substantially from any examples set forth in this podcast. No representation is made that an investment will be profitable or will not incur losses.
Barings is the brand name for the worldwide asset management and associated businesses of Barings LLC and its global affiliates. Barings Securities LLC, Barings (U.K.) Limited, Barings Global Advisers Limited, Barings Australia Pty Ltd, Barings Japan Limited, Barings Real Estate Advisers Europe Finance LLP, BREAE AIFM LLP, Baring Asset Management Limited, Baring International Investment Limited, Baring Fund Managers Limited, Baring International Fund Managers (Ireland) Limited, Baring Asset Management (Asia) Limited, Baring SICE (Taiwan) Limited, Baring Asset Management Switzerland Sarl, and Baring Asset Management Korea Limited each are affiliated financial service companies owned by Barings LLC (each, individually, an “Affiliate”).
NO OFFER: The podcast is for informational purposes only and is not an offer or solicitation for the purchase or sale of any financial instrument or service in any jurisdiction. The material herein was prepared without any consideration of the investment objectives, financial situation or particular needs of anyone who may receive it. This podcast is not, and must not be treated as, investment advice, an investment recommendation, investment research, or a recommendation about the suitability or appropriateness of any security, commodity, investment, or particular investment strategy.
Unless otherwise mentioned, the views contained in this podcast are those of Barings and are subject to change without notice. Individual portfolio management teams may hold different views and may make different investment decisions for different clients. Parts of this podcast may be based on information received from sources we believe to be reliable. Although every effort is taken to ensure that the information contained in this podcast is accurate, Barings makes no representation or warranty, express or implied, regarding the accuracy, completeness or adequacy of the information
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