Insights

Focus on the credit market, with Philippe Berthelot, Head of Credit & Money market Since October 2022, we forecasted that 2023 would be an annus mirabilis for fixed income. And as a specialised fixed income asset manager, we were right! So far, 2023 is a marvelous year in general, and for credit in particular.

June was marked by outperformance of ‘high yield’ EM countries and in particular the ‘C’ rated segment compared to investment grade counterparts, as shown in the chart below.

Each month we share the conclusions from the monthly strategy investment committee which provides a summary of Ostrum’s views on the economy, strategy and markets. 

Each month we share the conclusions from the monthly strategy investment committee which provides a summary of Ostrum’s views on the economy, strategy and markets. 

Each month we share the conclusions from the monthly strategy investment committee which provides a summary of Ostrum’s views on the economy, strategy and markets. 

Ostrum AM’s one-stop shop adds value to institutional investors’ pre-trade, trading and post-trade activities

Credit Suisse suffered repeated scandals and governance failures which resulted in a weaker business profile. They struggled for years to get the right management team during which time we saw the franchise weaken.

As yields rebound, investors seek high credit quality and strong SRI credentials Money markets are in a good place, offering low volatility, near zero rate sensitivity and an interesting yield. Amid rising rates and high volatility, money market investments offer investors a sound temporary portfolio solution. Well-resourced teams and rigorous risk control are key to a good risk-return ratio. Active management of interest rates and credit selection increases returns and reduces volatility in net asset values. SRI should be a significant component of asset selection too. Even though money market assets are short-term, long-term SRI issues can impact returns.

Each month we share the conclusions from the monthly strategy investment committee which provides a summary of Ostrum’s views on the economy, strategy and markets. 

Each month we share the conclusions from the monthly strategy investment committee which provides a summary of Ostrum’s views on the economy, strategy and markets. 

Producer prices on final demand are falling again in December. The headline index stands at 6.2%, a far cry from the June high of 11.2% for producer prices on final demand.

Each month we share the conclusions from the monthly strategy investment committee which provides a summary of Ostrum’s views on the economy, strategy and markets.