Fixed Income

  1. 06 Jan, 2014

    Challenges as the fixed income ride comes to an end

    Fixed income investors have benefitted from increased returns as a result of falling interest rates over the past 30 years. This has meant that most bond investors have had their income...

  2. 07 Nov, 2013

    Impala Frequently-Asked Question: Why Not Use Bond Futures Instead of Swaps?

    A question that frequently gets asked is ‘why not just use Gilt futures to hedge?’ Investec’s Magnus Burbanks addresses this by outlining some problems that arise using futures (particularly 10yr Gilt futures) to hedge interest rate risk in the context of Impala. Magnus is responsible for the Interest Rates desk at Investec and works in collaboration with the bank’s client-facing operations when executing hedges in the interbank markets.

  3. 28 Aug, 2013

    Why issuers don’t want to issue inflation-linked bonds

    The goal of inflation-linked bonds is to ensure that purchasing power is maintained and that a real return, fixed at the beginning of the term, is paid (typically on an annual basis) to the holder of the bonds.

  4. 09 Aug, 2013

    A Man of Inflated Expectations: all eyes on tomorrow's BoE Inflation Report

    It’s a tricky one to play for Carney as the recent UK data has been stronger, indicating that the economy is recovering...

  5. 02 Aug, 2013

    Are Bonds still relevant in a balanced portfolio?

    Simple investment rules sometimes provide for the best lessons. Harris Gorre reflects on the past five years and the merits of holding appropriate Bonds in balanced portfolios.