Broaden your mind, narrow your search

Points of view

For a two-week period in mid March 2020, funding markets experienced severe turbulence, with spillovers affecting many corners of the financial system. We provide an overview of the current situation in funding markets and discuss the main drivers behind the stress seen in March, the impact of policy interventions and vulnerabilities going forward.

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After the fall…

March’s sell-off was an episode most of us will want to forget but now the dust has begun to settle on a generation-defining event in financial markets, perhaps it’s time to take stock. Here, Paul Benson (PB), Head of Fixed Income Efficient Beta, and Dragan Skoko (DS), Head of Trading and Trade Analytics, both of BNY Mellon Investment Management, offer their take on the sell-off and how it impacted fixed income.

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Building the way to recovery

Infrastructure is being affected by the fall-out from global lockdowns and travel bans. But new challenges also bring opportunity, according to Mellon’s infrastructure manager, Jim Lydotes.

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Can Europe deliver a green revolution to spur recovery?

Ambitious new European Commission proposals for a €750bn EU coronavirus recovery package could hold some profound environmental, social and governance (ESG) implications for European companies, governments and fixed income investors, says Newton portfolio manager Scott Freedman.

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glass office

Fallen Angels: A window for forward-looking investors

Today’s economic environment has prompted credit rating agencies to downgrade a substantial amount of debt from companies. However, with the right fundamentals, some bonds may offer compelling valuation opportunities, according to Paul Benson, head of fixed income efficient beta at Mellon.

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Map showing Gypsum

First the Fall. Now the Recovery?

After a tumultuous start to the year, investors could be forgiven for wondering which way to turn in a Covid-19 world. Here, managers from BNY Mellon Investment Management offer their roadmap for a possible route out of the crisis.

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alarm clock

The time is now?

In the short term, markets have understandably focused on the immediate impact of efforts to contain covid-19 on economic growth. For Insight fund manager David Hooker, a more pressing question is whether recent events may sow the seeds that bring the current era of low inflation to a close.

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Mountains and Roads

Are we headed for a deflationary slump?

Severe recent economic disruption and the scale of the resulting government and central bank support programmes could have serious implications for future inflation levels and wider global investment strategies, says Newton portfolio manager Andy Warwick.

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blurred figures

Step by step

As major equity and fixed income markets reel from ongoing volatility and gloomy economic news, Newton portfolio manager Carl Shepherd, Insight head of fixed income Colm McDonagh and Mellon senior portfolio manager Josephine Shea consider how emerging markets are faring and what fixed income potential they might hold.

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abstract

Analysis of a bear market – what’s next?

While the worst may have passed, incoming economic data will likely continue to be subdued and the path to a sharp global growth recovery, while possible, remains unclear. BNY Mellon Investment Management’s Global Economic and Investment Analysis team analyses sector and asset class returns post-25% drops in the SandP 500.

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