December 2019

A supportive environment for investment grade credit

Alasdair Ross

Head of Investment Grade Credit, EMEA

Global Investment Grade Credit

The macro environment we face is one of low economic growth, low inflation, and loose monetary policy. That can be considered something of a sweet spot for investment grade credit. Corporate earnings are strong enough for the moderate leverage in the asset class, and investors’ search for high-quality yield supports bond prices.

December 2019

Building on 2019’s green bond resurgence

Simon Bond

Director of Responsible Investment

Green, Social and Sustainability Bonds

In almost whatever country you care to mention, climate change and social inequality are exploding into the public consciousness. Extinction Rebellion in the UK or the Gilets Jaune in Paris are just two of the more high-profile signs. Yet in the financial markets, too, green, social and sustainability bonds are growing in number and sophistication.

December 2019

Trade is not the only drag on growth

Adrian Hilton

Head of Global Rates and Currencies

Rates & Currencies

Entering 2019, our main expectations were for slower growth, easier monetary policy globally and continuing pressure on bond yields. At a high level, that is how the year played out. But the path to those outcomes has at times surprised us.

December 2019

Emerging market debt rally set to moderate

Tim Jagger

Head of Emerging Market Debt

Emerging Market Debt

Emerging market (EM) debt started 2019 at attractive valuations. This followed a nine-month slide as the US Federal Reserve moved to normalise monetary policy and raise interest rates, which naturally strengthened the dollar and increased EMs’ funding costs.

December 2019

Adapting to a low-yield, high-regulation environment

Eugene Dimitriou

Head of Insurance Solutions


Global insurance markets are a tale of two halves. The European and US markets are mature, with assets under management likely to remain flat for the foreseeable future. Asia is different: the market is boasting strong, sometimes double-digit growth.

December 2019

Quality is key in a slow economy

Roman Gaiser

Head of High Yield, EMEA


The outlook for Europe’s high yield market was getting darker as we moved into 2019. Third quarter earnings reports at the end of 2018 had mostly missed expectations, industrial activity was slowing and world markets had just suffered a sharp sell-off. Like most others, we were expecting returns for 2019 to be only moderately positive or even flat.

December 2019

Improving outlook for risk assets

Neil Robson

Head of Global Equities


The downturn in industrial output is bottoming out and corporate earnings – powered by rate cuts in the US and Europe – are about to accelerate.

December 2019

Identifying 2020’s successful challengers

Philip Dicken

Head of European Equities


Europe is still growing, if slower than expected. And so, looking ahead, there are exciting opportunities – for example in challenger brands or new business models disrupting the old guard.

December 2019

Demand grows for high-quality ESG analytics

Iain Richards

Head of Responsible Investment

Responsible investment

After the buzz comes the reality. As we look towards 2020, the key responsible investment (RI) themes are already evident. Technology, regulatory changes, enhanced analytics, active use of voting rights and thematic issues (eg, climate change or the sustainable development goals) are key elements of this and are set to be the focus in the RI field.

Important information

The research and analysis included on this website has been produced by Columbia Threadneedle Investments for its own investment management activities, may have been acted upon prior to publication and is made available here incidentally. Any opinions expressed are made as at the date of publication but are subject to change without notice and should not be seen as investment advice. Information obtained from external sources is believed to be reliable but its accuracy or completeness cannot be guaranteed.