Daily Fixed-Income Insights
Could Investment Grade Be as Risky as High Yield?
Fixed Income 2021: Climate, Credit & Inflation
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Our Latest Research
Why Is Climate-Transition Risk High in High Yield?May 6, 2021
Investors increasingly focus on building greener portfolios. Some might expect bonds to be less exposed to climate-transition risk compared to equities, due to the seniority of bonds in the capital structure. But does that logic hold at the portfolio level?
MSCI Liquidity Risk MonitorMay 4, 2021
The MSCI Liquidity Risk Monitor is a quarterly publication that shows the development of several liquidity risk indicators over the previous 12 months.
US House Price Projections from the Impact of the CoronavirusApr 30, 2021
Could coronavirus-induced economic shocks hurt U.S. house prices as much as the 2008 global financial crisis did? This article identifies four drivers that could produce much milder house-price depreciation this time.
MSCI Foreign Exchange Implied Volatility Factor ModelApr 27, 2021
MSCI Agency Fixed Rate MBS Prepayment Model Version 2.0Apr 20, 2021
Could Investment Grade Be as Risky as High Yield?Apr 16, 2021
Do high-yield and investment-grade bonds carry the same level of risk? For investors using common measures like value-at-risk models, IG- and HY-bond portfolios’ risk levels appear to have converged. But traditional models may miss important aspects of HY risk.
Long-Horizon Risk: The Past 50 YearsApr 13, 2021
For long-horizon investors that aim to ride out volatility, short-term risk measures may be insufficient. We used multiperiod stress testing to evaluate one- and five-year returns of hypothetical multi-asset-class portfolios using 50 years of history.
Factors in Focus: Value Springs into ActionApr 6, 2021
Value has historically outperformed in economic recoveries. With the reopening of the global economy we examined value’s performance against other factors, and exposures from our adaptive multi-factor model at the end of Q1.