Extended-lister
Showing 121 - 130 of 143 entries
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MSCI Blog
Are You Ready For Uniform MBS? (Part 1)Fannie & Freddie will conclude Single Security Initiative (SSI) June 3, 2019, creating a single to-be-announced (TBA) market & a new TBA security: the uniform mortgage-backed security (UMBS)
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MSCI Blog
Have High-Yield ETFs Created Liquidity Risk?In the fourth quarter of 2018, redemptions of high-yield ETFs soared to approximately 25% of these funds’ assets under management (AUM), according to data provider IHS Markit.
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MSCI Blog
Santander’s Coco extension: The New Market Norm?Banco Santander announced it would extend — i.e., not call — its additional-tier-one contingent-convertible (coco) bond. Was the market caught off guard?
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MSCI Blog
CDS Hedging: Exploring all the OptionsThe credit-default-swap (CDS) market previously offered a cost-effective means to make short-term hedges or place bets on an individual issuer’s credit.
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MSCI Blog
From credit crunch to liquidity crunch: managing liquidityVolatility of credit spreads in both emerging- and developed-market debt increased significantly in 2018. Large rises in credit spread levels were followed by increased bid-ask spreads, making it expensive to reduce exposure within a short time frame.
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MSCI Blog
Investing in Convertible Bonds When Rates RiseIs my convertible bond more like a stock or a bond? How can I identify convertible bonds offering protection from rising rates?
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MSCI Blog
Managing MBS risk in a rising rate environment (Part 2)Will U.S. homeowners slow down the heady prepayment rate on their mortgages — even if interest rates remain unchanged, thus potentially harming returns of mortgage-backed securities (MBS) and extending the duration of these securities?
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MSCI Blog
Credit binge hangovers have historically been a challengeCredit spreads and debt issuance are at historical levels, as credit markets show signs of overheating. History has shown that following an overheated credit market, long-term credit returns have been generally weaker, in absolute terms and relative to U.S. Treasurys; particularly for high yield (HY). Given the intensity of past credit binge hangovers, long-term investors may want to review their current asset allocation strategies.
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MSCI Blog
Apples vs. Oranges? Core vs. Opportunistic Real Estate FundsReal estate investors sometimes treat core and opportunistic funds as if they were different asset classes. They are measured against different benchmarks and comparisons are limited by a lack of consistent data. But a comparison of the two shows that both core and opportunistic funds have similar return profiles — it’s the magnitude of their returns that has varied over time.
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MSCI Blog
Are Argentina and Turkey just the first dominoes to fall?Argentina and Turkey have experienced sharp corrections in their currency and debt markets over the past couple of months, leading investors to worry about possible contagion to other emerging-market (EM) countries. Are other emerging markets heading in the same direction?