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Aon Retirement and Investment Blog

AA View: What is behind rising US Bond Yields?

US bond yields have risen significantly this year, and we ask why yields have been rising. On a bond market fundamentals basis, rising real interest rates appear the strongest driver. Inflation expectations remain contained. We also look at possible demand weakness and higher supply as causes of recent US treasury weakness. Rising currency hedging costs may deter some foreign demand, but this is not reflected in the data as of yet, and probably marginal in its impact. 

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Onshore Chinese Bonds Enter the Global Bond Universe

China's large onshore bond market is becoming increasingly open and transparent and its entry into bond indices will have a big impact on index composition and, consequently, bond investing. Historically, investors were largely only able to purchase US dollar-denominated bonds issued by the Chinese government and offshore bonds issued in renminbi ('dim sum' bonds). Now, however, the much larger domestic Chinese bond market has become accessible and is set to shake up bond investing.

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Liquidity Conditions and Trading Costs around Christmas and the New Year

This post examines historical trading volumes in December for equities and investment grade credit and offers advice to investors considering implementing changes to their portfolio allocations before the end of the year.

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Fallen Angels - Capitalizing Upon an Attractive Segment of the High Yield Market

High yield fallen angels have significantly outperformed original issue high yield (in both absolute and risk-adjusted terms) with fairly high consistency, across regions and currencies. We attribute the superior performance of fallen angels to both structural factors (such as forced selling) and human behavior—factors which we believe are still valid today. High yield investors should consider a strategic overweight to this segment of the high yield universe and investment grade investors should avoid constraints that lead to forced selling (to the extent possible).

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Capital Preservation in DC Plans Deserves a Second Look

Though it may be easy to overlook an asset class generally characterized by safety and stability, it is imperative for plan sponsors to take a second look at the capital preservation options in their programs and evaluate the fiduciary implications associated with the offerings.

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Investigating Insurance Linked Securities

What are Insurance Linked Securities? How is the ILS market evolving and why should an investor be interested? What are the risks? Is now the right time to invest? How can the investor best access the asset class? This post addresses these questions. 

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A Market Environment Discussion (Video)

Aon Hewitt sat down with Investment Strategist, Russ Koesterich, to discuss Central Bank Activity, interest rates, the market environment, and much more.

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Improving Fixed Income Portfolios Benchmarked Against the Barclays U.S. Aggregate

Aon Hewitt recently completed its most comprehensive research in several years on fixed income portfolio construction, focusing on ways to improve portfolios typically benchmarked against the Barclays U.S. Aggregate Index (as opposed to those customized to hedge liabilities).   

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Pourquoi autant de négativité?

Ce texte tente d’expliquer pourquoi les taux obligataires mondiaux ont soudainement augmentés.

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Why all the negativity?

This post addresses why global bond yields have suddenly moved higher.

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