新闻中心/瑞联卓见

当传统资产越来越受相同的全球驱动因素影响时，资产配置的多元化可能取决于能否找到真正不同的收益来源。

新兴市场债务并非单一投资品种；它涵盖以主要货币（如美元）发行的政府债券和公司债券，以及本币债券、货币和前沿市场。这些领域对全球经济增长、通胀、市场波动以及地缘政治局势的变化所作出的反应各不相同。

2026年，五大超大规模科技公司（微软、亚马逊、Alphabet、Meta和甲骨文）的资本支出将达到约8200亿美元，而其经营现金流仅为7500亿美元。这意味着它们的投资额超过了可用的现金流，这一资金缺口必须通过举债来填补。

This year, fixed income markets have exhibited elevated levels of interest rate volatility, whereas credit spread volatility has been more contained.

Convertible bonds allow investors to capture AI-driven growth while diversifying the risk associated with hyperscalers in equity indices.

Nicolas Faller, Co-CEO of UBP Asset Management, which oversees EUR 34 billion in AUM, expresses confidence in a swift resolution to the conflict with Iran.

Solid – but not overheated – growth could create fertile ground for carry-focused fixed income strategies in 2026.

The fund will invest in fixed-income strategies; a second fund to be launched next year will invest in a hedge fund of funds.

US labour market data indicates that the Federal Reserve is likely to maintain its monetary easing policy, a move that could have implications for bond markets.

The euro investment-grade (IG) credit market has historically delivered an average annual return of +2.8% since 2005. However, the past five years have proven particularly challenging, with returns stagnating at around 0.0%. This period was marked by a sharp 15% drawdown in 2022, driven by the energy crisis and surging inflation.