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The views expressed herein do not constitute research, investment advice or trade recommendations and do not necessarily represent the views of all AB portfolio-management teams. Views are subject to revision over time.
Analysis provided for illustrative purposes only and is subject to revision. Current analyses and forecasts do not guarantee future results.
GDP forecasts are year over year, except US, which is fourth quarter over fourth quarter.
As of March 31, 2024
Source: AllianceBernstein (AB)
As of March 31, 2024
Source: J.P. Morgan
Current analyses do not guarantee future results.
US and European indices are from Bloomberg; Asia credit is represented by the J.P. Morgan Asia Credit Index and EM corporates by the J.P. Morgan CEMBI Broad Diversified Index. Hedged into US dollars
As of March 31, 2024
Source: Bloomberg and J.P. Morgan
Historical and current analyses do not guarantee future results.
AB’s 2024 default-rate forecasts are calculated by dividing the total amount of expected default by the total amount of debt outstanding in the Asia high-yield universe.
As of March 31, 2024
Source: J.P. Morgan and AB
The views expressed herein do not constitute research, investment advice or trade recommendations and do not necessarily represent the views of all AB portfolio-management teams. Views are subject to revision over time.
Diwakar Vijayvergia is a Senior Vice President and Portfolio Manager on the Asia Fixed Income team, focusing on Asia Pacific and emerging-market fixed-income strategies. Prior to this he was a senior credit analyst on AB’s Credit Research team specializing in Southeast Asia and India corporate credit. Vijayvergia has worked as a credit analyst since 2006 and has covered multiple regions, sectors and capital structures. Before joining the firm in 2018, he was a senior vice president and head of credit strategy at Jefferies International, focusing on high yield and distressed credit in Asia. Prior to that, Vijayvergia was a senior desk analyst for eight years at RBS, covering global distressed opportunities, private financing and performing credits. He holds a BCom (honors) in accountancy from the University of Calcutta and an MBA in finance from the Indian Institute of Management. Location: Singapore
Thierry V. Taglione is a Managing Director and Head of Fixed Income Business Development in Asia ex-Japan. He is responsible for leading a team of investment strategists and for driving growth efforts for AB’s global fixed-income platform across Asia. Investment strategists work closely with AB’s portfolio management and sales teams and focus on articulating AB’s market views and portfolio strategies with clients, prospects and consultants globally. Prior to joining AB in 2022, Taglione was a managing director and head of client portfolio management for the Asia-Pacific at Manulife Investment Management in Hong Kong. Prior to this, he was a fixed-income portfolio specialist at Fidelity International in London, advising clients based in Europe and the Middle East, and was a product analyst at Franklin Templeton in San Mateo, California. Taglione began his career in 2005. He holds a BA in economics from the University of Paris XI; an MS in finance from Emlyon Business School, France; and an Executive MBA from Harvard Business School. Taglione is a Chartered Alternative Investment Analyst (CAIA) and holds a CFA Institute’s Certificate in ESG Investing. Location: Hong Kong
This is a marketing communication. This information is provided by AllianceBernstein (Luxembourg) S.à r.l. Société à responsabilité limitée, R.C.S. Luxembourg B 34 305, 2-4, rue Eugène Ruppert, L-2453 Luxembourg. Authorised in Luxembourg and regulated by the Commission de Surveillance du Secteur Financier (CSSF). It is provided for informational purposes only and does not constitute investment advice or an invitation to purchase any security or other investment. The views and opinions expressed are based on our internal forecasts and should not be relied upon as an indication of future market performance. The value of investments in any of the Funds can go down as well as up and investors may not get back the full amount invested. Past performance does not guarantee future results.
This information is directed at Professional Clients only and is not intended for public use.