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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 change over time.
Current and historical analyses do not guarantee future returns.
As of December 27, 2019, through January 4, 2023.
Source: Bloomberg. EUR IG: Bloomberg Euro Aggregate Corporate Index. EUR HY: Bloomberg Pan-European High Yield (Euro) Index. EUR BBB: Bloomberg EuroAgg Corporate Baa Index. EUR BB: Bloomberg Euro High Yield BB Rating Only Index. EUR B: Bloomberg Euro High Yield B Rating TR Index. EUR AT1: based on the EUR subset of the Bloomberg Global CoCo Tier 1 Index..
Current analysis does not guarantee future results.
Implied rates are based on forward index swaps
As of January 4, 2023
Source: Bloomberg
Past performance does not guarantee future results.
EUR IG represented by the Bloomberg Euro-Aggregate Corporate Index; US IG less three-month hedge cost represented by the Bloomberg US Corporate Index less the cost of a rolling three-month currency hedge
Through December 30, 2022
Source: Bloomberg 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 change over time.
John Taylor is Head of European Fixed Income and Director of Global Multi-Sector at AB. He is a senior member of the Global Fixed Income, UK and European Fixed Income, and Absolute Return portfolio-management teams. Prior to this, Taylor was responsible for the management of single-currency portfolios. He joined the firm in 1999 as a fixed-income trader and was named in Financial News’s 40 Under 40 Rising Stars in Asset Management in 2012. Taylor holds a BSc (Hons) in economics from the University of Kent. Location: London
Arnaud Mounier is the Global Co-Head of Fixed Income Business Development. He relocated from Hong Kong, where he was head of Fixed Income Business Development for APAC, to Europe in 2022. Prior to joining the firm in 2015, Mounier was regional chief investment officer for AXA insurance companies across Asia ex Japan from 2009 to 2015, and director for structured credit at Crédit Agricole CIB in Hong Kong from 2007 to 2009. He started his career in 1999 at AXA Investment Managers Paris, where he held a variety of roles, including quantitative fixed-income analyst, high-yield portfolio manager and senior credit structurer. Mounier holds an MS in applied mathematics from École Nationale Supérieure d'Informatique et de Mathématiques Appliquées de Grenoble.
Jamie Harding is a Vice President and Portfolio Manager for European Credit, focusing on high-yield and income strategies. He joined the firm in 2012 and assumed the role of Portfolio Manager in 2022. Harding has also worked within AB as an associate portfolio manager on the European High Yield and European Income portfolios and as a global fixed-income product specialist within business development. He holds a MSc in international economics, banking and finance from Cardiff University. Harding is a CFA charterholder. Location: London
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.