Fixed Income | Voya Investment Management

Fixed Income

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US leveraged credit in 2023: Historically attractive yields should outweigh growing concerns

January 26, 2023

Barring a deep, prolonged recession, we expect leveraged borrowers to successfully navigate the late cycle backdrop given relatively healthy fundamentals.

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Fixed income themes for 1H23: The economy's moment of truth

December 20, 2022

As we enter the new year, attention is shifting from inflation to the economy and the effects of tighter Federal Reserve policy.

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The Fed pivoting to a pause, not to cuts

November 21, 2022

Eyes remain firmly on the Federal Reserve, which has engineered a landscape of materially higher real and nominal rates.

Q&A: Liquidity in Commercial Mortgage Loans

August 30, 2022

Commercial mortgage loans (CMLs) have a track record of strong, differentiated returns that have made them an effective way to diversify institutional fixed income portfolios. Given the historical frictions in CML transactions, many investors assume the asset class is illiquid. However, technologies and platforms to connect buyers and sellers have improved significantly since the 2008 financial crisis. The resulting liquidity has made it easier for institutional investors to access CMLs in a broader range of investment vehicles, including pooled accounts such as collective investment trusts.

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CLO and Loan Market Review & Outlook: 2Q22

August 8, 2022

In Q2 2022, US CLO tranches were not immune from the macro volatility and broader market sell-off. Given the high correlation to loan market dynamics, especially at the lower Mezz levels, CLO tranches delivered negative returns* across the board at at -1.42%, - 3.05%, -3.97%, -5.85%, -6.94%, -8.6% for AAA, AA, A, BBB, BB and B rating cohorts, respectively.

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