22nd July 2020

“Following the Fed’s announcements of direct corporate bond and ETF purchases (high yield and investment grade), credit spreads have contracted sharply – over 500bps in the high yield space. With spreads now closer to their long-term average, and significant economic uncertainty remaining, we would posit that the scope for spread tightening is more challenging despite […] more

15th April 2020

For the full 15 April 2020 update please click the link below. CLICK HERE TO READ THE FULL ARTICLE For more information please contact Rubrics Asset Management. info@rubricsam.com. more

19th March 2020

For the full 18 March 2020 update please click the link below. Click here to read the full article For more information please contact Rubrics Asset Management. info@rubricsam.com. more

19th March 2020

For the full 16 March 2020 update please click the link below. Click here to read the full article For more information please contact Rubrics Asset Management. info@rubricsam.com. more

14th March 2020

Leaking pipe

The crisis in which we currently find ourselves is very different to that of 2008. Both the structure of the credit markets, or the plumbing as we like to call it, and the incentives of corporate CEOs issuing debt into those credit markets are very different, and not in a good way. For the last […] more

28th February 2020

With fears over the Corona Virus having firmly taken hold, click below for Rubrics’ take on the developing situation as well as our view on the longer term fallout from a market, economic and political standpoint. In addition, included is a positioning summary for each of our strategies with a specific focus on our Global Credit […] more

31st December 2019

In 2019, central banks once again managed to moderate recession concerns, allowing risk assets to make new highs as balance sheets resumed expansion. Moving into 2020, will questions about the effectiveness of monetary stimulus over the longer term come back to haunt markets as they did in 2018? Click here to read the full article […] more

8th October 2019

Are today’s political institutions fit for purpose? Such has been the level of recent upheaval this might not be as churlish a question as it seems. In order to address it, we must look at the root causes of the current political maelstrom. Click here to read the full article For more information please contact Rubrics Asset […] more

23rd September 2019

Casting our minds back to 2016, optimism was rife at the prospect of fiscal stimulus and the knock-on impact on growth and inflation. Bond yields soared. Today that optimism has all but evaporated. Instead, the bond market is reacting to one thing; Fear. Fear of further trade war escalation, Fear of market illiquidity, Fear that […] more

14th June 2019

After a tumultuous Q 4 18 2019 began with great optimism at the prospect of yet another central bank reflation. Indeed the market grew palpably giddy when January’s aggregate social financing numbers were released in China. If this was a sign of things to come then the global economy was back in business. Such optimism, we felt (and in […] more

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