Bonds

Bond fund investors should beware a crowded market where there is a growing risk of being caught out by a sharp sell-off in fixed income, analysts at RBS have warned.

The ever-faster treadmill of new issues in high yield gives plenty of scope for letting standards slide. Perhaps it is better to focus on established borrowers, argues Donald Phillips, manager of the Baillie Gifford's High Yield Bond fund.

Iain Stealey, co-manager with Nick Gartside of the JPM Strategic Bond fund, looks at what lies ahead for fixed income investors in an environment of changing monetary policy.

Ecclesiastical

Asian markets still face three key hurdles on their path to recovery, according to Schroders' head of Asian fixed income, Rajeev De Mello.

High yield has caught everyone by surprise this year in two respects.

Miserly performance is on the cards for giant bond funds - but Tesco bonds and index-linked gilts stand out, says Charles Stanley investment manager Kris Barclay.

CORPORATE BONDS

BlackRock is planning to hard-close the £1.2bn BSF European Credit Strategies fund, managed by Michael Phelps to new money.

Kames Capital's bond manager Phil Milburn has been finding investment opportunities in the new issue market this month after increasing the cash weighting in his High Yield Bond fund.