Bond managers have been slashing exposure to contingent convertible debt - a key source of alpha for fixed income funds in recent months - as yields begin to fall and an avalanche of issuance appears on the horizon.
Banks have been rushing to issue contingent convertible debt (CoCos) in an effort to meet incoming Basel III capital requirements, but managers are now becoming more cautious on the bonds. John Pattullo...
Proceeds being returned to investors
Uncertainty set to remain
A look at the companies disrupting sectors
Perhaps surprisingly, Europe was the second best-performing regional stockmarket in the world in the first half of 2019.