Asset Owner

Market sentiment in fixed income is turning quickly. Within just a few weeks, investors and even central bankers have rotated one hundred eighty degrees. Rising inflation risk and an even greater lack of fiscal discipline are pushing yields higher. It is a nightmare scenario for politicians and the run-up to a major confrontation.

Prudent risk management is vital in high-yield-bond investing. As this week’s Morningstar fund comparison shows, even strategies operating in the same corner of the market can diverge sharply when stress hits.

India is drawing fresh interest from global investors as domestic demand, rapid digitalization and a deepening capital market give it resilience few major economies can match. Emerging market specialists say these qualities are becoming increasingly relevant for diversified portfolios.

This week’s roundup of people transfers and appointments.

Bankhaus Metzler is preparing for another year of strong performance in German equities. The nearly 20 percent rise in the DAX this year will likely not be matched in 2026, said equity strategist Uwe Hohmann, but an increase of 10 percent is within reach.

In private credit, institutional investors face their biggest risk not in the asset class itself, but in selecting the general partner. Interviews with private market insiders suggest the real danger is a lack of scrutiny of managers.

The traditional 60/40 portfolio is dead, long live the 60/40 portfolio.

Europe is consolidating its position as the global hub for inherited wealth, but the way that capital is managed is undergoing a radical modernization.

It’s December, and so the focus is shifting to 2026. As always, this comes with a wave of outlooks that are, unfortunately, often already partly outdated by the time the new year begins. Still, a dynamic is now unfolding that could lead to quite a bit of fireworks next year.

Global flexible bond strategies cover a wide range of different approaches. Investors should tread them with caution.