September was once again a month where we saw significant volatility on interest rates, as the higher for longer theme remains very much present. Inflation has been easing, but it remains too high for central banks and macroeconomic data remains resilient. Higher oil prices also contributed to higher interest rates. Spreads on our securities widened slightly during the month.
September was once again a month where we saw significant volatility on interest rates, as the higher for longer theme remains very much present. Inflation has been easing, but it remains too high for central banks and macroeconomic data remains resilient. Higher oil prices also contributed to higher interest rates. Spreads on our securities widened slightly during the month.
The month of August was softer for our securities. Inflation continues going down but remains too high for the central banks. Spreads on the subordinated debt of financials widened during the month and remain at very wide levels.
The month of August was softer for our securities. Inflation continues going down but remains too high for the central banks. Spreads on the subordinated debt of financials widened during the month and remain at very wide levels.
The month of August was softer for our securities. Inflation continues going down but remains too high for the central banks. Spreads on the subordinated debt of financials widened during the month and remain at very wide levels.
Sentiment was somewhat weaker in August, with spreads on EUR investment grade (IG) corporates 8 bps wider on the month to 155 bps. Rates volatility weighed on IG spreads, as the 10-year German bund yield peaked at 2.71% in mid-August and then ended the month lower at 2.47%. Inflation and central banks remain in focus – as inflation continues to slow but remains too high for central banks.
| serie | AsOFDateFK | FundName | ISIN | MTD | MTD | YTD | YTD | SI | SI |
|---|---|---|---|---|---|---|---|---|---|
| 1 | 20,251,016 | GAM Sustainable Climate Bond fund | IE000BSJBO14 | 0.72 | 0.0072 | 0.0375 | 3.75 | 0.0220 | 2.20 |
| 2 | 20,251,016 | GAM Star Crdt Ops EUR Inv | IE00B50JD354 | 0.38 | 0.0038 | 0.0408 | 4.08 | 0.7335 | 73.35 |
| 3 | 20,251,016 | GAM Star Crdt Ops GBP Inv | IE00B510J173 | 0.34 | 0.0034 | 0.0546 | 5.46 | 1.0496 | 104.96 |
| 4 | 20,251,016 | GAM Star Crdt Ops USD Inv | IE00B5769310 | 0.41 | 0.0041 | 0.0671 | 6.71 | 0.9763 | 97.63 |
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