Insights

Weekly Update
Global risk markets are in a soul-searching phase given..

Fixed Income

28 Sep 2020

So far so good – Fixed Income Monthly
Credit spreads have tightened relentlessly in July across the board..

Fixed Income

31 Jul 2020

Looking Beyond the Second Wave – Fixed Income Monthly
In June, mark-to-market portfolio spreads have continued to tighten..

Fixed Income

30 Jun 2020

Press Release – Cape Equity Fund 5 Stars
5 years, 5 stars, 5 globes

News from Cape

16 Jun 2020

Marching into Phase 2 – Fixed Income Monthly
The Portfolio currently runs a spread of >300bps above Libor with a credit duration slightly north of 4 years

Fixed Income

29 May 2020

Finding gravity – Fixed Income Monthly
Looking back at where valuations where in March, spreads found more gravity in this month as global markets embraced an exuberance of policy stimulus

Fixed Income

30 Apr 2020

Midway reflection – Fixed Income Monthly
We are still midway through the selloff of the decade triggered by the pandemic

Fixed Income

31 Mar 2020

Jump process in a not-so-random walk – Fixed Income Monthly
COVID-19 hijacked global markets in February, iTraxx Main widened 25bps and Xover by 90bps in the final week

Fixed Income

28 Feb 2020

“Range-bound” through Q1-2020 – Fixed Income Monthly
January ended with rising volatility, triggered by Covid-19, and risk-off sentiment has sent IG cash indices higher

Fixed Income

31 Jan 2020

All’s Well That Ends Well – Fixed Income Monthly
2019 did not change the face in December and ended the year as it started: Just friendly.

Fixed Income

31 Dec 2019

Watch out for “Cliff” – Fixed Income Monthly
November was a reasonably constructive month in terms of credit spreads in aggregate.

Fixed Income

30 Nov 2019

Rates rebounded, credit spreads softened – Weekly update
US data this week confirmed again the relatively solid consumer side and the softening industrial side of the economy.

Fixed Income

15 Nov 2019

Beware of de-tail – Fixed Income Monthly
We observe a strong decompression of IG vs. HY in the light of QE 2.0 and a higher number of “accidents” - but within the IG complex we would expect some spread compression

Fixed Income

1 Nov 2019

New low-duration fund
Cape Capital launches the Cape Select Bond Fund - offering investors a short-term alternative to holding cash in times of negative interest rates

News from Cape

7 Oct 2019

Credit matters – a practical roadmap to tranches
CDS tranches may be used to construct a comfort zone amid a universe of unknowns. Tranches allow investors to slice and dice the risks, to tailor a default risk profile that they find more bearable, while potentially generating an attractive carry

Fixed Income

1 Aug 2019