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Stock impact report

PineBridge Eyes Long Asia Credits as Pendulum Swings on Fed Cuts [BNN Bloomberg (Canada)]

Apollo Global Management, Inc. (New) (APO) 
Last apollo global management, inc. (new) earnings: 5/1 07:00 am Check Earnings Report
US:NYSE Investor Relations: apollo.com/shareholders/overview
Company Research Source: BNN Bloomberg
long-dated dollar bonds from the region, betting there may be an investment opportunity in the beaten-down debt. For Omar Slim, co-head of Asia fixed income at PineBridge, markets have turned too pessimistic about the chances for the Fed to lower interest rates this year, with some like Apollo Global Management's Chief Economist Torsten Slok forecasting no reductions in 2024. The Fed may still cut two times this year, according to Slim, whose Asia Pacific investment-grade bond fund has beaten 96% of peers in the past five years. Such a scenario could bring opportunities for investors, in Asia's oversold longer-duration bonds in Slim's view. Longer duration Asian high-grade bonds of more than 10-years have lost 5.6% year to date on a total-return basis as investors have adjusted to the Fed keeping rates higher for longer. But that's still better than a 6.8% slump for US peers and 8.5% drop for comparable US Treasuries, Bloomberg indexes show. “If the market continues to sell off, Show less Read more
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