Asset allocation: bonds as stabilising securities

TARA has replaced TINA. This opens up new possibilities for the composition of asset allocation.

In recent years, the acronym TINA – "there is no alternative” – has dominated financial markets. In the meantime, the wind has changed. Now it’s time for TARA: “There are reasonable alternatives”. In investment portfolios, the cards are being reshuffled. In the latest video in our “Fixed Income Pulse Check” series, Daniel Rempfler, Head of Rates & Emerging Markets, explains which bonds are attractive in the current environment and why.

Daniel Rempfler, Head of Rates & Emerging Markets, explains which bonds are attractive in the current environment.

Multi asset: why diversification makes sense

Higher interest rates, geopolitical uncertainty and increasingly concentrated equity markets are changing the rules of the game for investors. In this environment in particular, a multi-asset approach is becoming increasingly relevant, as it can help capture opportunities wherever they arise while providing better risk management.

The photo shows the elegant cable-stayed bridge Ponte Estaiada in Sao Paulo, which rises strikingly above the Rio Pinheiros against the modern skyline.

Securities

Emerging markets investment grade: a resilient asset class for a shifting world

With emerging market economies on track to represent 60% of global GDP this year, a shift is on its way to reshape the world of fixed income. Emerging Markets Investment Grade (EM IG) credit has evolved into a resilient, high-quality asset class built on stronger fundamentals and greater diversification than ever before — a segment, investors can no longer afford to ignore.

A person sitting in front of a laptop displaying bond charts, with this image generated by AI.

Securities

Upper tier high-yield bonds: outperformance chance for buy-and-hold investors throughout the credit cycle

The high-yield bond indices in USD and EUR delivered in year-to-date 2025 a total return¹ of 7.8% and 4.8%, respectively. Considering current low spread levels but elevated macro risks, high-yield bonds in the upper-tier segment are considered an attractive option for buy-and-hold-investors throughout the credit cycle.