After years of synchronization, global monetary and fiscal policies are now moving in different directions, reflecting varying growth dynamics, inflation pressures and policy priorities.

It’s a common question among fixed income investors: why are some bonds called early? Insight Investment’s high yield team answers this and explores some of the opportunities it can create.

Ella Hoxha, Co-head of BNY Investments Newton’s Real Return team, sees a constructive yet fragile outlook for financial markets, with opportunities arising from potential monetary policy easing balanced by persistent risks, including inflation and valuation constraints.

Fading cash yields could see a powerful rotation into credit markets, while AI growth financing and the emerging markets could offer new opportunities. Peter Bentley gives his 6 potential catalysts for credit investments in 2026.