摘要

 

美國通膨居高不下,股債市短期震盪。根據聯準會 5 月利率決策,連續第六次將基準利率維持在 5.25%~5.5% 目標區間不變,通膨降溫前不著急降息。全球正處於什麼樣的金融環境?對於債券投資人而言,是好是壞?

為何看好債券?四個美國利率政策帶您看懂:

信用債前景相對取決於美國經濟情勢,而目前利率水準處於高檔,預期將持續吸引長投資金,債市中長期表現空間可期。


20240507_us_highyield_1

為何看好「美國非投資等級債」?四個數據帶您看懂:

  • 收益率:指數殖利率處於高檔,4 月一度突破年初迄今高點 8.5%
  • 違約率:未來 12 個月有機會下滑、維持低檔,顯示損失可控
  • 淨收益率:當「收益率減去違約損失」後,淨收益率維持高檔水準
  • 總報酬率:信用狀況預計持續改善,整體報酬可觀

  • 20240507_us_highyield_2

    殖利率高位,非投資級債基金布局要有!

    瀚亞投資-美國非投資等級債券基金(本基金主要投資於符合美國Rule 144A規定之私募性質債券且配息來源可能為本金)是在合理的風險下,追求報酬的最佳選擇。把握本基金四大投資理由:


    20240507_us_highyield_3
    資料來源:瀚亞投信,2024/01/31
    *平均信用評級計算方式:為根據本基金之各信評等級加權平均計算而得。加權平均採簡單加權平均方式,即將各信用評級由高至低給予不同分數後,依本基金於各信用評級之分布及比重加權後所得之分數得出相對應之最接近信用評級或是信用評級區間。*投資標的信用評級方式:個別投資標的信用評級為參考國際信用評等公司之意見。部分當地貨幣債券可能因沒有國際信用評級而被列為無信用評級(Non-Rating),惟不代表無當地信用評級,亦不完全表示該個別債券之真正信用狀況。基金或投組之平均信用評級可能與只計算債券部位之信用評級略有不同。基金之平均信用為該特定日期之狀況,可能隨時點及基金策略不同而有變化。

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