The Convertible Trifecta, Revisited
We see continued upside opportunities in convertible securities but there may be greater disparity in returns, supporting the need for selectivity and active management.
Read PostWe see continued upside opportunities in convertible securities but there may be greater disparity in returns, supporting the need for selectivity and active management.
Read PostCo-CIO Eli Pars examines default trends in the convertible bond market and discusses some differences between convertibles and high yield bonds.
Read PostConvertible default rates have remained low and stable over recent years. Co-CIO Eli Pars considers the direction of defaults going forward, including the prospects for the growth-oriented tech and health care sectors the convertible team favors.
Read PostCredit spreads have widened dramatically, equities have declined significantly, and convertible valuations have cheapened. A reversal in one of these factors could provide a tailwind to convertibles; if all three reverse, convertibles may be poised for a potentially powerful “trifecta.”
Read PostAmid market turmoil, contingent convertible bonds (CoCos) have become the subject of negative press. Co-CIO Eli Pars discusses our standing concerns with what he considers “the anti-convertible bond.”
Read PostCo-Portfolio Managers David O’Donohue and Jason Hill explain how market volatility can create profitable opportunities for a convertible arbitrage strategy.
Read PostSenior Co-PM Nick Niziolek discusses how the Calamos team uses convertibles to participate in China’s growth potential.
Read PostIn his latest blog post, John P. Calamos, Sr. discusses convertibles as an alternative to traditional fixed income investments.
Read PostAfraid to be in the markets, but afraid to be out? John P. Calamos, Sr. discusses how to invest in this volatile environment and the potential of lower-volatility equity approaches.
Read PostCo-Portfolio Manager Eli Pars, CFA, discusses issuance trends in the convertible marketplace. He also speaks to the potential advantages of investing in convertibles with a range of credit qualities.
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