3 Fixed Income Stocks In Focus As Bond Yields Reset Investor Demand

Bond markets have suddenly become the main event, with surging global yields pulling investor attention away from equities and toward income again. That shift is creating fresh pressure for many stocks, yet it is also shining a spotlight on asset managers and ETF providers that live and breathe fixed-income products. This article looks at three such stocks exposed to the latest rate shock and examines how the current turmoil may be creating opportunity or fresh risk.

The stocks below are just a sample of what this rate-driven shake up is throwing up. The full screen surfaced 42 more listed asset managers and ETF providers with fixed-income angles that are not covered here but carry equally interesting stories and trade offs. To go beyond the shortlist and really analyze and identify your own highest conviction fixed-income exposures, head straight into the Listed Asset Managers and ETF Providers Focused on Fixed-Income Products screener.

Brooks Macdonald Group (LSE:BRK)

Brooks Macdonald Group plugs directly into the fixed-income theme of this screen, running diversified portfolios for UK clients where bonds and money-market funds now offer far higher yields. This makes its growth-through-advice model especially interesting as investors reassess how they want to earn income.

Brooks Macdonald Group is a London based wealth and financial planning business that earns all of its £118 million in revenue from UK investment management and advice, and has a market value of about £241 million.

"The company has brought together six advice businesses in recent years, including Adroit Financial Planning in Manchester, Integrity Wealth in Nuneaton, Lucas Fettes in Norwich, CST Wealth in Wales, and Manchester-based LIFT, which was acquired for £45 million at the beginning of 2025."

For investors watching fixed-income driven wealth flows, one unresolved pressure on profitability could end up mattering far more than headline asset growth.

That pressure point is exactly what the full narrative for Brooks Macdonald Group unpacks, showing how Brooks Macdonald Group’s acquisition drive could be masking both earnings risk and underappreciated upside.

MarketAxess Holdings (MKTX)

MarketAxess Holdings gives you exposure to the bond rotation theme from a different angle, since its electronic platform connects large investors and dealers trading corporate and other fixed-income securities rather than running the funds themselves.

MarketAxess Holdings earns about US$870 million from end to end trading solutions for fixed-income markets worldwide. It provides electronic execution, data and post trade services across bonds, with a market value of roughly US$5.8b.

"Record revenue of US$233 million in Q1 2026, with 20% revenue growth outside U.S. credit, reflects MarketAxess Holdings using its non U.S. footprint to introduce higher value protocols and data services to newer client segments. This may broaden fee pools and affect both revenue and earnings."

One quiet shift in how clients route those fixed-income trades could reset both pricing power and profitability.

That shift in trading behavior is exactly what the full narrative for MarketAxess Holdings unpacks, showing how MarketAxess Holdings’ model could be accelerating or stalling as liquidity and pricing power subtly decouple.

Rathbones Group (LSE:RAT)

Rathbones Group gives you another way to play the fixed-income theme, with a wealth and asset management franchise that can sit between clients shifting into bond funds and higher yielding cash products, and the fees tied to those choices.

Rathbones Group runs wealth and asset management services for UK and Channel Islands clients, with £875 million of revenue from Wealth Management and £86 million from Asset Management, and a market value of about £1.6b.

"The completion of the Investec Wealth & Investment (IW&I) integration unlocks significant scale advantages and operational synergies, providing a tangible opportunity to improve operating margins. Management expects these efficiencies to result in a 28% margin by Q4 2026 (from 25.4%), with full synergy benefit (~£60m annualized) set to be realized by the end of 2025, and the remaining upside (target 30%) dependent on organic growth in AUM and advice revenues."

What happens to those ambitions if a single assumption about client appetite for fixed-income products and advice-linked fees shifts again?

If that assumption proves wrong, the full narrative for Rathbones Group shows where margins could still accelerate and which fee streams risk being quietly diluted.

Curious About Alternative Market Angles

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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