The performance of the US dollar significantly diverged from relative rate spreads.
Our view over the past few quarters has been that EURUSD should be rangebound, as the cyclical outperformance of the US economy is offset by the eurozone���s relatively better balance of payments position.
Market sentiment towards the Chinese currency has shifted significantly
How hedging against rising rates with credit���rather than sovereign bonds���can offer a better trade-off between liability-relative risk and return.
The rise in support for populist parties in the European elections has done nothing for the popularity of European risk assets. Should investors ditch Europe, or does this represent a buying opportunity?
Weakness in the global economy has been almost entirely driven by the manufacturing sector. With recent data showing tentative signs of a recovery, what could be the implications for bond markets?
The performance of the US dollar significantly diverged from relative rate spreads
Global - Currency Thoughts - PDF
For emerging market fixed income investors, an issuing country's high inflation can lead to higher yields, compared to developed markets.