A new trade announcement from the Trump administration has comprehensively overshadowed the Federal Reserve’s first rate cut since the financial crisis. What impact will the most recent round of tariffs have on the economy and on markets?
The strength of the US economy is pushing rates higher, and the US dollar is following suit. But can this cyclical support for the currency continue, or will the structural headwinds prevail?
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?
China’s monetary and fiscal efforts to manoeuvre a soft landing and cope with pressure from increased trade tensions are beginning to pay off. What are the broader implications?
With macroeconomic fears dominating the airwaves, the Federal Reserve (the Fed) may need to prepare to take a less predictable course.
The year started with global macro data and quantitative valuations moving in opposite directions. Can this trend continue, or will one side give way?
Despite the recent resurgence of growth worries, we maintain the view we expressed in February that Chinese growth will accelerate this year. This should be supportive for fixed income risk assets, especially if higher growth feeds through to other region
Weakening global growth data points to end-of-cycle dynamics. However, a pause in US rate hikes could be beneficial for emerging markets.
With the European Central Bank (ECB) set to resume quantitative easing, can European high yield spreads return to their lows of the last time around?
With the European Central Bank (ECB) almost certain to start quantitative easing again, what is the outlook for European credit?