Markets, economy, stocks, growth, global, fixed income, international, asset classes
We raised the probability of Recession to 55% after virus-induced shocks, oil prices’ collapse and violent market volatility. We are de-risking, adding very high quality duration, while expecting credit markets to cheapen and reserve currencies to do well
Amid the recent heightened market volatility, high quality credit has benefited from the substantial rate rally. Will this relationship persist, or could high quality credit trade like a risk asset?
We expect the US dollar to underperform ahead of the first Federal Reserve (the Fed) interest rate cut of this cycle.
Why the US dollar may not be as overvalued as you think
A possible change in Chinese currency policy?