Global - Currency Thoughts - PDF
The potential for unilateral US currency intervention arose as a topic of research interest last year, and discussion has intensified over recent weeks.
The performance of the US dollar significantly diverged from relative rate spreads
The expected implications of coronavirus for short-term growth are creating challenges for EM currencies vs. the dollar. While there are a lot of unknowns, we still see opportunities.
US exceptionalism shows signs of re-emerging, adding to the pressure on the euro. Could this cause the currency to break out of its recent range?
Oil prices have fallen sharply as investors assess the economic impact of the coronavirus. Could this present a buying opportunity in energy-linked fixed income sectors?
Yield in Europe is increasingly hard to come by, but with the European Central Bank (ECB) expected to ease monetary policy, should investors maintain their fixed income positioning?
Dovish central banks have the potential to extend the cycle—and therefore the positive environment for credit. Despite the strong performance year to date, we see opportunities for selective investors.
This bulletin, written by Dr. David Kelly, addresses the impact that deflationary fears have had on the Fed's decision to postpone rate hikes.