A slew of fundamental developments over the week suggests the macroeconomic backdrop continues to deteriorate, and yet bond markets are still generating strong returns across not only safe havens but also risk assets. Can this momentum persist into Sept.
Where should core or core plus portfolios look to find value?
How can investors potentially achieve greater total return in an unconstrained fixed income portfolio?
What are the risk and return considerations when it comes to private credit?
Do high yield bonds and leveraged loans still have room to run?
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
The performance of the US dollar significantly diverged from relative rate spreads.
As a recovery in macro data produces glimmers of hope for the global economy, we question whether there is any value buying risk assets heading into the final month of the year, or if the market first needs more clarity on a trade deal to price in its con