The performance of the US dollar significantly diverged from relative rate spreads
A strategic framework for building a private credit portfolio
Accommodative central banks and strong investor demand continue to support global fixed income. How long can this positive environment endure and what could trigger a reversal in sentiment?
Investors going into 2020 are facing a very different environment from a year ago. What could the year bring, and where might the opportunities lie?
Rising tension between the US and Iran has become the first focal point for markets in 2020. Do the latest developments alter the macro outlook and how are markets pricing geopolitical risk?
Emerging market debt has done well in 2019. Fundamentals for 2020 look reasonable and we see some opportunities, but risks persist, meaning a selective approach appears warranted.
With sentiment showing signs of improvement following recent macro data releases, is now the right time to build risk in portfolios?
We may not be outright US dollar bulls, but fundamentals and quantitative valuation factors both suggest that investors are currently too negative on the currency.
The Bank of Japan has reacted to a persistently flat yield curve As demand for duration sendsby adjusting its Rinban operations and by signalling that a potential rate cut is around the corner. But will these attempts to steepen the curve be sustainable?
European high yield spreads are still above their long-term tights, but that doesn’t take quality into account. Are fundamentals robust enough to justify taking more risks?