The Weekly Brief (02 November 2015) - J.P. Morgan Asset Management

The Weekly Brief (02 November 2015)

Contributor Global Markets Insights Strategy Team

Last week was central bank week – the US Fed, the Bank of Japan, and the oldest central bank in the world: the Sveriges Riksbank. On Wednesday, Sweden’s central bank left rates unchanged but added more (from SEK 135bn to SEK 200bn) to its quantitative easing (QE) programme.

The extra six months of purchases will run from January to June 2016. While central banks often see their currency depreciate after an easing announcement, the Swedish krona actually rose versus its major peers. Perhaps because policy makers didn’t increase the probability of a rate cut by year-end and inflation in the country is actually starting to come through. Bond markets did react in the expected way: 2-year bond yields in Sweden, France, Finland and Belgium fell during the week. The era of unconventional monetary policy continues.

Riksbank policy rate and Swedish krona
Riksbank policy rate and Swedish krona

Source: Bloomberg, Riskbank. J.P. Morgan Asset Management. Data as at 29 October 2015.

Download the full report:

Related products

JPM Global Macro Opportunities Fund
Leveraging global macro themes to generate performance. This fund targets positive returns in various market conditions by capitalising on the opportunities created by economic trends within a risk-controlled framework.
JPM Multi-Asset Income Fund
Using a flexible approach that seeks only the best income opportunities from around the globe, our Multi-Asset Income Fund aims to provide investors with a consistent and attractive income stream and the opportunity for capital growth.
JPMorgan Global Growth & Income plc

The JPMorgan Global Growth & Income plc seeks out strong long-term returns by investing in a best ideas, high-conviction portfolio from across the world's stock market. The Company also delivers predictable quarterly income distributions which are set at the beginning of its financial year.

Important information

Please be aware that this material is for information purposes only. Any forecasts, figures, opinions, statements of financial market trends or investment techniques and strategies expressed are, unless otherwise stated, J.P. Morgan Asset Management’s own at the date of this document. They are considered to be reliable at the time of writing, may not necessarily be all-inclusive and are not guaranteed as to accuracy. They may be subject to change without reference or notification to you. JPMorgan Asset Management Marketing Limited accepts no legal responsibility or liability for any matter or opinion expressed in this material.

The value of investments and the income from them can fall as well as rise and investors may not get back the full amount invested. Past performance is not a guide to the future.

The Weekly Brief (02 November 2015)