Potential effects of IFRS 9 on bond and equity investment strategies and styles.
In this paper, we assess the potential risks associated with such a strategy by stressing capital requirements using spread-implied ratings.
We cut the chances of recession to 25% after a thaw in the trade war and a year of rate cuts; our forecast is for sub trend growth. Favored sectors include emerging market local currency debt and higher rated short-duration securitized credit.
Markets, economy, stocks, growth, global, fixed income, international, asset classes
The key political, macro and credit risks that insurers may want to address in 2019.
David Kelly, the Fed, interest rates
Measuring book yield correctly