In this special holiday edition, Michael explains how an evening at home went awry: how a discussion about China and Hong Kong morphed into a chart war about Trump, Hoover, Taft, Rachel Maddow and Anderson Cooper.
As an increasing number of high yield corporates run into trouble we question whether the rise in corporate distress is a signal for more caution, or if lower rated credits now look more attractive at improved valuations.
Valuations for high quality credit may seem slightly stretched in the context of outperformance so far this year, but with various catalysts ahead, we believe the asset class will remain in favour.
Emerging market (EM) central banks are following their developed market peers with easier monetary policy. What are the implications for EM debt?
Emerging market debt is underpinned by a solid fundamental backdrop, but the local index is at all-time tights. A differentiated approach seems warranted.
Implications for insurance capital requirements
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?
Recent data releases tentatively point to a recovery in the manufacturing sectors of the major economies.
The Bank of Japan has reacted to a persistently flat yield curve by 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?
As one central bank after the other announces cuts to interest rates, we continue to believe that buying duration will be worthwhile for investors, even with yields close to record lows.