Markets, economy, stocks, growth, global, fixed income, international, asset classes
We expect the US dollar to underperform ahead of the first Federal Reserve (the Fed) interest rate cut of this cycle.
We raised the probability of Recession to 55% after virus-induced shocks, oil prices’ collapse and violent market volatility. We are de-risking, adding very high quality duration, while expecting credit markets to cheapen and reserve currencies to do well
The potential for unilateral US currency intervention arose as a topic of research interest last year, and discussion has intensified over recent weeks.