Swiss franc Assumptions
European Central Bank meeting: Quantitative easing is coming to an end but low rates likely to persist
Today the European Central Bank (ECB), at its final monetary policy meeting of the year, confirmed that it will cease net asset purchases at the end of this year, in line with its previous guidance.
In this year’s Holiday Eye on the Market, Michael records a note to his spouse on her father, the 2020 US Presidential election, and what might be the widest ideological divide in 100 years.
J.P. Morgan 2019 LTCMA Currency Exchange Rate Assumptions
J.P. Morgan 2019 LTCMA Macroeconomic Assumptions
J.P. Morgan 2019 LTCMA Fixed Income Assumptions
Caught our eye: UK pension buy and maintain strategies could bring demand pressure to sterling corporate bonds
In an already tightly held market for sterling corporate bonds, even modest moves by UK pension funds to adopt buy and maintain strategies could create stiff competition for these assets.
Pension funds don’t face the many constraints that make buy and maintain strategies so well-suited to insurers, and can make use of these freedoms when designing portfolios to meet the liability-aware investment needs of pension funds.
UK pension plans concerned about how to invest in a volatile, late cycle environment may want to consider two practices: continue effective rebalancing and don’t postpone further duration hedging in anticipation of rising rates.
With global recessionary risks rising, we provide a framework to help UK pensions prepare for near-term risks that could challenge the fulfillment of their sponsor covenants.