Recent data from across developed markets has confirmed that underlying inflationary trends remain soft.
We are upgrading our view on equities to reflect early signs of an upturn in macroeconomic data, falling recession risk and an increase in the chance of at least a limited U.S.-China trade deal.
The UK population are returning to the polls, in a bid to resolve the Brexit impasse. Abundant uncertainties about the election result argue against significant positioning in sterling assets in either direction.
This weekly update provides a snapshot of changes in the economy and markets and their implications for investors.
A slew of fundamental developments over the week suggests the macroeconomic backdrop continues to deteriorate, and yet bond markets are still generating strong returns across not only safe havens but also risk assets. Can this momentum persist into Sept.
Given our view that the global economy is just as likely to contract as expand over the next three-to-six months, is it now time to position fixed income portfolios more defensively?
Credit markets have enjoyed a strong march upwards, supported by robust technicals and a broadly positive fundamental backdrop. With issuance set to pick up, could now be the time to take some chips off the table?
A new trade announcement from the Trump administration has comprehensively overshadowed the Federal Reserve’s first rate cut since the financial crisis. What impact will the most recent round of tariffs have on the economy and on markets?
With inflation stubbornly weak, the European Central Bank (ECB) is now expected to act. What would more monetary stimulus mean for investors?
With the European Central Bank (ECB) almost certain to start quantitative easing again, what is the outlook for European credit?