Themes and implications from the most recent Global Fixed Income, Currency & Commodities Investment Quarterly
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?
Investment grade and high yield credit in emerging markets have delivered divergent performance over the summer. Could this trend reverse, or is investor caution warranted in the high yield space?
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.
Investment grade credit has been a standout performer in 2019. Given the ongoing macro uncertainty and recent spread tightening, can the rally continue?
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 the European Central Bank (ECB) set to resume quantitative easing, can European high yield spreads return to their lows of the last time around?
Emerging market (EM) central banks are following their developed market peers with easier monetary policy. What are the implications for EM debt?
A relatively benign G20 summit and expectations for easier financial conditions ahead have boosted demand for emerging market debt. However, areas of value can still be found.
With the European Central Bank (ECB) almost certain to start quantitative easing again, what is the outlook for European credit?