An already accommodative European Central Bank (ECB) surprised markets with an even more dovish stance at its 7 March meeting—positive news for European credit.
Dovish central banks, strong fundamentals and an improved outlook for China suggest that all stars are aligned for emerging markets. How long can the year-to-date rally continue?
Dovish central banks have the potential to extend the cycle—and therefore the positive environment for credit. Despite the strong performance year to date, we see opportunities for selective investors.
Weakness in the global economy has been almost entirely driven by the manufacturing sector. With recent data showing tentative signs of a recovery, what could be the implications for bond markets?
An improved macroeconomic backdrop continues to support hard currency emerging market (EM) debt, which has outperformed local currency EM debt this year. However, is there now room for EM currencies to take off?
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?
Central banks across the globe recalibrated their policy stance in the first week of May, making it clear that inflation is not the sole driver of their decisions. What does this suggest for the future direction of monetary policy?
Despite the recent resurgence of growth worries, we maintain the view we expressed in February that Chinese growth will accelerate this year. This should be supportive for fixed income risk assets, especially if higher growth feeds through to other region
Market excitement about a resolution to the long-running U.S.-China trade dispute built ahead of (what were rumored to be) the final round of negotiations this week. However, comments from President Trump May 5 helped to dash that optimism.
Trade rhetoric is dominating news flow, weighing on risk assets. What could be the implications for US growth and inflation, and how is the outlook reflected in valuations?