The economic backdrop in 2019 has been characterized by weakness in manufacturing being offset by the resilience of services and health of the consumer.
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?
The Bank of Japan has reacted to a persistently flat yield curve As demand for duration sendsby adjusting its Rinban operations and by signalling that a potential rate cut is around the corner. But will these attempts to steepen the curve be sustainable?
As we hold our latest Investment Quarterly meeting, we take a look at how 2019 has played out so far. Dovish central bank policy has propelled markets to strong returns, but trade remains a key risk.
Currencies through an ESG lens
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.
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?
Reaching for yield, which we define as buying bonds with wider spreads after controlling for sector and rating impacts, is a topic that frequently arises in the life insurance industry.
Market sentiment towards the Chinese currency has shifted significantly
The Bank of Japan has reacted to a persistently flat yield curve by adjusting its Rinban operations and by signalling that a potential rate cut is around the corner. But will these attempts to steepen the curve be sustainable?