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?
Weakening global growth data points to end-of-cycle dynamics. However, a pause in US rate hikes could be beneficial for emerging markets.
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 already accommodative European Central Bank (ECB) surprised markets with an even more dovish stance at its 7 March meeting—positive news for European credit.
With data coming in much stronger in the US than in the rest of the developed markets, does recent spread widening for US high yield present an entry point?
Yield in Europe is increasingly hard to come by, but with the European Central Bank (ECB) expected to ease monetary policy, should investors maintain their fixed income positioning?
Global - Currency Thoughts - PDF
The bond bear market, continued normalizing of monetary policy and need to finance expanding U.S. budget deficits, long-term rates are set to rise.
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?
This research examines the evolution of baby boomer balance sheets and attempts to assess and quantify its implications for markets and investors.