Two things we said we needed – fiscal stimulus from the US government and corporate bond purchases by the Federal Reserve (Fed) – have now happened. Does that mean it ‘s time to start buying corporate bonds and, if so, how far down the quality spectrum?
Daily comprehensive market and economic trends through clear and compelling charts.
This weekly update provides a snapshot of changes in the economy and markets and their implications for investors.
The coronavirus outbreak has led to a massive global demand shock. A plunge in economic activity, probably larger than a typical recession, has likely begun.
Start the week off right with this one-page snapshot of headlines and market performance.
The length of the coming recession depends on the monetary and fiscal response. With market technicals proving challenging, do current valuations compensate investors for increased default risk?
We raised the probability of Recession to 55% after virus-induced shocks, oil prices’ collapse and violent market volatility. We are de-risking, adding very high quality duration, while expecting credit markets to cheapen and reserve currencies to do well
The spread of the coronavirus and its impact on global economic activity is increasingly troubling investors.
Concerns remain heightened around both the spread and the economic repercussions of the COVID-19 virus. We assess the gamechangers to the situation over the past week, and what it would take to stabilise markets.
Our views on the recent dislocation and the opportunity it presents