March 17, 2017

For all the focus on political wind changes, one constant in the background is that there is limited appetite for additional monetary stimulus across major developed market central banks. Fiscal and monetary policies have linkages, with changes in one having cyclical implications for the other. We briefly examine some highlights from the North...

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March 10, 2017

The market is fretting over a possible Le Pen victory in France’s presidential elections scheduled in April and May 2017.  Markets are nervous and sovereign spreads on French government bonds recently reached a 4-year high (see graph below). So what are the risks?  Should investors be looking at this as an opportunity or an existential risk to...

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February 21, 2017

Highlights from the Global Fixed Income Webcast

On February 16, 2017, we hosted a webcast on the fixed income outlook, positioning and performance.

Here are the highlights:

Looking at the global markets from a cyclical lens

The consensus is focused on fiscal policy and the new U.S... read more
February 9, 2017

Global markets continue to grind higher thanks to an improving global economy and easy financial conditions. Many believe that the Trump election is the underlying reasons for the new highs in U.S. stock markets, and certainly the proposed fiscal policies and deregulation designed to stimulate the economy are creating...

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January 30, 2017

A look back on 2016

Last year was a volatile environment for both safe haven and risk assets. Deflation and risk-off dominated the first half damaging credit markets that led to new lower lows in global sovereign bond yields. Since mid-summer, indicators of U.S. and global growth and inflation have been in an uptrend...

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