BCA Research’s European Investment Strategy service recommends that investors continue to favor investment grade corporate bonds within European fixed-income portfolios over high-yield corporate bonds. Eurozone investment…
The delta COVID variant is spreading rapidly throughout Australia. The nation’s vaccination progress has been slow, with only 29% of adults having received at least one dose, and this has made the population highly…
Highlights Spread Product: The macro environment is highly supportive for spread product and it will likely remain supportive for the next 12-18 months, at least until the yield curve flattens to below 50 bps. Remain overweight spread…
Feature Chart 1A Tug-Of-War In The US Treasury Market This week, we are publishing one of our periodic reports, covering global central bank lending standard surveys. Yet given some of the moves seen in US bond markets recently…
Despite the Fed backing away from the point of maximum monetary accommodation, threats to the corporate spreads are low. To begin with, even if QE ends this year and interest rates start rising in 2023, the fed funds rate…
Highlights Euro Area debt loads have increased significantly during the pandemic. Debt loads are not uniform. While Germany and, to a lesser extent, Spain look best, France has a less attractive total debt profile than Italy.…
Highlights The ongoing transition to a post-pandemic state and fiscal policy are either positive or net-neutral for risky asset prices. Fiscal thrust will turn to fiscal drag over the coming year, but the negative impact this will…
No significant policy announcements were made at the June FOMC meeting, and yet, subsequent yield moves clearly point to it being an important inflection point for the US bond market. This isn’t obvious if you just look…
Highlights The Indian rupee is about 7% cheaper than its fair value versus the US dollar. Expanding capital expenditures will boost India’s productivity and raise returns on capital. That will attract higher capital inflows,…