The disinflation to date has been benign because it has come almost entirely from improving supply. But the supply-side tailwind has exhausted, so the last mile of the journey to 2 percent inflation will be the hardest, especially in…
As expected, the Reserve Bank of Australia kept the policy rate unchanged at 4.35% on Tuesday. The updated economic forecasts show a downward revision to the growth outlook for this year versus the previous round of…
Although our base case remains that a continuation of the disinflation process will allow policymakers to pivot to rate cuts this year, we continue to monitor risks to this outlook. On this front, some key indicators have…
Our Portfolio Allocation Summary for February 2024.
Treasury yields continued to push higher on Monday, bringing the total increase over the past two trading days to 29bps. The move comes on the back of strong economic data releases indicating that conditions in the US are…
BCA Research’s European Investment Strategy service upgrades Swedish government bonds to neutral from underweight within European fixed-income portfolios. The Riksbank kept its policy rate steady at 4% last week.…
Our Central Bank Monitors support European central bankers’ decision to hold rates steady. Find out what it means for European fixed-income portfolio allocation.
The US Employment report came in well above consensus expectations on Friday, delivering a strong positive signal on labor market conditions in January. The 353 thousand increase in nonfarm payroll employment beat expectations of…
Our thoughts on bond positioning following this morning’s employment data.
The Saudi economy is facing internal and external headwinds. The geopolitical conflict is also escalating in the Middle East. EM equity portfolios should stay neutral on Saudi stocks. EM sovereign credit portfolios should upgrade…