We update our inflation forecast following this morning’s CPI release, concluding that TIPS breakeven inflation rates have room to fall.
Our Portfolio Allocation Summary for November 2024.
We give our thoughts on this morning’s CPI release and (lack of) market reaction. We also close our short position in January 2025 fed funds futures.
Our Q3 portfolio was defensive, which we believe will be the appropriate stance in the next six-to-twelve months. Data coming out of the US has remained robust which could cause US bond yields to temporarily overshoot. An overshoot…
Our Portfolio Allocation Summary for October 2024.
Our Portfolio Allocation Summary for September 2024.
Our Portfolio Allocation Summary for August 2024.
The Australian CPI release for Q2 came in broadly within expectations. Headline CPI reaccelerated to 3.8%y/y from 3.6%y/y the previous quarter. Some of the narrower measures of inflation — trimmed-mean and weighted…
In this report, we present the quarterly review of our Model Bond Portfolio. Rebounding growth and political instability led to slightly negative portfolio performance in Q2/2024. As global growth starts to moderate, we continue to…