EM credit markets have recently defied the selloffs in EM equities, currencies, local currency bonds, and commodities. According to our Emerging Markets Strategy colleagues, such a decoupling is unusual. A potential Trump re-…
A reaction to this morning’s employment report and a preview of the potential bond market implications of next week’s US election and FOMC meeting.
As the odds of a Trump victory rise, European assets underperform US ones. What would be the immediate impact of a Trump victory on European stocks?
Can Powell achieve a soft landing? There are some indications he is doing it. We examine why our negative stance was wrong and analyze the four growth engines that kept recession at bay. Half of these forces remain while the other…
The latest Bank of Japan meeting did not alter our high-conviction views of being long the yen and underweight JGBs.
We recently pointed to the UK Budget announcement as a pivotal event for UK assets. Following an initially positive reception, the market has turned and priced in further fiscal premia in UK assets, with both gilts and the pound…
The Fed’s preferred measure of inflation, core PCE, met expectations of a reacceleration to 0.3% month-on-month, and reached 2.7% year-over-year. The rest of the Personal Income and Outlays report showed solid…
Speculators have supported copper prices as demand growth slowed below the pace of supply growth. Our Commodity and Energy Strategy colleagues believe this does not bode well for the metal. The copper market faces a situation…
