Latest fixed income thinking
Regulatory shifts in China: A new fork in the road?
12 Oct. 2021
Investors in China should view recent interventions by the government in the context of its history and longer-term strategic ambitions, argues Amy Kam.
What does the data say? Climate change, real yields and live TV
27 Aug. 2021
In the latest instalment of our visual series on topical data themes, we look at the latest IPCC report, the significant decline in US real yields and people’s live TV versus streaming habits.
Are bond investors too complacent about inflation?
11 Aug. 2021
US Treasury yields have fallen appreciably in recent weeks, seemingly dismissing the threat of rising consumer prices. Some investors could be in for a nasty surprise if inflation proves more intransigent than anticipated, argue Michael Grady and Katarina Cohrs.
Food for thought: EMD and the threat of inflation
16 Jul. 2021
Emerging market debt investors need to keep a watchful eye on food price inflation as a potential key driver of monetary policy, especially as this has not coincided with a weaker US dollar, argues Nafez Zouk.
China’s Big Tech crackdown
5 Jul. 2021
Like Washington and Brussels, Beijing is worried about the growing power of large technology companies. But China’s regulators are taking swifter, more radical action than their peers in the West.
The taming of the few
1 Jul. 2021
Regulatory authorities around the world are targeting the big US tech giants. However, while investors need to keep a watchful eye on developments, Big Tech’s stranglehold and influence on numerous economic sectors will be hard to loosen.
Lessons from Archegos: Have investors become complacent about banks?
14 Jun. 2021
The advent of tougher regulations after the global financial crisis led investors to think banks were safe. Was the Archegos scandal a wake-up call or much ado about nothing?
Government deficits still matter, just not right now
13 May 2021
Deciding when to tighten the purse strings and hike taxes is complex at any time, and even more so when the economic fallout from COVID-19 remains unclear. Getting deficits – the gap between government spending and income – under control will need to happen eventually, but it would be a brave government that pursued such a goal now.
Are sustainable bonds the new smartphones?
10 May 2021
The market for sustainable bonds to fund activities that have a positive impact on the environment or society is booming. But there are many factors to consider before investing. Not least among them is a crucial question: is your money really being used to fund the activities promised?
Divergence, debt sustainability and climate: Key takeaways from the IMF Spring meetings
14 Apr. 2021
Debate over the short- and longer-term consequences of COVID-19 dominated the Spring meetings of the International Monetary Fund, with our emerging-market debt team among those following discussions closely.
Deficits still matter… just not right now
22 Mar. 2021
Deciding when to tighten the purse strings and hike taxes is complex at any time, even more so when the economic fallout from COVID-19 remains unclear. Getting deficits under control will need to happen eventually, but it would be a brave government to pursue that goal in the short term.
Why it is getting harder to assess value in financial markets
19 Mar. 2021
Massive intervention by central banks and governments in recent years has left investors struggling to value financial assets.