This weekend’s election in Japan could be bad news for JGBs if the LDP emerges victorious and this prompts expectations of even more fiscal stimulus. That might not be good for the yen either. But it...

After a record-breaking year, we think the rally in South African assets will lose momentum, given that there is little scope for risk premia to compress much further and we expect precious metals...

One warning sign that a bubble is close to bursting is high and rising gross equity issuance; that was a feature, for example, during the dotcom bubble and the “non-profitable tech” bubble in 2020-21...

The government’s ongoing efforts to shorten its debt issuance mix is likely helping to address the demand/supply imbalance in the Gilt market and easing upward pressure on longer-dated Gilt yields...