The fact that short-dated bond yields are negative in many European countries is often attributed to the prospect of substantial purchases of euro-zone government debt by the ECB under the policy of...

Despite the resurgent risk of a Greek exit from the euro-zone, investors have so far remained relatively relaxed about the possible effect on emerging markets. Admittedly, there were further net...

The US stock market has weathered the approach of monetary tightening well and we expect it to continue to do so once the FOMC begins to raise the federal funds rate. Nonetheless, we would be...

Sterling is one of the only major currencies to have appreciated against the US dollar over the past month. However, we doubt its renewed strength will last.