Even though emerging market (EM) currencies have fallen a long way against the US dollar in recent months, in most cases their valuations do not yet appear particularly low. This pours cold water on...

Although the Norwegian krone has been one of the best-performing currencies during the past couple of months, we expect it to weaken over the next two years as oil prices fall, economic growth slows...

The 5% drop in the S&P 500 so far this week suggests that investors are starting to factor in the prospect of the US economy slowing in response to tighter monetary policy. We think that this will...

The surge in Italian government bond yields in recent months has brought back to the forefront the vulnerability of the banking sector to falls in bond prices. Given our view that Italian bond yields...