The volatility of the MSCI Emerging Markets (EM) Index has plunged, as the index has climbed steadily to an all-time high in local currency terms. But these developments need not inevitably unwind...

Government bond yields have risen recently by more in Germany than in some “peripheral” countries of the euro-zone. This has happened even though the sell-off in bonds has been caused by concerns that...

It is two decades since the Fed compared the yields of US government bonds and equities in its semiannual report to Congress, the next instalment of which Janet Yellen will deliver tomorrow. A...

The price/earnings ratio of the MSCI Emerging Markets Index has increased to a level that is well above its long-run average. However, in our view, the valuation of the index is not especially high...