The stripped spreads of dollar-denominated government bonds in Asia are nearing the lows seen prior to both the Asian and Global Financial Crises, but we do not think this signals that another major...

US overnight indexed swap (OIS) rates have been driven down by a confluence of factors, some of which are unrelated to expectations for conventional monetary policy. As a result, caution should be...

Although the valuations of bonds and equities are higher than their long-run averages, we don’t think sharp falls in their prices are likely. This is because we believe their equilibrium valuations...

We have warned for some time that emerging market (EM) equities will be more volatile as attention turns back to the Fed. Momentum may yet drive stocks lower in the near term, but we continue to...