A sharp increase in the cost of hedging has diminished the appeal of Treasuries to many foreign investors, especially those whose funds are denominated in yen and euros. This is potentially...

Whereas the collapse in Chinese equity prices sent global markets into meltdown last summer, they have begun to drive the outperformance of the MSCI Emerging Markets Index in recent weeks. A shift in...

The rally in emerging market (EM) equities has been given another leg up as it has become less likely that the Fed will hike interest rates any time soon, and China’s economy has shown signs of...

We doubt that spreads on US corporate bonds are set to widen, even though we expect the yields of Treasuries to rise as the Fed tightens policy faster than investors currently anticipate. Past form...