The unusual stability of long-term US Treasury yields during the last Fed tightening cycle between 2004 and 2006 has been attributed to a glut of global savings. We are not convinced by this...

The UK stock market has performed poorly on an absolute and relative basis in 2015, dragged down by sharp falls in the basic materials and oil & gas sectors. These two sectors account for around one...

Since the end of the last recession, there has been an almost interrupted net outflow from US mutual funds that invest in domestic equities. This partly reflects investors’ growing preference for...

The relatively calm reactions to Friday’s strong US employment report support our view that the gradual return of US interest rates towards more normal levels is unlikely to be the seismic shock that...