Dollar-denominated emerging market (EM) government bonds fared badly in 2013. The JP Morgan EMBI+ returned around minus 8%, which was the second worst annual performance since 1998. While we do not...

We continue to expect the Fed to taper its asset purchases only gradually and to keep US interest rates on hold near zero until mid-2015. Nonetheless, thereafter we expect the Fed to return rates to...

One explanation for the relatively poor performance of emerging market (EM) equities has been the economic slowdown in many countries. But while supply-side structural reforms are needed to...

An extended period of ultra-loose monetary policy and additional asset purchases by the Bank of Japan should have some (mostly) positive spill-over effects into world markets this year and next...