EPFR Global data reveal that ETF and mutual fund portfolio flows into emerging market (EM) bonds were negative in October for the fifth month running. By contrast, flows into EM equities were...

The Nikkei closed back above 15,000 today, helped by a renewed decline in the yen past 100 to the dollar. We expect Japanese equities to advance further and the currency to continue to weaken, due...

The earnings yield of a stock market index should be closely related to the average real yield of long-dated bonds issued by its constituents. In the US, we think the latter is likely to rise...

There is growing speculation that when the Fed eventually announces a tapering of its asset purchases, it will simultaneously lower its unemployment rate threshold. A commitment to keep rates lower...