Despite the uncertainty created by the latest FOMC minutes, we do not believe that the Fed will be in any hurry to halt its additional asset purchases completely. Nonetheless, the reaction in the...

The recent rise in UK Gilt yields has been more than accounted for by a surge in breakeven inflation rates. However, we continue to expect long-run inflation expectations, and hence nominal Gilt...

The fall-out from an extended period of monetary expansion in the US and Japan will continue to ripple around the global financial system, not least in the form of capital flows to emerging markets...

We suspect that cyclical forces will prompt a further rise in workers’ slice of the US economic pie this year, and that the resulting squeeze on profit margins will weigh on the stock market.