Global Markets

Global Markets Update

We don’t expect higher inflation to derail US equities

While we think that inflation in the US will prove more persistent than both the Fed and investors appear to anticipate, we still expect the S&P 500 to make some further gains over the next couple of years.

11 June 2021

Global Markets Update

We expect the tailwind to stocks from commodities to fade

The rise in commodity prices has boosted some commodity-heavy stock markets, but we suspect that it will run out of steam before long, limiting those stock markets’ gains over the next couple of years.

10 June 2021

Global Markets Update

Assessing the outlook for EM monetary policy & LC bonds

While we expect the yields of 10-year emerging market (EM) local-currency (LC) government bonds to increase as the US 10-year Treasury yield resumes its rise, we think increases in yields will generally be smaller than in the US. This reflects our view that most EM central banks will tighten policy more slowly than investors currently anticipate.

4 June 2021

Latest Research

Global Markets Update

We expect gradual increases in 10-year DM bond yields

3 June 2021

EM Markets Chart Book

We think EM equities will rise, not shine

27 May 2021

Global Markets Update

Earnings expectations and the outlook for the S&P 500

27 May 2021

DM Markets Chart Book

We doubt inflation will send the equity rally into reverse

20 May 2021

Global Markets Update

Inflation and long-term US Treasury yields

19 May 2021
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