Filtered by Subscriptions: Bonds & Equities Use setting Bonds & Equities
This report is only available as a PDF. Click to download. … FOMC unlikely to announce QE3 until early next year …
12th December 2011
This report is only available as a PDF. Click to download. … Markets’ reaction to hard-line ECB seems too complacent …
9th December 2011
This report is only available as a PDF. Click to download. … All eyes on the ECB …
8th December 2011
This report is only available as a PDF. Click to download. … Bunds look more vulnerable than Treasuries …
7th December 2011
The US and European business cycles have become highly synchronised in recent decades. But this does not preclude significant economic divergence in response to major structural events. The last of these was German reunification. (See Chart 1.) The next …
6th December 2011
This report is only available as a PDF. Click to download. … Is the US labour market likely to ruffle Treasuries? …
The sharp drop in the US unemployment rate reported on Friday barely ruffled Treasuries. A few more months of such rosy news on the labour market would probably elicit a less sanguine response in the bond market. But we are sceptical the unemployment rate …
5th December 2011
This report is only available as a PDF. Click to download. … ECB set to lower interest rates again …
Growing stresses in the banking system fuelled by an escalation of the euro-zone crisis prompted the major central banks to announce measures aimed at enhancing their capacity to provide liquidity support at the end of November. Coupled with renewed …
2nd December 2011
This report is only available as a PDF. Click to download. … Little upside for the euro from a grand rescue plan …
This report is only available as a PDF. Click to download. … Enhanced central bank liquidity support is not a game changer …
1st December 2011
We have reviewed our key market forecasts in light of a change to our assumption about the timing of an EMU break-up. The new numbers are presented in the table on the next page. There are four main changes. First, we expect the euro to fall more quickly …
30th November 2011
This report is only available as a PDF. Click to download. … UK Chancellor sticks to his guns …
This report is only available as a PDF. Click to download. … Are UK gilts really a safer haven than German bunds? …
29th November 2011
This report is only available as a PDF. Click to download. … All eyes on Spanish and Italian bond auctions …
28th November 2011
This report is only available as a PDF. Click to download. … German Bunds likely to remain under pressure …
25th November 2011
Germany is caught between a rock and a hard place. If she rides to the rescue of her neighbours, she will undermine her own credit standing. If she chooses not to, the euro-zone will probably collapse. This unsavoury dilemma had already led to us to …
24th November 2011
This report is only available as a PDF. Click to download. … Will monetary easing boost China's stock market? …
This report is only available as a PDF. Click to download. … US Treasuries brush off deficit deadlock …
23rd November 2011
Greece is on the cusp of a sovereign default that could still be either “orderly” or “disorderly”. An orderly default would cause less upheaval in the markets, but any respite would probably be shortlived. A disorderly default would cause disruption of a …
22nd November 2011
This report is only available as a PDF. Click to download. … What next for “core” euro-zone bond markets? …
The yields on government bonds issued by France, Austria, Belgium and the Netherlands have risen sharply in recent weeks in a worrying sign that the euro-zone’s debt crisis is starting to rot its “core” (with the notable exception of Germany). We suspect …
21st November 2011
This report is only available as a PDF. Click to download. … FOMC minutes may suggest QE3 is getting close …
This report is only available as a PDF. Click to download. … More pain in Spain …
18th November 2011
This report is only available as a PDF. Click to download. … EMU break-up concerns likely to build …
17th November 2011
Details have begun to emerge of the revised debt exchange proposed for Greece. The good news is that a larger haircut will make her debt more manageable, all else equal. The bad news is that all else is not equal. Calm in the financial markets is unlikely …
16th November 2011
This report is only available as a PDF. Click to download. … Euro-zone crisis spreads to the core …
This report is only available as a PDF. Click to download. … Italy – a lull in the storm? …
15th November 2011
This report is only available as a PDF. Click to download. … What next for the euro-zone? …
14th November 2011
This report is only available as a PDF. Click to download. … How will euro-zone banks cope if Italy needs a bail-out? …
11th November 2011
This week’s surge in Italian government bond yields has catapulted the euro-zone debt crisis into a dangerous new phase. Italy’s problems pose a far greater threat to the region’s banks than those of Greece. Not surprisingly, indicators of stress in the …
10th November 2011
This report is only available as a PDF. Click to download. … Italy – too big to fail, too big to save? …
This report is only available as a PDF. Click to download. … Stock market implications of labour’s plunging share of income …
9th November 2011
Labour’s share of income in the US nonfarm business sector hit its lowest level since at least 1947 in Q3 according to data released last Thursday by the Bureau of Labor Statistics (BLS). (See Chart 1.) A continued drop in labour’s share would be a boon …
8th November 2011
This report is only available as a PDF. Click to download. … What help from lower commodity prices? …
This report is only available as a PDF. Click to download. … US employment report paints a mixed picture …
7th November 2011
This report is only available as a PDF. Click to download. … ECB action looks too little, too late …
4th November 2011
This report is only available as a PDF. Click to download. … Cannes you help? …
3rd November 2011
Investors rediscovered their appetite for risk in October amid some slightly better US economic data, reasonable US third quarter earnings numbers, renewed speculation about a third round of quantitative easing from the Fed and optimism that euro-zone …
2nd November 2011
This report is only available as a PDF. Click to download. … Optimism evaporates …
Intervention by the Japanese authorities to weaken the yen has failed to prop up the country’s ailing stock market. Admittedly, the slide in equity prices has been due to renewed concerns about the eurozone rather than to doubts about the benefits of a …
1st November 2011
This report is only available as a PDF. Click to download. … Intervention unlikely to weaken the yen for long …
This report is only available as a PDF. Click to download. … Central banks back in focus …
31st October 2011
Despite yet another round of speculation suggesting that China is about to ride to the rescue of the euro-zone, Europe will still have to solve its own problems. Meaningful Chinese support would probably require additional concessions that European …
29th October 2011
We do not expect the recent respite for risky assets to last. The outlook for the advanced economies is bleak and the growth rate of corporate earnings is set to slow. Investors’ enthusiasm for risk is also likely to be tempered soon by fresh concerns …
This report is only available as a PDF. Click to download. … Euro-zone policymakers' latest grand plan lacks teeth …
This report is only available as a PDF. Click to download. … Will euro-zone policymakers disappoint markets? …
28th October 2011
The resilience of the yen and a reassessment of the relative strengths of the various pressures on the Japanese currency have prompted us to change the direction of our forecasts. We now expect the yen to appreciate to 70 against the US dollar by 2012 and …
27th October 2011
This report is only available as a PDF. Click to download. … All eyes on euro-zone policymakers …
This report is only available as a PDF. Click to download. … Politicians fiddle as euro-zone slides into recession …
26th October 2011
