Filtered by Subscriptions: Bonds & Equities Use setting Bonds & Equities
This report is only available as a PDF. Click to download. … How long will German Bunds remain a safe haven? …
15th July 2011
This Focus provides an interim report on the calls that we published at the start of the year. We were right to be cautious on the prospects for the global economy and equity markets and to forecast that US Treasury yields would fall rather than rise. The …
14th July 2011
German Bunds have prospered from the escalating crisis in the euro-zone. Earlier this week, the 10- year yield briefly hit 2.5% – a new low for the year – before edging up again to 2.7% now. Our base case scenario is that political dithering will …
This report is only available as a PDF. Click to download. … Even darker days ahead for the euro-zone …
This report is only available as a PDF. Click to download. … Euro-zone fiscal crisis starts to spread …
13th July 2011
This report is only available as a PDF. Click to download. … Fragile US labour market casts a pall over commodity prices …
12th July 2011
A decline in China's pig population at the turn of the year is now resulting in a surge in pork prices that probably pushed consumer price inflation above 6% y/y last month. Price pressures for non-food items have actually continued to ease, but headline …
9th July 2011
This report is only available as a PDF. Click to download. … China’s rate hike should not lead to a hard landing …
8th July 2011
This report is only available as a PDF. Click to download. … What next for the Australian dollar? …
7th July 2011
This report is only available as a PDF. Click to download. … Markets shrug off end of QE2 …
6th July 2011
This report is only available as a PDF. Click to download. … UK stock market rebound unlikely to last …
This report is only available as a PDF. Click to download. … US economy far from firing on all cylinders …
5th July 2011
This report is only available as a PDF. Click to download. … US stock market rally should prove short-lived …
2nd July 2011
The S&P 500 closed above 1,300 yesterday for the first time since early June and is now about 4% higher than its level at the beginning of the year. There are plenty of optimists who expect the stock market to go from strength to strength. However, we …
1st July 2011
The relative valuations of emerging market equities and bonds are no longer as attractive as they have been in the past. But the fears of overheating and hard landings that have held many back so far this year are generally exaggerated or at least …
This report is only available as a PDF. Click to download. … Many challenges still lie ahead for Greece …
This report is only available as a PDF. Click to download. … Bank roll-over plan no panacea for Greece …
30th June 2011
This report is only available as a PDF. Click to download. … Euro-zone should not bank on China to save the day …
29th June 2011
Despite warm words of support from China’s leaders, there is no reason to believe that China has the ability to solve the euro-zone’s debt crisis. We estimate that China has already bought more than €40bn of euro-denominated assets this year, many in …
28th June 2011
This report is only available as a PDF. Click to download. … Lower oil prices alone won't rescue the world economy …
This report is only available as a PDF. Click to download. … Global slowdown sets tone for second half of the year …
25th June 2011
This report is only available as a PDF. Click to download. … Greece remains close to the brink …
24th June 2011
Recent data provide tentative evidence that China’s accumulation of foreign exchange reserves has significantly outpaced her net purchases of US government securities in recent months. This development may well lead to increased anxiety about the outlook …
23rd June 2011
This report is only available as a PDF. Click to download. … Are markets underestimating the potential fall-out from Greece? …
This report is only available as a PDF. Click to download. … Emerging equities should outperform in second half of 2011 …
22nd June 2011
This report is only available as a PDF. Click to download. … Fed unlikely to bolster expectations of QE3 …
21st June 2011
We continue to expect the 10-year US Treasury yield to hit 2.5% by year-end. Admittedly, the Fed’s second round of quantitative easing (QE2) draws to a close this month, there are concerns that “surplus” global savings may soon dry up, and the US public …
18th June 2011
This report is only available as a PDF. Click to download. … Greece close to the edge …
This report is only available as a PDF. Click to download. … What next for the dollar? …
17th June 2011
We have revised our expectation of a large rebound in the value of the dollar. Although we still think some appreciation against the other “majors” is likely by the end of next year, we now forecast that the US currency will only rise to $1.30 against the …
16th June 2011
This report is only available as a PDF. Click to download. … A second bail-out would not solve Greece's problems …
This report is only available as a PDF. Click to download. … Bank of Japan unlikely to ease just to weaken the yen …
15th June 2011
This report is only available as a PDF. Click to download. … US retail sales probably dropped sharply …
14th June 2011
This report is only available as a PDF. Click to download. … ECB takes a tough line …
11th June 2011
This report is only available as a PDF. Click to download. … US equities should fall further without the support of QE3 …
9th June 2011
This report is only available as a PDF. Click to download. … Prospects for UK gilts still seem rosy …
8th June 2011
This report is only available as a PDF. Click to download. … Oil prices likely to fall, whatever OPEC decides …
7th June 2011
Overseas investors appear to have lost their appetite for Japanese equities after a lengthy buying spree. This has presumably been due to the continued underperformance of Japan’s stock market despite historically attractive valuations. The most plausible …
6th June 2011
This report is only available as a PDF. Click to download. … Faltering US labour market gives Treasuries another lift …
This report is only available as a PDF. Click to download. … 10-year US Treasury yields should fall further …
3rd June 2011
10-year US Treasury yields dropped sharply in May. The principal catalyst for the decline was a further revision to expectations for short-term interest rates. Admittedly, investors now see little conventional monetary tightening on the horizon. But we …
2nd June 2011
The yield on 10-year Treasuries has fallen below 3% for the first time this year and by more than 60bp since early April. To some, this rally must inevitably come to an end soon. After all, the Fed’s second round of quantitative easing draws to a close …
This report is only available as a PDF. Click to download. … Voluntary debt rescheduling no panacea for Greece …
This report is only available as a PDF. Click to download. … Beware the seasonality in China's official PMI …
1st June 2011
This report is only available as a PDF. Click to download. … Growth in US payrolls likely to have slowed in May …
30th May 2011
This report is only available as a PDF. Click to download. … Outlook for US corporate profits is not rosy …
27th May 2011
US corporate profits expanded at an annualised rate of just over 5% in Q1, following an increase of nearly 10% in the prior quarter. Margins were boosted by renewed downward pressure on unit labour costs. Despite the prevailing high level of unemployment, …
26th May 2011
This report is only available as a PDF. Click to download. … German Bunds should continue to prosper …
This report is only available as a PDF. Click to download. … Can Belgium side-step the euro-zone's fiscal crisis? …
25th May 2011
This report is only available as a PDF. Click to download. … Commodity prices set to fall further …
24th May 2011
