Filtered by Subscriptions: Bonds & Equities Use setting Bonds & Equities
This report is only available as a PDF. Click to download. … How vulnerable is sterling to a resumption of QE? …
7th March 2013
This report is only available as a PDF. Click to download. … JGB rally may soon draw to a close …
6th March 2013
The yen’s safe haven status has been challenged by expectations of aggressive monetary expansion by the Bank of Japan and the swing in Japan’s trade balance from surplus to deficit. However, even if some overseas investors struggle to see Japan as a safe …
5th March 2013
This report is only available as a PDF. Click to download. … Bernanke highlights the risks to bondholders …
The 10-year US Treasury yield fell back in February, reversing about half of its rise in January. The drop was partly prompted by safe-haven demand following the inconclusive result of the Italian general election. It was also aided by the Fed Chairman’s …
4th March 2013
This report is only available as a PDF. Click to download. … US labour market slowly strengthening …
This report is only available as a PDF. Click to download. … Rally in euro-zone equities may not last …
1st March 2013
This report is only available as a PDF. Click to download. … Over to you, Mr Kuroda …
28th February 2013
The partial rebound in the yen and latest wobble in the Nikkei may simply be a pause in the trends of weakness in the Japanese currency and associated strength in equities, which would not be unusual following moves as big as those seen since last …
27th February 2013
We think the biggest falls in the pound may now be behind us. Granted, Moody’s decision to strip the UK of its AAA rating drove the currency down even further early on Monday. But sterling was fairly stable yesterday and could benefit soon from a shift in …
This report is only available as a PDF. Click to download. … Italian government bonds come under further fire …
This report is only available as a PDF. Click to download. … How worried is Bernanke about the costs of quantitative easing? …
26th February 2013
This report is only available as a PDF. Click to download. … Attention turns to Bernanke …
25th February 2013
This report is only available as a PDF. Click to download. … US and China indicate growing caution on monetary stimulus …
22nd February 2013
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 markets to the possibility of an early end to QE3 has …
21st February 2013
This report is only available as a PDF. Click to download. … Sterling’s slide not just due to the “Carney short” …
This report is only available as a PDF. Click to download. … Three-way split at the Bank of England? …
20th February 2013
This report is only available as a PDF. Click to download. … Time to give "currency wars" a rest …
19th February 2013
This report is only available as a PDF. Click to download. … G20 likely to stick to the script …
18th February 2013
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 yields, to drop back over the course of the year. … Are …
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. But the G20 statement should allow the focus to move on …
This report is only available as a PDF. Click to download. … Euro-zone and Japanese economies both shrank again in Q4 …
15th February 2013
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. … A squeeze on profit margins could weigh on US …
14th February 2013
This report is only available as a PDF. Click to download. … US equities vulnerable to a rise in labour’s share of the pie …
Talk of “currency wars” continues to dominate the headlines despite the efforts of the G7. Indeed, the latest official comments appear to have added to the confusion. This Update summarises the six key points as we see them in an attempt to cut through …
13th February 2013
This report is only available as a PDF. Click to download. … G7 calls for truce in “currency wars” …
The recent slide in the yen against the dollar has mainly been driven by speculation that the Bank of Japan will soon start to loosen monetary policy much more aggressively. However, there is little chance that the Japanese central bank will step up its …
12th February 2013
This report is only available as a PDF. Click to download. … Devaluation won’t do much to help Venezuela’s economy …
This report is only available as a PDF. Click to download. … G20 meeting to be dominated by talk of “currency wars” …
11th February 2013
The yield of the JP Morgan Emerging Market Bond Index Plus recently fell to its lowest ever level, while the annual average dollar-based return from the MSCI Emerging Market Index of equities has been an impressive 20% during the past four years. Although …
8th February 2013
This report is only available as a PDF. Click to download. … Euro stumbles again …
This report is only available as a PDF. Click to download. … Strong euro starts to weigh on euro-zone equities …
7th February 2013
The yen has already fallen to within touching distance of our mid-year forecast of 95 to the dollar, while the surge in the Nikkei has left it only a little short of our target of 11,600. However, even though the narrative behind these related trends …
6th February 2013
This report is only available as a PDF. Click to download. … Drop in the Nikkei may prove short-lived …
This report is only available as a PDF. Click to download. … Euro wobbles on political news …
5th February 2013
Dollar-denominated emerging market bonds aside, most risky assets began the New Year with a bang amid a further easing of tension in the euro-zone and broad-based signs of improvement in global economic data. Japan’s stock market was once again the star …
4th February 2013
This report is only available as a PDF. Click to download. … US Employment Report soothes recession concerns …
This report is only available as a PDF. Click to download. … US labour market not strong enough to rattle Treasuries …
1st February 2013
This report is only available as a PDF. Click to download. … Fall in US Q4 GDP does not signal the start of a new recession …
31st January 2013
We now think risky assets will generally fare quite well in the first half of 2013, as tension in the euro-zone continues to ease and the Fed expands its balance sheet further. We expect these factors to trump the threat posed by political brinkmanship …
30th January 2013
This report is only available as a PDF. Click to download. … OPEC's projections are not the last word on oil prices …
This report is only available as a PDF. Click to download. … We doubt the bull market in Treasuries is over …
29th January 2013
This report is only available as a PDF. Click to download. … Euro may strengthen further by mid-year …
28th January 2013
This report is only available as a PDF. Click to download. … A suspended debt ceiling still leaves Congress divided …
25th January 2013
This report is only available as a PDF. Click to download. … Are “currency wars” about to break out again? …
24th January 2013
The Bank of Japan’s adoption of an explicit 2% inflation target, as called for by the new government, has revived talk of “currency wars”, especially as this new target will be backed up by “open-ended” asset purchases. But looking beyond the rhetoric, …
23rd January 2013
This report is only available as a PDF. Click to download. … Bank of Japan’s timid actions fall short of bold words …
Despite the hype about “bold moves” and “unlimited easing”, the markets have been underwhelmed by the announcements made by the Bank of Japan today. This muted reaction makes sense, as there was little that was unexpected or genuinely new. We anticipate …
22nd January 2013
This report is only available as a PDF. Click to download. … Bold headlines from BoJ, but little new of substance? …
This report is only available as a PDF. Click to download. … Markets buoyed by China’s Q4 GDP numbers …
21st January 2013
