Get an analysis of important drivers of global fixed income markets, including macroeconomic trends, interest rates, currencies, and credit, in our monthly global strategy report.
In our August report:
- Global macro strategy
We believe developed markets are currently overpricing rate hikes, making the short end of developed market yield curves look attractive.
- Global credit strategy
Emerging markets have become more resilient to external shocks following two decades of reforms. We highlight four countries where ongoing reforms are strengthening resilience amid the recent energy shock.
- Rates and currency outlook
We are neutral on US, European, UK and Australian rates. We are overweight Chinese rates and underweight Japanese rates. We are overweight the US dollar and Chinese renminbi. We are neutral on the Japanese yen and Australian dollar, and underweight the euro and British pound.
- The bottom line
We speak with our Investment Grade Desk about adjusting to less Fed forward guidance, elevated yields, and a sharpening focus on hyperscaler issuance.
