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 this edition:
Are developed markets overpricing rate hikes? We believe they are, making developed market short-term yields look attractive.
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.
Overweight: China
Neutral: Australia, Europe, UK, and US
Underweight: Japan
Overweight: Chinese renminbi and US dollar
Neutral: Australian dollar and Japanese yen
Underweight: British pound and euro
The team discusses less US Federal Reserve forward guidance, elevated yields, and a sharpening focus on hyperscaler issuance.
Important information:
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Investment risks:
The value of investments and any income will fluctuate (this may partly be the result of exchange rate fluctuations) and investors may not get back the full amount invested.
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Views and opinions are based on current market conditions and are subject to change.
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