Monetary Policy

What can we expect from central banks this week? Felipe Villarroel looks at how recent CPI prints in the Eurozone and in the United States are expected to influence upcoming central bank monetary policy decisions.

What have we learnt from the ECB’s Consumer Expectations Survey? Felipe Villarroel discusses how latest changes in the consumer’s expectations of the economy reflect that the ECB’s monetary policy is actually working.

In recent weeks the US debt ceiling has been dominating headlines with investors focused on the imminent threat of a US default which would be extremely unnerving for global markets. We look at the wider implications facing the US economy.

Low interest rates, declining tax rates, and constrained wages contributed to margin expansion for large US companies over the past decade. Companies whose growth is driven by these temporary factors may be more vulnerable in tough conditions, while quality companies with structural growth drivers designed to succeed in all conditions may prevail.

Inflation may be like gum on your shoe – annoying and, above all, hard to remove. Sticky inflation is a scenario that has been in the cards for quite a while already but now seems to receive more weight as a probable outcome. There are six reasons for this display of stubbornness which may disappoint those who thought inflation would come off easily.

With 2023’s rally halted by the Fed’s hawkish messaging, Felipe Villarroel questions whether markets read the recent jobs data correctly and looks at what it means for terminal rate expectations.

2022 was a stormy year for bonds. As 2023 gets under way, our Fixed Income Boutique heads predict whether bonds are set for a smooth touchdown or a bumpy landing amid the continuing headwinds in the global economy.

High yield markets entered the year at an attractive entry point and investors can enjoy the power of high carry with still solid credit fundamentals. Turning the page on a challenging 2022, the Global High Yield Bond team is hopeful 2023 will be a fortunate year for many things, especially income.

TwentyFour Partner and Portfolio Manager, Douglas Charleston, describes the developments of the ABS market in Q4 2022.

A member of our Multi-Sector Bond discusses market conditions in Q4 2022.

Welcome to 2023! At the start of the new year, bonfire rituals across the globe celebrate the time for renewal. Our Global Corporate Bond team have evaluated perspectives for the market by asking themselves the ten most burning questions for the year ahead – and finding the answers.

Following a difficult and volatile 2022, there are sound reasons to believe that EM equities could deliver a strong rebound in 2023. Along with compelling relative valuations of EM equities, we identified three key cycles that have the potential to provide a positive boost to EM equities next year.