Monetary Policy

2025 Q4’s mantra is 'Bringing It Home,' reflecting strong global corporate bond performance driven by carry and duration. Looking ahead to 2026, alpha generation may become paramount as markets shift focus from beta.

Keeping cool as rate cuts resume and flows are strong.

Maintenant que la Fed a opéré la baisse de taux tant attendue par de nombreux investisseurs, qu’est-ce qui alimente cette sensation d’accélération ? Le dernier Investors’ Outlook analyse les tendances récentes et règle le rétroviseur pour mieux se concentrer sur la route qui s’ouvre devant nous.

Découvrez le rôle des taux d'intérêt dans l'économie et leur influence sur le rendement des placements.

Stablecoins are emerging as significant players in U.S. debt markets, linking digital assets to sovereign bonds. As this $200 billion market expands, its influence on liquidity, auctions, and monetary policy is becoming systemic, signalling a transformative shift in the intersection of technology and traditional finance.

What impact could Trump's tariff policies have on the global economy? Our experts analyze the effects in the livestream.

The turbulent start to 2025 has sent many investors seeking alternatives to US assets, but in our view European fixed income can offer more than just diversification.

Softer US economic data means the pressures on UST yields now look more balanced, but headlines around President Trump’s pick for the next Fed chair are just one reason investors should expect rates volatility to continue.

Recent market volatility has reinforced the value of alpha over beta. While markets rebounded from recent lows, risks persist – from uncertain trade policy to concerns about debt sustainability. But fixed income remains resilient. We are finding opportunities in local currency EM debt, US high yield, and European investment grade credit.

The US dollar’s reign is faltering, and we believe a prolonged dollar bear market is underway – a scenario that has historically been a tailwind for emerging market economic growth and asset valuations. However, not all emerging equity markets respond equally to the dollar’s decline.

The question for investors now is how much of the macro risk remains, and how well that risk is being reflected in asset valuations.

Donald Trump imposes steeper-than expected reciprocal tariffs on US trading partners. The Multi Asset Boutique neutralizes its US equity overweight in light of the uncertainty.