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e-CNY: slow burn to rapid acceleration?
Jennifer James, Emerging Market Credit Portfolio Manager, explores how the People’s Bank of China’s digital currency has been several years in the making but has the potential to rapidly reshape the payments industry.
Global slowdown on track, is real money growth bottoming?
Economic growth is likely to disappoint in H2 2021 but Chinese policy easing could contribute to a recovery in global real money expansion, improving prospects for H1 2022, argues Simon Ward, Economic Adviser.
Great expectations in inflation
Inflation is front of mind for investors. In this paper, portfolio managers Helen Anthony and Andrew Mulliner consider whether it is permanent or transitory.
A “monetarist” perspective on current equity markets – July 2021
Global monetary data surprised negatively in Q2, suggesting dimming economic prospects unless China eases soon, argues Simon Ward, Economic Adviser.
Rising interest rates, inflationary regimes and CTA returns
Diversified alternatives portfolio managers Andrew Kaleel, Mathew Kaleel and Maya Perone discuss the impact of rising rates on traditional asset classes and trend-following strategies.
UK inflation forecast update: more upside surprises in H2
The Bank of England is facing an inflation headache despite help from a basket reweighting distortion, argues Simon Ward, Economic Adviser.
Chinese corporate liquidity squeeze suggesting darkening outlook
Weak May monetary data strengthen the case for early PBoC policy easing, argues Simon Ward, Economic Adviser.
Forecasts can fall short; humility and diversity are key
While forecasting interest rates is difficult, humility, diversity and careful portfolio construction may help improve risk-adjusted returns.
Opportunities and risks in a multi-speed recovery
Global Bonds Portfolio Managers Dan Siluk and Jason England explain how an asynchronous global recovery should lead to dislocations and opportunities in fixed income markets.
Credit market’s brave new world
Can corporate bond markets sustain their improved trajectory as support measures are lifted?
Dystopia 2.0? Assessing the post-COVID landscape
COVID-19 propelled the pace of structural change around the globe. What will the world look like going forward?
Are medium-term inflation risks receding?
High inflation is more than “transitory” but monetary developments suggest that the medium-term outlook has improved, argues Simon Ward, Economic Adviser.