Latest Insights
Volatility challenges: time tested thoughts on navigating unsettled markets
Timely thoughts for investors to deal with today’s key challenges.
The UK’s dovish turn: The £ gets pounded
The Bank of England’s May meeting has stoked recession and stagflation risks, and a more measured approach to tightening.
China’s trilemma and the renminbi’s fall
The renminbi’s resilience has faltered as appetite for Chinese assets has turned. What does this mean for China’s markets as the country faces a rekindled policy trilemma?
The fog of war: a multi-asset view
Paul O’Connor, Head of the UK-based Multi-Asset Team, considers the prospects for financial markets over the next few months, as investors contend with market uncertainty around central bank hawkishness, the war in Ukraine and lingering Chinese concerns.
A tale of two hikes
Two central banks both have clear intentions to hike interest rates. So why the difference in tone?
Another step towards policy tightening – with a caveat
Cautioning against classifying the Fed’s interest rate ‘liftoff’ decision as being unequivocally hawkish.
The balancing act: navigating central bank policy divergence
The challenge for central banks has grown more complicated with volatility in bond markets and mounting inflationary pressures. Investors face a similar balancing act in navigating the central bank policy divergence that is set to characterise 2022 and beyond.
‘Swissie’ causing headaches for its central bank
The Swiss franc is on an appreciating trajectory versus the euro. What can the central bank do to stem the rise?
Central banks up the tempo as inflation worries persist
We are seeing a pivot in central bank policy, notes Global Bonds Portfolio Manager Andrew Mulliner, following the BoE and ECB meetings on 3 February, as markets price in a policy error in the UK.
Will Japan join the tightening party?
The inflation narrative in Japan is shifting to focus on upside risk. Portfolio manager Ales Koutny considers whether Japan could join other developed market peers in the exit from accommodative policy.
Strategic Fixed Income: Central banks in 2022 – making long bonds great again
Co-Head of Strategic Fixed Income Jenna Barnard outlines how the team’s cyclical process for managing bond exposures is signalling a collapse in US government bond yields around springtime.
High yield in a rising rate environment
Brent Olson and Tom Ross, corporate credit portfolio managers on our Global High Yield platform, explore how factors affecting credit risk in high yield might help balance upward pressure on interest rate risk.