Beyond Bulls & Bears

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An Unconstrained View of Corporate Credit Amid the Rate Debate

In general, free cash flow for a lot of companies remains fairly robust and that helps to support the corporate credit outlook at least over the balance of the year, in our view.

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European Bank Stocks: Time to Buy, or Bail?

A gradually improving economic outlook, conservative loan underwriting and the potential for write-backs from existing non-performing loan provisions should support a recovery in European bank equities.

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Global Economic Perspective: August

With the pick-up in the US economy leading to increased talk of policy normalization there, but monetary easing still the order of the day in the eurozone, we believe there could be some yield divergence between US Treasuries on the one hand and European (and Japanese) benchmark bonds on the other.

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A Strengthening Case for European Bonds

Although the pace of economic improvement in the eurozone is slow, there is at least some growth. We are optimistic about the prospects for fixed income investing in the region—perhaps more than many other areas of the world.

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A Mid-Year Crossroads for US Equities?

I don’t necessarily see low levels of volatility as a problem. There have been extended periods of very low volatility, such as in the early to mid-2000s and early to mid-1990s, when the equity market continued to do well.