Beyond Bulls & Bears

Fixed Income Markets and the US Election: What Really Matters
Fixed Income

Fixed Income Markets and the US Election: What Really Matters

In terms of US monetary policy, on balance we don’t think the election itself will materially impact the path of interest rates unless the economic fundamentals materially reversed. Additionally, the passage of election uncertainty should remove another potential objection to continuing on a gradual tightening path.

Global Economic Perspective: May
Perspectives

Global Economic Perspective: May

The road toward the ECB’s target of 2% inflation will likely be long, but we maintain our belief that the central bank is currently pursuing all of the politically feasible policies at its disposal that can encourage a further revival of economic activity and help achieve that goal.

A More Accommodative Fed
Fixed Income

A More Accommodative Fed

While market consensus currently seems unconcerned about inflation, we know this could change quickly. Longer term, we certainly think higher-than-anticipated US inflation is a potential risk.

Seeing the Silver Lining for Fixed Income in Fed Move
Fixed Income

Seeing the Silver Lining for Fixed Income in Fed Move

As we look ahead to 2016, we finally have entered this long-anticipated rising-rate environment. However, it’s likely to be slow and steady, and certainly not something we believe should cause major portfolio dislocations for fixed income investors.

Global Economic Perspective: May

Global Economic Perspective: May

Although liquidity from the European Central Bank (ECB) and the Bank of Japan will continue to seep into select markets, countries exposed to the US dollar could see bond yields—and hence debt service costs—rise as the Fed tightens policy.

The View From the Fiscal Cliff

The View From the Fiscal Cliff