Beyond Bulls & Bears

EU Delivers Comprehensive Fiscal Rescue Package
Fixed Income

EU Delivers Comprehensive Fiscal Rescue Package

The European Commission has unveiled a sweeping new €750 billion coronavirus fiscal rescue package, including the issuance of new bonds. David Zahn, our Head of European Fixed Income, calls it groundbreaking.

European Fixed Income: Coming Out of Crisis
Fixed Income

European Fixed Income: Coming Out of Crisis

As European economies slowly start to come out of coronavirus lockdowns, it could be some time before growth returns to pre-crisis levels, according to David Zahn, our Head of European Fixed Income. He says the crisis has been another test for the European Union as the coronavirus has affected some countries moreso than others. But he sees this as perhaps the best time in years to invest in European fixed income.

The Impact of the ECB’s Coronavirus Rescue Fund and BoE Rate Cut on European Bonds
Fixed Income

The Impact of the ECB’s Coronavirus Rescue Fund and BoE Rate Cut on European Bonds

This week, both the European Central Bank and Bank of England took further measures to help contain the financial fallout from the coronavirus and alleviate pressure on strained public finances. Our David Zahn, Head of European Fixed Income, shares his views on what it means for European bonds.

UK Budget Ease Follows Coordinated BOE Rate Cut
Fixed Income

UK Budget Ease Follows Coordinated BOE Rate Cut

Newly appointed UK Chancellor of the Exchequer Rishi Sunak tore up the fiscal rulebook and unveiled a spend-heavy UK budget, announced just after the Bank of England delivered an emergency interest-rate cut. Our David Zahn, Head of European Fixed Income, weighs in, noting that the UK government is one of the first to provide a coordinated fiscal and monetary policy response to battle the economic impact of the coronavirus.

What’s Next for European Monetary Policy?
Fixed Income

What’s Next for European Monetary Policy?

David Zahn, Head of European Fixed Income, shares his macroeconomic outlook for the region. He weighs in on why the European Central Bank (ECB) could remain accommodative.

The UK Has Left the EU. What’s Next Post-Brexit?
Fixed Income

The UK Has Left the EU. What’s Next Post-Brexit?

It’s been 3-1/2 years since the United Kingdom voted to leave the European Union, and the process known as Brexit has been far from smooth. Now that the deadline to leave has passed, what’s next for the United Kingdom, and for Europe? Our Head of European Fixed Income David Zahn says that while there’s no turning back, there are still quite a few kinks to be worked out, including the all-important trade agreements.

Leftist Party Win in Italy Regional Election Marks Comfort with Status Quo
Fixed Income

Leftist Party Win in Italy Regional Election Marks Comfort with Status Quo

Italy’s regional election in Emilia Romagna resulted in a win for the centre-left coalition, a development that affirms the long period of leftist rule in one of Italy’s wealthiest regions. Our Head of European Fixed Income David Zahn weighs in on the market implications.

Tory Victory Offers a Boost to UK Market⁠—But for How Long?
Fixed Income

Tory Victory Offers a Boost to UK Market⁠—But for How Long?

The Conservative victory in the UK General Election should bring some relief for UK markets, according to our Head of European Fixed Income, David Zahn. But he warns investors’ attention is likely to turn quickly to how the new government can really “get Brexit done”.

A Look at the UK’s Post-Election Scenarios
Fixed Income

A Look at the UK’s Post-Election Scenarios

The UK general election campaign is entering its final stages. Opinion polls and market sentiment suggest the Conservatives could be on course for victory, but the result is far from being a foregone conclusion. Our Head of European Fixed Income, David Zahn, examines some of the possible scenarios and considers how financial markets might react.

Gilts Under the Microscope as the UK Heads Back to the Polls
Fixed Income

Gilts Under the Microscope as the UK Heads Back to the Polls

As the United Kingdom heads back to the polls, our David Zahn offers some thoughts on the implications for investors.

Brexit: Not the Beginning of the End, But the End of the Beginning?
Fixed Income

Brexit: Not the Beginning of the End, But the End of the Beginning?

Against the odds, Boris Johnson’s UK government appears to have agreed to a deal in principle with the European Union (EU) which could see the United Kingdom leave the EU on October 31 in an orderly way. But David Zahn, our Head of European Fixed Income, cautions against popping the champagne corks too prematurely. There’s still a lot of work to be done, and financial market volatility is likely to remain heightened, he says.

European Political Developments: A Lesson in Unexpected Consequences
Fixed Income

European Political Developments: A Lesson in Unexpected Consequences

Even the most dedicated news-junkie may struggle to keep up with the pace of political shenanigans in Europe in recent weeks. Two countries in which the news has been especially fast-moving are Italy and the United Kingdom. Our Head of European Fixed Income David Zahn notes some peculiar similarities in the way events have unfolded.