Europe

Graph of the week – Volatility in bonds creates opportunities
A flight to safety in the wake of the failure to two US banks led to an abrupt fall in...

Graph of the week – Monetary policy - ECB has further to go than the Federal Reserve
Our graph of the week shows that financial markets continue to price a much higher ECB policy rate a year...

Talking heads – Bonds are back! Investment-grade credit offers yield
The sell-off in bond markets this year has driven yields to levels that merit closer attention, says Victoria Whitehead, senior...

MARKET UPDATE 24.11.2022
Weekly market update – Downshifting in December?
A remarkably rapid tightening of monetary policy by leading central banks has been the dominant theme for financial markets in...

Global loans – Striking while the iron is hot
Against a backdrop of major supply shocks, higher inflation and rising interest rates, most major credit markets have suffered losses....

Talking heads – Carry is king after ‘annus horribilis’ in fixed income
While many bond investors have felt the earth move under the feet this year as the asset class experienced the...

Asset allocation update – European investment-grade upped
Solid financials and attractive market valuations have led us to add to our long position in European investment-grade (IG) bonds,...

What does the future hold for the EU ETS?
Political debate continues on EU emissions trading reforms to help meet the bloc’s emissions reduction targets. Thibaud Clisson summarises the...

MARKET UPDATE 21.07.2022
Weekly market update – Central banks tighten monetary policy
Financial conditions are tightening, with the ECB raising its policy rates for the first time since 2011. We expect the...

MARKET UPDATE 02.06.2022
Weekly investment update – The inflation hinge
Estimates of the level of the US fed funds rate – the Federal Reserve’s main policy rate – in one...

MARKET UPDATE 26.05.2022
Weekly investment update – Weaker economic outlook weighs on markets
Global equities have continued their sell-off over the last week. What is new is that markets are now reacting to...

Asset allocation highlights – Running to catch up with inflation
While markets seesaw on news reports, expectations for the level of central bank policy rates are ratcheting higher as inflation...