High-yield bond indices are on track for their worst month since January 2016 How worried should we be? … More Risky business?
The ECB pulled out the big guns last week, including an extension to its quantative easing programme to encompass corporate bonds. The impact on the investment grade market has been immediate and dramatic, increasing fund flows, lowering spreads and creating record demand. But even amidst this renewed passion for Eurobonds, one issue got left behind … More Central banks, corporate bonds and the growing growth dilemma
What a start to 2016! Bear markets, $28 oil and talk of further easing and even US recession! Markets are probably over-reacting, but – as we’ve said before – this is what happens when investors wander along the yield curve to unfamiliar places. They get spooked when it gets dark and make monsters out of … More When we said there’d be trouble…
Takeaways: D-Day rapidly approaching for Greece as time is running out to agree a deal with its international creditors, secure the release of badly needed bailout funds and avoid defaulting on its obligations. Rumours are rife that the Syriza government is preparing to take the dramatic step of declaring a default. The country is rapidly … More Time running out for Greece
Takeways: The impact of dollar and oil trends on divergent emerging markets caught our eye this week. A timely reminder to check and update plans for different geographies and sectors and realign strategies. As with so much these days, past performance is no guarantee of future growth. Although some things don’t change: Greece is the word … More Crude dollar shakedown