Yields spike, costs lag

Markets can reprice JGBs overnight, but the real fault line between volatility and vulnerability is when the effective interest rate surpasses growth

Will there be a U.S. debt crisis?

A look at the risks that the U.S. debt trajectory could become dynamically unstable

Why U.S. growth is likely to slow

At least in terms of its demographic outlook, the U.S. is already well on its way to becoming far less exceptional than it was just a few years ago.

When businesses stop investing

So far, Trump’s tariff threats are mainly harming sentiment. That could change quite quickly, in ways that would be hard to undo or mitigate.

What do falling Chinese yields tell us?

The bond market sees the convergence of Chinese and Japanese yields as a warning of potential 'Japanization' in China

Weakening dollar, the start of a trend?

Despite recognizable parallels with developments under the 1985 Plaza Accord, concerns about a very rapid and excessive decline in the U.S. dollar seem exaggerated.

Value vs. Growth

By: Björn Jesch

Strong performance of the "Magnificent Seven" has pushed value stocks into the background - wrongly so?

U.S. unemployment steady, nerves frayed

A widening gap between official data and worker sentiment points to the power of technological anxiety.

U.S. small caps: Ready for a comeback?

Have small caps seen a weak decade, or were large caps simply off the charts?

U.S. real yields: Is the trend turning downward?

Whether or not there will be a reversal in the trend depends on the development of long-term inflation and whether the Federal Reserve manages to maintain its credibility

U.K. Gilts in PAIN

Yields on U.K. sovereign bonds have surged to levels not seen since the Great Financial Crisis and the Sterling too is struggling

Turbulence in the Japanese financial markets

Years of overly loose fiscal policy have sent Japanese bond yields soaring. Increased volatility is here to stay.

Time for Multi Asset

By: Vincenzo Vedda, Peter Warken, Henning Potstada

After years of minimal interest rates, investors have been piling into money-market funds since 2022 to take advantage of higher rates. Now is the time to rebalance and diversify.

Tight by comparison

Increasingly, shrinking Eurozone spreads say less about European virtues and more about anxieties in many of the world’s other bond markets.

The worrying 'K' on the U.S. stock market

The operating profits of the S&P 500 and overall economic profits are decoupling