Our monthly market analysis and positioning
Fundamentals and rate differentials aren’t driving currencies now. Instead their moves reflect the swings in sentiment in global markets.
By: Joern Wasmund
We do not expect much from government bonds for the time being. Our focus remains on corporate and emerging-market bonds.
The U.S. yield curve inverted last August, foretelling the current recession. But its recent steepening does not necessarily indicate that the recession will end soon.
Covid-19 did not put an end to the sectoral imbalances in equities. Late-cycle favorites remain popular. Clearly, this is no regular upswing. Can it last?
By: Thomas Sweeney
The Fed has expanded the TALF program in an effort to improve financing for households and small businesses.
The pattern observed for European government bonds in 2020 is unusual.
While U.S. stocks are back to their pre-crisis levels volatility is not. Surprisingly, stocks and volatility have been moving in tandem for weeks. Time to worry?
As an institution, the European Union is borrowing on a large scale for the first time for its reconstruction fund. This creates opportunities for security-conscious investors.
S&P 500 leverage update: another young vs. old sector split