Unsafe havens? EM bonds come of age

Rising Treasury yields have historically been anything but bad news for emerging-market bonds. In fact, most of the time this has even reduced their risk premium. Don't underestimate them.

Market Outlook | An unusual upswing is gaining pace

The global economy is expected to achieve remarkably high growth in 2021. This is a good basis for the capital markets, but it creates risks and may require reallocations.

Are markets right to be quite so upbeat?

Looking at the divergence between the copper/gold ratio and real yields suggests that some caution may be in order.

CIO View complete

Receive the full comprehensive CIO View in one document

The case for credit remains strong

By: Joern Wasmund

A lot has changed, but readers familiar with our previous annual outlook might experience a strange sense of déjà vu.

Hunt for yield

Given the current increase in Treasury yields, we think investors can probably log in the gap between German Bunds and euro-hedged U.S. Treasury yields for quite a while.