French fatigue, not a Euro crisis

France has a spending problem for which its political parties have so far offered no solutions. We do not see a euro crisis in this; the markets could even take some of the work off the ECB’s hands.

Americas CIO View

A numerator vs. denominator race at beta, alpha has no style

High-yield bonds under a new rates regime

How risk, valuation and liquidity are evolving in credit markets

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.

Rational Exuberance

2026 may be a good year for risky assets

Tequila sunrise