How risk, valuation and liquidity are evolving in credit markets
Increasingly, shrinking Eurozone spreads say less about European virtues and more about anxieties in many of the world’s other bond markets.
2026 may be a good year for risky assets
Benign, for now: Our forecasts for the next 12 months
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
Foreign investors reduced their holdings of U.S. assets in April, but only to a very small extent
We believe that fears of JGB weakness spreading to other government bonds appear to be exaggerated.
Cautiously optimistic: Our forecasts for the next 12 months
