Despite seemingly a multitude of worries over the potential for a slowdown in US growth, the growing signs of weakness in Japan, the arrival of an industrial recession in Europe and the uncertainty over BREXIT, financial markets have arguably performed remarkably well over recent months.
Our Singapore-based Fixed Income Portfolio Manager details the reasons for ASEAN’s recent rebound and why such should continue.
Although the current polls do not indicate a clear majority outcome, in this piece we will examine some of the issues that may cause sentiment to shift towards a Brexit, and what the UK leaving the European Union might mean for the UK and EU economies post breakup.
While a recession in the US is not our base scenario, the impact of such an event on credit exposure is worthy of consideration. In our historical analysis we've found that the driver of past recessions can provide important insight into which credit maturities are most attractive.
US monetary policy grows less independent as 2016 unfolds and risks to global growth abound in a rebalancing China, a deflationary struggle in Europe and whispers of a Brexit.
Our global strategist sheds light on how corporate profit margins are reflecting the continuing improvement of corporate governance in Japan.
We suspect that many market participants have viewed the major central banks’ various “extraordinary measures” that have been adopted since the financial crisis of 2007-8 as having been a good thing. Therefore they have perhaps – or most probably – been wrong-footed by the markets’ rather negative reaction to the promises of yet more QE / negative rates / more monetary experiments.
Our Global Credit staff in London detail their rationale behind concentrating on service sector exposure globally.
Volatility can provide excellent buying opportunities. Something which gets overlooked in the 'noise' of markets.
Our global equities team in Edinburgh explains their views on the prospects for their asset class.