Dollar, Oil And U.S. Investment Strategy

Currency and commodity markets are having overdue technical countertrend moves after moving a long way in a short period of time. “One-way bets” are over. Price moves in the other direction will be violent given the crowded nature of these trades, but … [More.]

JAPAN: Structural Reforms In Focus

Wondering about the status of the third arrow – structural reform – of Abenomics? Today, we are pleased to offer an update on what the next eighteen months could bring in Japan. By obtaining an electoral mandate from voters, PM Shinzo Abe, wil … [More.]

It’s All About The Yield Now

Even more of the global bond market will fall into negative yield territory, galvanizing the intense search for positive returns. The implication is that the traditional framework for projecting relative returns across sovereign bond markets based on … [More.]

Euro Area Growth: Current Consensus Is Too Low

Regardless of the ECB's actions last week, four forces are coming together that will lift euro area growth over the next two years to a level that is well above the current consensus of 1.1% for 2015, and 1.6% for 2016. Diminished Fiscal … [More.]

Bond Shortage

Our Global Fixed Income Strategy service estimates that the flow of new Treasurys, JGBs and Eurozone Bonds to the private sector will contract by an average of almost €200 billion in 2015 and 2016. The stock of bonds from these key issuers w … [More.]