FICC
One macro framework for rates, FX, credit, and commodities, helping investors connect cross-market signals and position with clarity and conviction.
We assess the investment implications of the BoJ and Fed meetings, and give our take on the next policy moves. We also assess the impact on asset markets.
The Fed kept rates steady today, but teed up an initial rate cut in September while putting more emphasis on the employment side of its dual mandate.
This report takes a look at bond and FX market technical indicators and calibrates the decision to increase portfolio duration and get long the US dollar.
The absence of a catalyst that will boost Chinese steel demand dims the odds that iron ore and steel prices will recover over the coming six-to-nine months. Instead, we expect ferrous metals to face further downside into year-end.
After this morning’s jobless claims number, we have now seen enough deterioration in our preferred labor market indicators to increase portfolio duration from “at benchmark” to “above benchmark”.
We calculate expected returns for several different US fixed income sectors with a focus on how municipal bonds stack up against the investment alternatives.
We review some of the key data releases this week that we find have an impact on our currency strategy. Long yen positions make sense today. Long sterling and the euro bets are more of a judgment call, and we will fade any strength in these currencies. This report delves into these nuances, and suggests a few trade ideas.
In this Insight, we look into the recent CPI release in Canada, and the possible implications for fixed-income market trades.