FICC
One macro framework for rates, FX, credit, and commodities, helping investors connect cross-market signals and position with clarity and conviction.
Among the critical materials needed for the global energy transition, Li is expected to see the largest increase in demand from 2022 to 2050. Li supply is not constrained, but continued investment in mining and refining will be required to meet increasing demand. We expect strong Li-ion battery demand in the major economies of the world – the EU, US and China – will keep a bid under Li, and allow growing supply to find a home. At tonight’s close we are getting long the LIT ETF, consistent with our view.
A brief recap of the July FOMC meeting and its investment implications.
This week we preview the July FOMC meeting, provide an update on the Fed’s balance sheet and recommend a new TIPS trade.
In this report, we present our performance review of the BCA Research Global Fixed Income Strategy (GFIS) model bond portfolio for the Q2/2023, and the outlook and scenario analysis for the next six months. The portfolio return exactly matched that of the benchmark index during the quarter, as modest gains on government bond allocations in the US, UK and core Europe completely offset losses on spread product underweights. Looking ahead, the portfolio is positioned to capitalize on an expected slowing of global growth over the rest of the year through an overweight stance on government bonds versus spread product and above-benchmark duration tilts in the US and core Europe.
In this report, we evaluate the breakdown in the dollar and next moves in the DXY, based on fundamentals, historical precedents, and technical patterns over the last few years.
In this report, we evaluate the breakdown in the dollar and next moves in the DXY, based on fundamentals, historical precedents, and technical patterns over the last few years.
The looming risk of an economic downturn, geopolitical risk and inconsistent government policy are feeding commodity markets with volatility, additional to the market specific uncertainty-generating factors. Amidst heightened event-based uncertainty and a possible general economic deterioration, investors will pay more attention and react to events, increasing overall uncertainty levels, which in turn will further fuel commodity price volatility. Commodity producers will be disincentivized from making future supply investments against heightened price volatility and policy uncertainty.
In this Insight, we review the latest Bank of Canada and Reserve Bank of New Zealand meetings, and suggest the appropriate bond and currency strategies.
In this Insight, we review the latest Bank of Canada and Reserve Bank of New Zealand meetings, and suggest the appropriate bond and currency strategies.