Gov Sovereigns/Treasurys
Executive Summary A True Bond Bear Market, USD-Hedged Or Unhedged
A True Bond Bear Market, USD-Hedged Or Unhedged…
Highlights Chart 1Past Peak Inflation
Past Peak Inflation…
Listen to a short summary of this report. Executive Summary Second Fastest Hiking Cycle Ever?
Monthly Portfolio Update: Can The Fed Achieve A Soft Landing? Hint: It Doesn’t Have A Good Track Record…
Executive Summary Summarizing Our Main Investment Themes In One Chart
Summarizing Our Main Investment Themes In One Chart…
Executive Summary A Good Time For A Pause In The Bond Bear Market
A Good Time For A Pause In The Bond Bear Market…
Executive Summary Above Fair Value
Above Fair Value…
Executive Summary The unemployment rate in the US stands at 3.6%, 0.4 percentage points below the FOMC’s estimate of full employment. Historically, the Fed’s efforts to nudge up the unemployment rate have failed: The US has never averted a recession when the 3-month average of the…
Executive Summary The structural downtrend in Chinese bond yields has a lot further to go, because it is helping to let the air out gently of stratospheric valuations in the real estate sector, and thereby preventing a hard landing for the Chinese economy. In the US, flagging mortgage and…
Highlights Chart 1Reduce Credit Exposure
Reduce Credit Exposure…
Executive Summary Our recommended model bond portfolio outperformed its custom index by a robust +48bps in Q1/2022 – an impressive performance given the significant uncertainties stemming from the Ukraine war, surging commodity prices and hawkish central banks. This outperformance came…