In its budget plans last week, the Indian fiscal authorities announced major tax cuts for households – the equivalent of about US$12 billion, 0.3% of GDP – to boost consumer spending. Soon thereafter, the central bank cut its policy rates…

Following today’s Bank of England’s policy meeting, at which the policy rate was cut by 25 bps, we discuss our outlook for monetary policy in the UK. We expect the gradual easing to continue and discuss the investment implications…

Special Report

This is a follow-up report on Bessenomics – the policy mix that US Treasury Secretary Scott Bessent plans to pursue. The direction of US and global financial markets depends on the amount of fiscal tightening required to bring down…

Jay Powell didn’t say much at this afternoon’s FOMC press conference, and monetary policy will continue to take a back seat to fiscal for the next few months.

In today’s Strategy Insight, we discuss the monetary policy outlook for the Bank of Japan, following the 25-bps rate hike overnight, and what it means for JGBs and the yen.

Special Report

There is no better way to gauge the macro policies of the new US administration than being privy to President Donald Trump’s discussions with the new Treasury Secretary, Scott Bessent. While we do not have inside information, we have…

Today, we publish our Quarterly Model Bond Portfolio report. We review the performance of the portfolio in 2024 and discuss how to best position a global fixed income portfolio following the sharp rise in yields during the last…

Special Report

Our outlook for Fed policy in 2025 discusses our expectations for interest rates, the Fed’s balance sheet and the 2025 strategic review.