Despite concerns about fiscal sustainability, a rise in term premia, and attacks on central bank independence, monetary policy remains the primary driver of bond markets. In our Q3 Review & Outlook, we update our views and…
Europe’s deflation problem is getting harder to ignore. This week’s ECB cut is just the beginning — tariffs, the euro’s rally, and softening demand all point to more easing ahead. We explain what it means for yields, equities, and…
In the final installment of their “PIGS Have Wings” special series, our European investment strategists took a deep dive into the Spanish economy and financial assets. Spain outperformed most developed markets…
France finds itself in a unique, thorny situation. Can it heave itself out of it? And what does it mean for investors?
France’s and Spain’s preliminary September CPI readings declined on a month-on-month basis, clocking in at 1.5% and 1.7% y/y respectively, and undershooting consensus expectations. Germany’s and Italy’s…
Eurozone GDP surprised to the upside in Q2, growing by 0.3% q/q annualized against expectations of 0.2%. Stronger-than-expected expansions in France (0.3% q/q vs 0.2%) and Spain (0.8% q/q vs 0.5%), as well as steady growth in…