Join me, Laura Frost, on BVTV to discuss the political uncertainty surrounding the Trump presidency and Brazilian leader Michel Temer.
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The last time the US had an unemployment rate below 5% and inflation expectations around 2%, the Fed funds rate was above 5% and had been aggressively hiked in the preceding period. Yellen’s Fed has been happy to let rates stay low amongst a tight and tightening labour market because wage growth has been lower than one would expect for a jobs market as healthy as this one. So, slow growth of wa…
Read the articleThe Eurovision song contest may be over for another year, but Europe’s capacity to surprise could well continue. Tune in to the latest edition of BVTV, where Anjulie Rusius joined me to discuss:
European investment grade (IG) corporate bond spreads are now more than 40 basis points tighter than in early March 2016, before the European Central Bank (ECB) announced the expansion of its quantitative easing programme into the € IG corporate bond space. The technical tailwind provided by monthly bond purchases to the tune of around €7.5 billion from June onwards under the ECB’s corporate se…
Read the articleThere are a lot of misconceptions about defaults in emerging market (EM) debt. Too often, EM corporates are either considered ‘serial defaulters’ compared with their developed market peers, or seen as a single and homogeneous geography. In reality, default rates follow economic cycles, and having a regional, if not country, approach to default risk remains paramount due to different jurisdictio…
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I have to be honest here. Even though we sponsor it, whenever I go to the Chelsea Flower Show I am reminded of bleak Sundays being dragged around garden centres as a child, hoping there is at least a pets section with some rabbits or something in it. Or some swings. Nevertheless, many people love flowers and plants.
So, in support of CASCAID, the UK asset management industry’s effort to rais…
Read the articleEU officials are breathing their latest sigh of relief this morning, after French voters opted for centrist candidate Emmanuel Macron over far-right rival Marine Le Pen in yesterday’s second round presidential elections. Markets will now turn their attention to whether the incoming president can assemble a parliamentary majority without the benefit of an established party behind him.
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Though the recent US Treasury report did not name any country as a currency manipulator (see more details on this in Mario’s blog), the monitoring list centres on larger economies that meet the following criteria:
Last week, the U.S. Federal Communication Commission (FCC) announced the results of the latest $20 billion, 600Mhz spectrum auction. Communication companies were bidding for spectrum over which they provide wireless services to their customers. The largest bids came from wireless mobile operator, T-Mobile USA, which spent $8 billion, and U.S. satellite TV provider DISH Network, which spent $6….
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