President Trump has sent shockwaves through the global business community with his decision to impose tariffs on steel and aluminium imports to the US. Will this protectionist move prove to be the catalyst for an eventual downturn in global economic growth, and what are the implications for equity and bond markets? Randeep Somel, deputy fund manager in M&G’s equities team, joined me this mornin…Watch the video
In this week’s episode, fund manager Charles de Quinsonas joined me to discuss what the recent bout of market volatility meant for the emerging markets. Were all parts of the EM bond universe equally affected, and where do we see most value today?Watch the video
This morning on BVTV I look at a couple of hot topics we’ve been discussing in recent meetings. Firstly, is it the market rather than the Fed that has been behind the curve? Secondly, in the UK, has the Bank of England’s thinking on Brexit changed in recent weeks? And in both cases, what does this mean for rate hike expectations?Watch the video
With the European economy growing at its fastest pace for a decade – and with Italy itself seeing an impressive return to growth – the uncertainty of an Italian election is something investors will be keeping a close eye on. The country goes to the polls on 4 March, although the outcome is unpredictable with many observers expecting a hung parliament and no outright winner.
To discuss the poten…Watch the video
After a rollercoaster week for equity markets, which saw the VIX volatility index spike to one of its highest ever levels, I’m joined this morning by Craig Moran, fund manager in M&G’s multi asset team. Tune in as we discuss what drove the correction, whether it’s likely to prove a short term risk-off event or a longer-term market reversal, and how much further equities can potentially rally, g…Watch the video
Subordinated debt enjoyed an excellent year in 2017, AT1 (Additional Tier 1) bonds in particular. But what are the unique features of this sub-asset class and do AT1 bonds still offer value? M&G credit analyst Mark Robinson, who focuses on the banking sector, joined me this morning to explain the challenges that today’s tight spread levels potentially hold for investors.Watch the video
Having eventually emerged from the shadow of its lost decades, Japan is currently enjoying its second-longest economic expansion since World War II, having grown for seven successive quarters. John Lothian, deputy fund manager on M&G’s Japanese equity portfolios, joined me this morning to discuss the outlook for the BoJ and what the positive macro-outlook means for Japanese asset prices.Watch the video
This year’s Davos World Economic Forum (WEF) comes at a time where equity and credit valuations look high, where we have “obvious” bubbles in cryptocurrencies, and where bond yields – perhaps an anchor for all financial asset valuations – finally seem to be moving higher. Global borrowing across governments, financial institutions, companies and households is at record levels. Can the global …Watch Video
While you’ve probably heard about President Trump’s success in pushing through a package of tax reforms – arguably his biggest achievement to date – did you know that its requirement for companies to repatriate cash is mandatory? Or, that in most cases this has already taken place? Tune in for this week’s edition of BVTV, where M&G credit analyst Simon Duff gives us the bigger picture of what t…Watch the video
After such a good run for credit spreads in 2017, and a more challenging start to the New Year for government bonds in particular, are we right to be more cautious about prospects for markets in 2018? Fund manager Wolfgang Bauer joins me to discuss what’s behind the recent sell-off in bunds and Treasuries, and what we can read into primary market activity so far in January.
Plus, will the ECB…Watch the video