In a busy week for central banks, attention will turn on Thursday to whether the Bank of England finally delivers a 25bp hike, having confounded expectations at its last meeting.
Should this prove the case, what impact will it have on the various parts of the UK bond market? I’m joined this week by Matthew Russell, who shares his thoughts on how a rise will affect markets, and whether sterling … Watch the video
While 2018 has been a mixed year for bond investors so far, with many indices posting negative returns, the US high yield market has – perhaps surprisingly – managed to navigate its way through the turbulence. The sector’s intrinsically shorter duration than its investment grade counterpart may explain part of the divergence, but this is only part of the story.
Watch the latest episode of BVTV … Watch the video
Last time I was on BVTV, we touched on how Apple’s market cap is rapidly approaching that of all Europe’s banks combined, prompting me to focus in on the tech sector today, as I try to answer some of the questions that we are most frequently asked by clients. In particular, what are the similarities and differences between 2000 and 2018, and why is momentum (aka hope) currently winning out in t… Watch the video
Toys R Us and House of Fraser are some of the high street names that have faced tough competition from online retailers in recent years. Is the bricks & mortar model passé? Are some industries more resilient than others? And what does this mean for investors? Watch M&G’s Stephen Wilson-Smith explain how a French beauty giant sells more products online than in Latin America and how a US ice-crea… Watch the video
As we have now reached the halfway point of 2018, it seems like a good occasion to take stock and see whether the year has lived up to consensus expectations so far. With more news surprises and volatility so far than in 2017, how do the market’s predictions for which asset classes would perform best look today? Watch the latest episode of BVTV as I review year-to-date returns and look at why t… Watch the video
We have already seen several corrections in credit markets so far this year, providing a good opportunity to analyse these episodes from a volatility perspective to see whether they have created good entry points into previously expensive markets. Finding a good entry point is just the first step though. Next, we must consider whether cash bonds, or CDS, look more attractive.
Tune in to this we… Watch the video
The combination of the US-North Korea summit, crucial Brexit negotiations in the UK, mounting trade tensions, and a raft of central bank activity led some commentators to forecast that this would be the biggest week of the year. In fact, the beginning of the week was rather underwhelming, and it took a dovish ECB to really move markets. See how it all unfolded on today’s episode of Bond Vigilan… Watch the video
Emerging market currencies have been back in the spotlight in recent weeks after significant repricing – so it seems like a good time to lift the lid on how we think about currency trading. While there are many different aspects to take into consideration, there are three key factors – carry, valuations and fundamentals – that we keep front of mind.
With lower returns from bonds in recent years… Watch the video
While political instability is nothing new for Italy, last week’s developments have triggered major market moves. The 10-year Italian government spread to Bunds jumped to as high as 288bps last week, which is an impressive move if you consider that investors were only asking for a risk premium of 122bps at the beginning of the month. Despite a rebound in markets towards the end of the week, the… Watch the video
After a significant policy error at the end of last year, Argentina has once again found itself in trouble – and back in the headlines – in recent months, suffering from dented credibility and a fast depreciating peso. This morning on BVTV, I look at whether current levels now offer a buying opportunity.
Also this morning: what’s behind EM FX market weakness, and is it actually a US dollar sto… Watch the video