Tag Archives:

Panoramic

2018: The end of the (QE) affair

Well, at last it has happened. Ten years after the global financial crisis began, we have reached a place where synchronised global economic growth is more than just a pipe dream and the prospect of central banks moving away from their extraordinary ultra-loose monetary policy stances of the last decade is finally a reality.

There has been much excitement in recent months about the robust and b…

Read Panoramic Outlook

M&G Bond Vigilantes 2016 Macro Outlook by Jim Leaviss

The weather has turned cold, the nights are drawing in and the Christmas lights have been turned on. Not only does the holiday season herald the return of a fat man in a red suit, it is also time for the annual M&G Bond Vigilantes Macro Outlook. Inflation is low, bond yields are negative and global growth is slowing. But things are about to change. The central bank of the world’s largest econom…

Read the article

Global bond market outlook 2016

There was, and will be, divergence

It’s not felt like it somehow, but 2015 has been a bear market for US and UK government bonds, with yields up around 20 to 30 basis points (bps) at most maturities. In stark contrast, European bonds have made new record lows this year – initially as the European Central Bank (ECB) announced quantitative easing (QE) and cut interest rates to negative levels, b…

Read Panoramic Outlook

Jim’s outlook for 2013. Eurozone volatility, poor emerging market debt valuations and a sterling collapse. Merry Christmas!

It may not have felt like it, but 2012 has actually been a pretty good year for investors. Bond holders in particular have had a decent 12 months: the government bond bull run has continued and investment grade and high yield corporate debt appears on track to deliver some excellent returns. Major equity markets also look likely to end the year in the black.

These broad-based gains on global st…

Read the article