Author profile

Pierre Chartres

Years in the bond markets: 9

Specialist subjects: Macro economics and European credit

Likes: football, skiing, golf, Skysports (everything except the F1 stuff), French Basque Country

Heroes: Chesley Sullenberger, Felix Baumgartner

A pretty good indicator of USD/EUR exchange rate movements

After four calendar years of price appreciation, it looks like the US dollar will end 2017 deeply in negative territory. The dollar has fallen by almost 12% this year versus the euro and around 8% on a trade weighted basis. More surprisingly, the sharp depreciation of the dollar against the euro has occurred in a period when central bank policy has diverged, resulting in the yield differential …

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BVTV: deciphering the differences between green bonds, impact investing and ESG

Richard Sherry, fund manager in M&G’s institutional fixed income team responsible for impact investing, joined me for this week’s edition of BVTV to talk through an area of the market that has been rapidly gaining attention. Richard unpicks the terminology to explain the differences between the various approaches and offers his view of how the market will likely develop – and what this will mea…

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BVTV: another car crash for the auto sector

Last week was a particularly busy week in the earnings season calendar, but has sentiment for the auto sector been dampened by the latest revelations in Germany’s Der Spiegel magazine of how car manufacturers colluded over diesel emissions treatment systems?

Wolfgang Bauer joins me for an auto sector special this week on BVTV, where we discuss the latest scandal, plus the impact of the further …

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BVTV: The only certainty is more uncertainty

While last week ended with British prime minister Theresa May promising to provide ‘certainty’ after yet another shock election result, for markets, the opposite looks likely to be true. And with the renewed uncertainty of a hung parliament likely to prove unhelpful in upcoming Brexit negotiations, what implications can markets draw for UK growth prospects and the likely direction of gilts? Tun…

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BVTV: Relief rally gets new legs on Macron victory

EU 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.

Tune in to…

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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…

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