FICC

Our US bond team’s thoughts on this afternoon’s FOMC meeting and yesterday’s CPI release.

Special Report

Our US fixed income team’s key investment views for 2024.

Special Report

In this Special Report, we take an in-depth look at the outlook for monetary policy in Australia and discuss the impact of an elevated policy rate on the economy. We recommend an underweight country allocation to Australian government bonds and look for opportunities to go long the Australian dollar.

Our Portfolio Allocation Summary for December 2023.

Treasury yields will sketch out a range between now and Q1 2024, with the upside determined by inflation and the downside determined by labor markets.

In this Insight, we discuss the outlook for monetary policy in New Zealand after this week’s RBNZ policy meeting, and introduce related fixed income and currency trade ideas.

Special Report

We investigate the recent increase in unemployment with the goal of determining whether it is flagging an imminent US recession.

Special Report

This week’s Special report revisits our TIPS Golden Rule. We provide a 12-month inflation forecast and discuss how it impacts our TIPS view.

Our thoughts on this morning’s CPI print and the bond market’s reaction.

In this Insight, we review the performance and rationale for our current set of tactical fixed income trade recommendations. Our highest conviction positions also happen to be our most successful trades: positioning for a narrowing of the German bund-JGB spread and wider Japanese inflation breakevens.