FICC

We assess the investment implications of the BoJ and Fed meetings, and give our take on the next policy moves. We also assess the impact on asset markets.

This report takes a look at bond and FX market technical indicators and calibrates the decision to increase portfolio duration and get long the US dollar.

We review some of the key data releases this week that we find have an impact on our currency strategy. Long yen positions make sense today. Long sterling and the euro bets are more of a judgment call, and we will fade any strength in these currencies. This report delves into these nuances, and suggests a few trade ideas.

US dollar liquidity has been shrinking, which has important ramifications for global asset prices, including currencies. In this report, we delve into the process of dollar liquidity creation and the outlook for currencies over the next six-to-twelve months.

In this week's report, we review the impact of political developments, as well as incoming fundamental data, on our positioning.

Special Report

In this report, we try to gauge how long the exceptional performance of the US can last, but from a more nuanced angle – inflows into US assets and the impact on the dollar and bond yields. Our work suggests that investors should not make any huge bets on the dollar today, but should be short over the longer term (3-5 years). Empirical evidence also suggests you want to be long US bonds into any downturn, relative to global-ex-US duration-matched government securities, but that view becomes less certain if the global economy avoids a downturn in the next few months. What is interesting in this report are high some conviction views across currencies, bonds and precious metals.

We look at the implications a various European central bank meetings this week, for currency strategy.

In this insight, we update our thinking on the recent BoJ move in terms of positioning for the yen and JGB yields.

A short insight on the ECB and near-term implications for European asset markets.

In this insight, we provide an update on the Canadian economy, given yesterday’s rate cut, and implications for Canadian assets.