Fixed Income

Investment Insights by our experts and thought leaders

2018 Asian Rates and FX Outlook

The global recovery is expected to continue, albeit at a more moderate pace. Meanwhile, we foresee policy normalisation and an acceleration of inflation in Asia.

What lies ahead in 2018 – Thoughts of a Kiwi bond manager

Low global inflation and, until recently, a strong Kiwi dollar have kept New Zealand’s inflation rate low over many years, however things may be about to change.

Asian Fixed Income Monthly Outlook - December 2017

US Treasury (UST) yields declined during the month. The nomination of Jerome Powell as the next US Federal Reserve (Fed) chairman overshadowed stronger US economic data, but was subsequently offset by increased geopolitical risks in the Middle East and a setback to US tax reform.

South Africa at a Crossroads

The imminent party election will be crucial in determining this major Emerging Market’s future.

Canada and Australia are not the same

From an economic perspective Canada and Australia share some common features, but we would caution that the performance of the two economies is substantially different than generalisations would suggest.

Uncertainty in Germany – What are the options?

Even as the situation in Germany to form a new government is difficult, financial markets have reacted very mildly to the uncertainties.

May's Position in Question?

We think it is unlikely that May will be replaced within her own party. This is because there is a lack of an heir-apparent, and the Conservative Party would be extremely reluctant to even slightly increase the risk of another election.

Asian Fixed Income Monthly Outlook - November 2017

US Treasuries (USTs) fell in October, as prospects of higher growth and inflation increased after the US Senate approved the Republican-backed budget for 2018.

New Zealand's New Centre-Left Government Makes for Uncertain Times

Just as politics in other developed countries have recently taken on a more populist and/or anti-capitalist tone, so too has New Zealand’s.

A Pickup in the Chinese Economy – What to watch

To help bridge the gap between the perceived unreliability of Chinese statistics and the importance of analysing the world’s second largest economy, we look for measures which have less potential to be manipulated.