Powell takes a stand
On Sunday we learned that US prosecutors had launched a criminal investigation into Federal Reserve Chair Jerome Powell about his testimony before Congress last summer over a US$2.5bn renovation of the Federal Reserve’s headquarters. In response, after years of de-escalation and professionalism, Chair Powell released a strong and straightforward video where he characterised the subpoenas […]
Liquidity solutions built for today’s money market landscape
We’ve been hearing a lot about qualifying money market funds recently. Why is that? According to the FCA, qualifying money market funds are UK UCITS. Potential investors – particularly those managing client money under FCA client money rules – are looking to place funds into money market products to achieve higher yields, diversify counterparty risk, […]
Treasury yields reflect a curious equilibrium to start the year
As we begin the new year, actual and implied volatilities in the US Treasury market have fallen to four-year lows, returning to levels that were common before the pandemic. Of course, the last four years included a number of disruptors: the inflation surge to multi-decade highs; the Federal Reserve’s (Fed) rapid tightening to suppress inflation; the Silicon […]
Market Snapshot
Venezuela shock puts oil in focus
Meet the Manager: Nick Tripodes
My name is Nick Tripodes, and I’m a Portfolio Manager and Head of the Low Duration Structured Products team. We are responsible for all portfolio management of active cash and low duration products, and investment research and structured products including asset-backed securities (ABS) and commercial mortgage-backed securities (CMBS). How have you seen the firm evolve […]
GEMs ESG Materiality, H2 2025
Fast reading To illustrate our approach to climate-adjusted valuations in more detail, we share our assessment on TSMC, the Taiwanese semiconductor group facing climate-related cost pressures from carbon taxes increasing electricity and raw material costs. We also provide our reflections from COP30, having been on the ground in Brazil, attending COP Finance events and engaging […]
Maintaining momentum
The last few years have been remarkable for stable value investments. Even as the Federal Reserve (Fed) has pivoted to easing rates, assets in liquidity products have marched steadily upward. Depending on your sources, which all calculate it differently, total industry money market fund assets hit record highs in 2025. How investors view money funds […]
Inside the Fed’s rate cut: The Fixed Income view
Read More Watch now Listen now Read More Watch now Listen now Read More Watch now Listen now Robert: Big movement yesterday1 with the Federal Reserve (the Fed). Rates are always a huge topic in our business. Walk us through what happened. RJ: I don’t think the Fed surprised anyone yesterday. Markets were well-prepared for […]
Global SMID Equity Engagement*, Q4 2025 case study
Credicorp
Why our improved credit outlook explains tight spread levels
360°, Q4
