Gilt trip

The term ‘bond vigilante’ has been tossed about lately, as fears arise about the sustainability of government debt burdens. The UK, in particular, has been on the receiving end of these narratives. Bond vigilantes are hard to distinguish from normal bond investors who are simply reacting to traditional economic cycles or allocation needs. So, what […]
EM leaders drive fiscal policy improvements

EMD report Q1 2025
All about tariffs

market snapshot
GEMs ESG Materiality, H2 2024

Analysing the cost of climate change
Climate Change High Yield Credit, Annual Report 2024

Fast reading Three years since launch: A retrospective of lessons learnt since inception, including how our Climate Change Impact (CCI) framework has evolved to become more acutely tuned to decarbonisation challenges and opportunities. Performance and investment review: Despite continued market volatility and historically tight spread levels, global high yield was one of the top performing […]
Don’t be distracted by the Fed drama

We want inflation to fall while the economy and labour market remain strong. Everyone deserves this, and it’s the reason the US Federal Reserve decided last week to pause its rate-cutting cycle, leaving the fed funds target range at 4.25-4.50%. But investors in liquidity products have benefited from the elevated interest rates and should continue […]
Finding the balance

Investors seeking to determine a security’s ‘true’ long-term value and to invest in those priced below that value can employ various methods. Some may build dividend discounting models or apply multiples to earnings forecasts. Others may come from the top down, estimating total addressable markets, market shares and profit margins. One commonality these investors share […]
AI start-up rattles US goliaths

market snapshot
European stocks rally despite tariff fears

market snapshot
New sheriff in town

In the run-up to President Trump’s second term, investors have been trying to handicap the potential impact of his fiscal policies on inflation, economic growth, corporate profits, the Federal Reserve (Fed) and financial-market performance. Equity enthusiasm prevailed from early August into early December, as the S&P 500 soared 19% over that four-month period to its 57th […]