All Currency articles
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White papersUK Leadership Change: Economic and market implications
After the resignation of Boris Johnson as prime minister, what is your outlook regarding British political development?
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White papers
Renminbi’s rise will not challenge dollar dominance
A sharp economic slowdown seems to be looming in both Europe and the US, which would make bond markets attractive again, especially in the US. Conversely, the Chinese economy is expected to reaccelerate. International monetary system set to become multipolar as geopolitical factors are likely to prevail.
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White papers
Harvesting Growth, Harnessing Change - Monthly Insights: Asian Equity (June 2022)
Fears of a recession and the US CPI hitting a four-decade high of 8.6% yearon-year (YoY) in May rippled through various economies. Asian markets took heed from the multiple headwinds in the US, with inflation being a common theme across the region. For the month, the MSCI AC Asia ex Japan Index fell by 4.5% in US dollar (USD) terms.
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White papers
The ECB’s Trilemma
Are we seeing the start of another eurozone crisis, or can the ECB fashion an effective tool to manage volatile southern European bond spreads?
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White papers
Performance Insights - Local currency edition
Equities and corporate bonds fell further in June, deepening first-half losses, as investors repriced for higher-for-longer inflation, a synchronised central-bank tightening cycle and high risks of recession. Few industry sectors were spared in the Q2 sell-off, with energy, defensive and Value stocks holding up best. The US dollar extended its broad-based rally.
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White papers
Performance Insights - GBP edition
Equities and corporate bonds fell further in June, deepening first-half losses, as investors repriced for higher-for-longer inflation, a synchronised central-bank tightening cycle and high risks of recession. Few industry sectors were spared in the Q2 sell-off, with energy, defensive and Value stocks holding up best. The US dollar extended its broad-based rally.
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White papers
Performance Insights - USD edition
Equities and corporate bonds fell further in June, deepening first-half losses, as investors repriced for higher-for-longer inflation, a synchronized central-bank tightening cycle and elevated risks of recession. Few industry sectors were spared in the Q2 sell-off, with energy, defensive and Value stocks holding up best. The US dollar extended its broad-based rally.
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White papers
Stock-Bond Correlation: A Global Perspective
The correlation between stock and bond returns has been reliably and persistently negative for the last two decades across Developed Markets (DM) – matching the US experience. During this regime, stocks and bonds have hedged one another, dampening overall portfolio risk for a given level of equity allocation.
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White papers
The ECB Joins the Growing Circle of Hawks
The ECB officially joined the hawkish camp, announcing a more aggressive path of rate hikes, which led markets to reprice the euro curve higher. Meanwhile, despite a move higher in initial claims, a strong U.S. jobs report will keep the FOMC on its hawkish rate-hiking path.
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White papers
JPY: Structurally weak, cyclically blessed
Structural headwinds are strong for the yen, setting a fundamental background for the currency to stay weak. Yet a recessionary environment is a cyclical blessing – peaking growth and rates prove that the JPY is among the cleanest diversifiers – and officials may have lost their appetite for currency devaluation.
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Podcast
Mythbusting Crypto Investing
Cryptocurrency, or crypto, the so-called “wild west” of Wall Street, has been raising eyebrows for quite some time now. Since 2013, there have been over 12,000 different types of coins generated, leaving many wondering what is actually reliable in this market.
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White papers
A fireside chat about the renminbi – How far will it fall?
In recent weeks, the renminbi has depreciated significantly against the US dollar. Chi Lo, our senior market strategist in Hong Kong, explains what is happening and give his outlook for the Chinese currency.
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White papers
A fireside chat about the Hong Kong dollar as it revisits 7.85
For the first time since 2019, the Hong Kong dollar (HKD) has fallen to the lower end of the Convertibility-Undertaking threshold, under which the Hong Kong Monetary Authority limits the currency’s trading range against the US dollar. Chi Lo, our senior market strategist in Hong Kong, explains what is happening and discusses the mechanism in place to sustain the Hong Kong dollar peg.
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White papers
The Great Wave of Yen Weakness
Templeton Global Equity Group highlight that the weaker Japanese Yen is thought of as positive for Japanese businesses with a high degree of exports, but it may not necessarily be as beneficial as many think.
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White papers
The Dollar U-Turn
The USD has been on quite an impressive journey over the last couple of years, with clear but different market drivers characterising its moves. Since last summer however, the path has been relentlessly higher, finally breaching the Covid highs in recent weeks.
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White papers
War Distress Hasn’t Derailed Western Growth Yet
The U.S. announced a new list of penalties against Russian elites, lawmakers, and entities, and there are discussions about imposing sanctions on Russia’s gold reserves—though not yet passed. Meanwhile, the EU and G7 are expected to announce further restrictions on business in Russia.
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Video
Digital Assets: The intersection of markets and policy
Professor of finance at Georgetown University’s McDonough School of Business, Dr. Reena Aggarwal, predicts an explosion in digital assets as more countries move and adopt central bank digital currencies.
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Video
Digital Gold: Picking the winners and losers through diversified index like exposure.
Craig Salm is Director, Legal at Grayscale Investments, holders of the world’s largest bitcoin trust and the trusted authority on digital currency investing. Discussing a broad range of financial services, Craig expands on decentralized exchanges, yield farming, governance, lending platforms, payment gateways and much more.
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Video
Big Tech vs the Central Bank: The race for digital currency
MIT’s Media Lab Director of the Digital Currency Initiative, Neha Narula, joins us in the latest discussion of our series FTSE Russell Convenes. Neha shares her thoughts on how the advancing technologies around cryptocurrencies like Bitcoin and Ethereum is placing pressure on central banks.
