All Currency articles
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White papersLocal-Currency Frontier Bonds: EMD’s New Horizon
High yields, surprisingly low volatility and strong diversification benefits are attracting investor interest.
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PodcastOuterblue Convictions – Global Investment Views – Narratives of love and fear
After an eventful month trying to keep up with the breaking news, not least the debut of new AI model Deepseek, concerns over Trump’s tariff proposals, coupled with renewed European security concerns, Swaha Pattanaik and Monica Defend, Head of Amundi Investment Institute, sit down to reflect on what all these events mean for the markets.
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White papersShared BRICS money: basket currency or basket case?
There has been speculation that a desire to avoid using the US dollar might encourage the BRICS nations to adopt a gold-backed currency. But there are several questions to ask about such a proposal.
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White papersLocal Currency Bonds: The Next Frontier
Frontier markets are well represented in investors’ allocation to USD markets but not so much in local currencies. This may be changing given growing interest in its strong performance and benchmark providers creating more transparency.
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White papersJapanese Equities in 2025: Goldilocks Would Approve
Japanese Equities: Are the “Lost Decades” Finally in the Rear View?
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White papersEmerging market debt outlook for 2025: Ready for Trump 2.0?
Looking ahead to 2025, the macro environment, in theory, sets the stage for a friendly backdrop in EM, especially given continued disinflation, which should allow most major central banks to ease rates throughout the year. However, the incoming US administration poses several risks to EMs.
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White papersFX reserves and the 10-10-10 proposition
Over the next 10 years the US dollar will likely surrender another 10% share of global foreign exchange reserves – but there will be no single beneficiary, with 10 different currencies all growing their allocations
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White papersWill the equities rally continue in 2025?
Our Equities Outlook 2025 outlines why the Republican sweep in the US election could have wide-reaching implications for stock markets, currencies, commodities and foreign countries.
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White papersThe Dollar and the Euro: On a Path to Parity?
Why we think it could take longer than expected, with better entry points still to come.
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White papersImpact of US elections on emerging market currencies
The results of the US presidential elections in November are set to have wide-ranging implications on the US dollar and emerging market (EM) exchange rates. In this piece, we examine what the outcome of the election could mean for EM currencies, through the impact on tariffs, sanctions, US fiscal policy, unorthodox economic policies and immigration.
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White papersThe Fifth Stage of Pocketbook Grief
Economic data has been resilient, but everyone seems unhappy—will the consumer cheer up in time to avoid triggering a recession?
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White papersCross Asset Investment Strategy - September 2024
Topic of the Month - The JPY carry trade: what’s next?
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White papersThe JPY carry trade: what’s next?
A series of weak US data in July questioned the market narrative of a soft landing and brought back fears of recession. This was the main trigger, although a hawkish surprise from the BoJ undoubtedly added fuel to what turned out to be an unusually sharp unwinding of carry trades funded in JPY. The amount of exposure of these carry trades was at an all-time high due to the low level of overall market volatility and the volatility of the JPY itself. So is it over?
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White papersTime for the Yen to Blossom?
Strong forces still weigh on Japan’s currency, but its long, cold winter may be coming to an end.
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White papersHard and local currency bonds provide different routes to returns
Emerging market (EM) bonds are increasingly becoming a strategic holding for many investors but a key consideration in this is the different attributes of hard- and local currency-denominated bonds — the two broad sets of investments available in the asset class — and understanding the benefits each can bring to a portfolio.
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White papersFixed income: a bull steepener as rates peak?
In past market cycles, yield-curve inversions like the one seen this year have almost always been followed by an episode of bull steepening, when short-term interest rates fall faster than those in the long term. In this issue of Alphorum, we consider the most likely yield-curve scenario from here and how it informs our positioning.
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White papersPlanning for long term success in emerging market debt
The fast-paced evolution of EMD as an asset class necessitates an investment approach that can adapt swiftly. In this Q&A, emerging market debt (EMD) portfolio manager Kirstie Spence discusses how to plan for the long-term success of managing the asset class.
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White papersLocal currency EMD – Why it might be time to reconsider an active allocation
An allocation to emerging market debt (EMD) can offer investors a range of potential benefits in the context of their broader portfolios – not least its low correlation with other sub-asset classes of fixed income. The growth dynamics and strengthening economic fundamentals of many emerging market (EM) countries are attractive to investors seeking growth, income and diversification.
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VideoThe dollar effect on emerging market corporates
Watch to find out what effect the dollar has on emerging market corporates
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White papersHow strong dollar dynamics impacts emerging markets
Years of strong dollar dynamics have had a far reaching consequences for emerging economies, much of it played out in the currency markets.
