All Currency articles – Page 7
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White papersLetters from Zambia and Kenya
PGIM Fixed Income’s Lead CEEMA Economist Giancarlo Perasso provides an on-the-ground look at the economic conditions in Zambia and Kenya following a recent trip to Africa.
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White papers
2019 long-term capital market expectations
We believe the global growth outlook is improving, supported by fiscal stimulus around the world, the pro-growth policies of the incoming US administration and stabilized growth in China. We also see inflation hovering in the moderate zone for the next five to 10 years.
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White papers
FX Options Skews: Economics and Implications
Are FX options skews a useful indicator of whether a currency will rise or fall against the U.S. dollar? We looked at some out-of-the-money puts and calls.
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White papers
Top trends in 2019 – Infrastructure Outlook
This paper focuses on three key themes in Europe and North America to help investors navigate portfolio allocation decisions.
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White papers
Trade Deals and Political Realities
Could the USMCA accord among the US, Canada and Mexico, and a potential US-China trade deal get approval from the Democrats-led House of Representatives?
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White papers
Brexit Do-Over?
Will Prime Minister Theresa May’s proposal win the day for Brexit or will there be another referendum? The British pound is caught in the middle.
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White papers
Trading U.S. Money Market Spreads with SOFR, Fed Funds, and Eurodollar Futures
Learn about using short-term interest rate (STIR) futures as an efficient tool for trading basis spreads between U.S. Money Market rates.
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White papers
Hedging Repo Exposure in the Treasury Basis with One-Month SOFR Futures
Learn how CME One-Month SOFR futures can be used as an effective tool for hedging Treasury overnight repo exposure.
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White papers
Big Challenges for Equities, Bonds and FX Markets
A series of challenges, from the debt ceiling to Fed quantitative tightening to Brexit, will be confronting a variety of markets.
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EM Debt: Navigating a Shifting Macro Backdrop
After a rocky 2018, the picture may be brightening for emerging markets debt. From rising rates to trade wars, some of last year’s headwinds look to be receding, at least for now. Barings’ Ricardo Adroguè and Omotunde Lawal highlight opportunities they’re currently seeing.
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White papers
Fed to End Diet
The Fed’s program to shrink its bloated balance sheet post-quantitative easing is drawing to a close earlier than planned as liabilities pose constraints.
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White papers
India: Rupee Faces Significant Risks from April Elections
Indians go the polls in April to elect a new leadership. Can Prime Minister Modi’s party win an outright majority or will India have a coalition government?
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Market Perspectives - Patience is a virtue
Sunny spots are rare this winter. Economic data in in Europe and China have continued to underwhelm. Key euro area indicators including PMIs, Ifo and Sentix are at multi-year lows, following a sharp contraction in industrial production in Q4. China reported a slump in trade and the slowest annual growth in three decades.
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White papers
China: Looking at Growth Past the Trade War
China’s growth is decelerating, it is loaded with debt and is involved in a high stakes trade war with the United States. Despite these issues, China’s economy appears to be holding up better than one might have expected. In fact, China’s growth could even accelerate in 2019 in response to aggressive monetary easing.
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White papers
Cross-Asset Investment Strategy: Is Turkey really out of the woods?
After having narrowly escaped a balance of payments crisis last spring, there are questions surrounding the Turkish economy, not to mention the many (geo)political tensions. Throughout this period, the currency has continued to experience strong downward pressures, leading to a surge in inflation. Recently, the markets seem to be recovering hope.
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White papers
Time to increase risk exposure: start with emerging markets and credit
The excess of pessimism at the end of 2018 resulted in a sharp decline in financial markets and renewed volatility. According to our analysis, market participants priced in twice the slowdown risk that economic fundamentals justified.
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White papers
Market Perspectives: When it rains, it pours
When it rains, it pours. Already the Flash crash in February was severe; then October saw the most severe monthly equity sell-off (MSCI World) since 2012. A further drawdown by mid November aggravated the year-to-date losses. Tech stocks entered bear market territory.
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White papers
Focus on fundamentals to ride turbulent markets
Investors are facing an unsettled environment. For 2019 we think it will be key to look at three areas:
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White papers
Cross Asset Investment Strategy - December 2018
This year has proven to be challenging for portfolio construction, as well as regarding returns. To put this into perspective, for 2009-17, our analysis shows that each year, on average, 76% of major asset classes (including different regional government bonds, equity, inflation-linked, currency and commodities) recorded positive performances.
