Labour markets continue to cool off
Partner and Portfolio Manager Felipe Villarroel looks at new labour market data from the US and why this is good news for the Fed.
Insights Topic
US
Bank results should see levels begin to normalise
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Tighter financial conditions might herald end to rate hikes
Is the end of rate hikes near for the US? Concerns over regional banks and a weakening labour market are raising questions about the Fed's next move.
What is in the price of AT1s after the sell off?
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Why short dated IG is the “best game in town” for 2023
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Central Banks have tools to handle volatility in the banking sector
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Idiosyncratic or wider bank issue?
Deposit outflows at Silicon Valley Bank raise concerns over lending quality and mark-to-market losses, but is this a wider issue for the global banking sector?
February pull-back widens the entry point for fixed income
February was a nasty throwback to the sort of market conditions that battered fixed income in 2022, but the pull-back has given anyone worried they’d missed the January rally an even better opportunity, says Charlene Malik.
Financial conditions are tightening – what comes next?
With banks tightening lending criteria in the US, Felipe Villarroel explains why macro trends like this will have more influence on the Fed’s thinking than the recent strong jobs data when it comes to the path for monetary policy.
Are markets finally following the Fed?
With 2023’s rally halted by the Fed’s hawkish messaging, Felipe Villarroel questions whether markets read the recent jobs data correctly and looks at what it means for terminal rate expectations.
Fundamentals suggest more upside for high yield bonds
With risk assets rallying hard in the early weeks of 2023, Chris Holman reviews fundamentals in high yield bonds to see if recent performance has left any value in the market.
Time to extract value from Europe’s bargain bonds
When Wall Street’s army of analysts were publishing their outlooks for 2023 back in November, there was very little love for Europe.