Since October 2022, emerging market (EM) bonds have outperformed US Treasuries and corporate bonds, supported by positive economic momentum within EM countries, a resilient US economy, and the prospect of US rate cuts. While global growth may slow slightly, the outlook for EM bonds remains more optimistic than previously expected.
With financial bond yields surging past 6% and trading activity intensifying, constructing a portfolio from the most actively traded dollar bonds offers both liquidity and resilience. A barbell bond portfolio strategically allocates investments to the short- and long-end of the maturity curve, deliberately minimizing or excluding exposure to intermediate maturities. The short-duration segment enhances portfolio…...
In light of renewed geopolitical tensions and market uncertainty—particularly surrounding a potential Trump 2.0 administration and its implications for emerging markets—we examined the performance of emerging market bonds. Despite rising concerns, history shows that EM bonds held up relatively well during Trump’s first term. Our analysis highlights the EM Model Portfolio (selected through the Bondwatch…...
Amid heightened volatility across global markets, dollar bonds have experienced significant movements, with yield spreads over U.S. Treasuries widening notably. In light of this, we have compiled a list of recently popular investment-grade dollar bonds issued by financial institutions, all offering yields above 6% and featuring an outstanding amount of over USD 500 million. The…...
Updated: Monday, May 01, 2025 As global investors recalibrate risk in an environment shaped by shifting central bank policies and uneven macro growth, Asia’s credit markets are emerging as a dual-engine for portfolio strategy in 2025. Investment Grade (IG) offers a foundation of stability and predictable yield, while High Yield (HY) showcases resilience, backed by…...
Report Date: April 28, 2025 BlackRock underscores economic resilience, T. Rowe Price flags volatility, JPMorgan projects steady growth, and John Hancock urges caution over trade disruptions. Summary This executive briefing consolidates market outlooks from BlackRock, T. Rowe Price, JPMorgan, and John Hancock Investments.BlackRock emphasizes resilient economic growth and cooling inflation, recommending continued equity exposure. T…....
This article summarizes key insights from four leading institutions on the 2025 global market outlook. J.P. Morgan, Deutsche Bank, UOB, and Allianz Trade have all revised their 2025 global economic forecasts, reflecting a moderation in growth expectations due to persistent inflation, geopolitical uncertainties, and elevated market volatility. J.P. Morgan anticipates strong global growth, supported by U.S. exceptionalism and a resilient dollar, while maintaining a constructive view on credit and equities, but a bearish stance on oil and base metals.
Updated: Monday, April 28, 2025 Goldman Sachs forecasts gold at $3,700/oz, UBS sees strong support above $2,500, and HSBC lifts targets amid intensifying geopolitical risks. Summary: Goldman Sachs, UBS, and HSBC have all raised their 2025 gold price forecasts, reflecting a consensus on gold’s bullish trajectory driven by geopolitical tensions, economic uncertainties, and robust central…...
HSBC lowers Brent forecasts amid trade frictions, UBS sees volatility ahead, and Goldman Sachs warns of geopolitical tremors shaping oil price risks. Summary: This article consolidates the latest oil price forecasts and market assessments from HSBC, UBS, and Goldman Sachs. Key Highlights by Institution: HSBC: UBS: Goldman Sachs: Conclusion: Consensus View: All three institutions agree…...
Market Overview Summary The fixed income market in early 2025 is characterized by a global economic expansion, easing inflation, and anticipated central bank rate cuts, excluding the Bank of Japan. The U.S. demonstrates resilient growth, while Europe faces vulnerabilities. Fiscal policy is gaining importance alongside monetary policy, especially with potential shifts in U.S. trade, taxes,…...
