Monetary policy

One way to look at low global inflation is as evidence of policy successes on the part of countries’ central banks — especially in Emerging Market (EM) countries, where inflation rates are often below their central bank targets.

It currently feels like we are at a critical juncture for economies and markets. 2019 is likely to be one of elevated uncertainty and more volatility as investors grapple with the question of whether this is the final phase of the economic cycle. Markets will behave accordingly.

On October 31, 2019, Mario Draghi’s term as President of the ECB will come to an end. Even though Mario Draghi’s personality has had a profound impact on the way the ECB communicates and therefore acts, it is important to point out that it is a small team within the ECB Executive Board that has led the major changes in the monetary policy since 2011/2012...

The legacy of the December Federal Open Market Committee (FOMC) meeting promises to have lasting effects well into the new year. Once again, there were no surprises on the outcome for the US Federal Reserve (Fed) funds target following this convocation.

When examining the fixed income market outlook within the Euro zone, inevitably the discussion turns to Italy, and what the potential ramifications of this ongoing budget saga will be.