Market Outlook

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Market Outlook

Market Outlook
Jul 21

UK bonds - May blossom

Improving US economic data and the formation of a new UK government led by Theresa May boosted spread sectors, especially UK corporate bonds. Volatility in global bond markets fell over the past five trading days, following the shocks created by the UK’s June 23 decision to leave the European Union (EU). Traditional safe-havens, such as long US Treasury bonds, gave up some of their recent gains, while German and Japanese sovereign bond yields rose, although they still trade at negative levels.

Market Outlook
Jul 21

A Powerful Backdrop For Credit

Western Asset continues to be cautiously optimistic that global growth will hold up, but is cognizant that Brexit has introduced new uncertainties. Western’s central theme remains that favorable valuations, strong fundamentals and reasonable growth are a powerful backdrop for credit.

Market Outlook
Jul 07

Mid-week Bond Market Update:

Keep Calm (The Fed's on Hold)

Developed market sovereign bond yields extended the rally started on June 23, when the UK voted to leave the European Union (EU). Supported by hopes of further global central bank easing to tame the effects of the vote, US, German and Swiss bond yields, among others, reached fresh record lows.

Market Outlook
Jun 27

Brexit's Aftermath:

Watch the Dollar

Brexit's main economic risk may be to the British economy, but beware the potential knock-on effect of a stronger US dollar, notes Francis Scotland of Brandywine Global.

Market Outlook
Jun 24

Implications of the UK's "Leave" vote

The UK has voted to leave the EU, a historic decision that will reshape and continue to send shocks through the market. Andrew Belshaw, Head of Investment Management, London, discusses the political and economic implications, as well as what this means for European bond markets and currencies, and the US and global markets.

Market Outlook
Jun 24

"Brexit" vote update:

Britain Bolts EU

The UK has voted to leave the EU -- unleashing a wave of uncertainty into the markets as investors react to the potential consequences. See what our managers think might be next for investors and the global economy.

Market Outlook
Jun 17

Returns in Times of Trouble

Western Asset CIO Ken Leech says that global recovery remains intact, albeit fragile, despite a tumultuous first quarter.

Market Outlook
Jun 09

Mid-week Bond Market Update

Markets Cheer Weak US Data

The weakest US jobs report in almost six years has fueled global bond markets since the data became available on Friday. Prospects of continuous central bank support, via loose monetary policies, lifted global sovereign debt, with the benchmark German 10-year yield falling to a record low of 5 basis points (bps), and its US counterpart down to 1.7% last Friday, from 1.86% just the week before.

Market Outlook
Jun 07

The Weight of Debt

Why did global high yield prices recover so quickly in February and March? The Fed's shift to a more cautious approach was a major factor — and will likely drive valuations over the next year or more.

Market Outlook
Jun 07

Is the Coast Really Clear?

A Fed rate hike could set back the quest for more global growth and inflation; Western Asset CIO Ken Leech explains why.

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