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Market Outlook

Market Outlook
Oct 18
Market Outlook

Mid-Week Bond Update

Copper Party

October 18, 2017

Global bond markets welcomed yet another disappointing inflation reading in the US, which pushed global bond yields and inflation expectations lower. European sovereigns were also supported by comments from European Central Bank (ECB) president Mario Draghi, who said that the ECB should be patient and...

Market Outlook
Oct 10
Market Outlook

Small-cap stocks

Disconnected Defensives

October 10, 2017

Defensive sectors like Health Care have led small caps this year, suggesting that the market may be growing disconnected from economic realities. But a shift back toward cyclical sectors could be in the offing.

Market Outlook
Oct 09
Market Outlook

U.S. Stocks

Room to Run, but Watch the Fed

October 09, 2017

The global economy has been firing on all cylinders, stocks have soared, and recessionary risks remain minimal. But could the Fed's plans to shrink its balance sheet spoil the party?

Market Outlook
Oct 04
Market Outlook

Mid-Week Bond Update

Loanly week

October 04, 2017

The global sovereign bond sell-off continued for a fourth week, this time triggered by renewed plans by US president Trump to introduce big tax cuts. Only the most economically-sensitive and equity-like fixed income sectors, such as bank loans and High Yield, posted gains, while leading US equity indices reached yet another record. Also showing improved confidence, US leveraged loan issuance in September was...

Market Outlook
Sep 27
Market Outlook

Mid-Week Bond Update

Politics takes centre stage

September 27, 2017

From Berlin to Pyongyang, via Istanbul, Tokyo and Barcelona, political uncertainty came back to dominate global bond markets, pushing up demand for both traditional safe-havens and growth-sensitive asset classes. US Non-Agency Mortgage-Backed Securities and corporate bonds gained on...

Market Outlook
Sep 20
Market Outlook

Mid-Week Bond Update

High Yield - bringing up baby?

September 20, 2017

US and European High Yield indices survived a general fixed income sell-off week, triggered by prospects of higher interest rates on both sides of the Atlantic. This resilience reflected the asset class’ increasing maturity and quality as well as a recently rising correlation...

Market Outlook
Sep 13
Market Outlook

Mid-Week Bond Update

EMs from (ugly) duckling to darling

September 13, 2017

Traditionally riskier parts of the bond universe, such Emerging Markets (EM) and High Yield, rallied over the past five trading days as geopolitical concerns eased, the aftermath of the recent US floods started to settle and as Europe and China continued to post positive data. EMs extended their year-to-date gains as local currencies gained and the asset class’ volatility continued to fall, just the opposite...

Market Outlook
Sep 06
Market Outlook

Mid-Week Bond Update

The sanctioned five

September 06, 2017

Most global Fixed Income markets rallied over the past five trading days as geopolitical tension around North Korea’s nuclear programme intensified: US president Trump threatened to sanction any country trading with the Asian nation - a list that includes China -, while already-sanctioned Russia warned against the effectiveness of economic punishment. The already-sanctioned list also includes Syria, Iran and Qatar, whose conflicts remain unsolved. The rising tension sank US Treasury yields...

Market Outlook
Sep 06
Market Outlook

After the flood

Hurricane Harvey's Market Impact

September 06, 2017

Markets have largely taken Hurricane Harvey's devastation in stride, but the full scope of its impact may not be felt for weeks to come.

Market Outlook
Aug 31
Market Outlook

Emerging Markets Insights

China: What to Expect in the Next Six Months

August 31, 2017

In light of concerns over China’s rising leverage, yuan stability, capital outflows and risks to emerging economies, Western Asset’s Portfolio Manager and Head of Investment Management, Asia (ex-Japan) Desmond Soon shares what we can expect from China’s financial markets in the next six months. He goes into detail about why we think a debt crisis in China is not likely, the safeguards in place to help ensure financial stability and the steps China is taking to encourage more foreign investments to conclude that China’s fixed-income market continues to be an attractive option for global bond investors. READ MORE.

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