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Timely insights on markets and macroeconomics around the world
  1. Heightened market volatility has led to misconceptions about credit, in our view. We dispel four of them here.
  2. In the absence of immediate and substantive policy easing at the national level, we believe that the sector could pose a serious risk to the...
  3. Federal Reserve hikes policy rate 50 basis points, while remaining flexible in fighting inflation.
  4. Higher yields, wider credit spreads, and other common market reference metrics suggest relative valuations for muni bonds have become attractive.
  5. The Bank of Canada embarked on a swift tightening path, but secular forces still weigh on the longer-run interest rate outlook.
  6. Sanctions on Russia’s foreign currency reserves will likely stymie the rise of the Chinese renminbi as a competitor to the U.S. dollar.
  7. The countries’ weight in global trade is relatively small, but outsize exports of raw and semi-finished goods may portend price hikes across a...
  8. While Beijing has set an ambitious growth target this year with a generous fiscal stimulus plan, new COVID-19 waves are adding to mounting headwinds...
  9. As the West cuts Russian energy supplies, U.S. shale oil and natural gas producers may regain global dominance.
  10. Parsing the yield curve can lead to a variety of conclusions about whether a downturn is coming, while underscoring the importance of flexibility.