The vanishing yield cushion

Conventional approaches to fixed income investing rely on bond yields to generate returns. Most of the returns come from accumulating portfolios of bonds to harvest yield.

Read More

A vicious cycle to a contagious virus

We’re normally circumspect about the “EM contagion” narrative as it usually ends up being more headline noise than substance, but this time we’re paying closer attention

Read More

Markets Wake Up To Inflation Risk

Inflationary pressures have been building globally and particularly in the US. The rise in breakeven inflation rates over the past two months shows that markets have begun to price this in.

Read More