Portfolio Watch: Steep, Steeper, Steepest!
What a week in global fixed income! We thankfully rotated out of bonds and into cyclical exposures in steepeners, commodities, energy and...
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Japan Watch: Flows in JPY and JGBs after the YCC decision
The change to the YCC-policy in Japan caught a majority of investors off guard, but so did the subsequent flows and moves in Japanese markets. We...
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EM by EM #13 – A sweetspot for Brazilian Equities?
Main takeaways:Brazilian Equities are on offer and provide solid value for long-only. If commodities are in for a rebound Brazil may be a decent...
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Nothing Else (Except Macro) Matters
While mainstream headlines would focus on the 9.1% YoY print, I’d like to highlight two more relevant statistics that would worry the Fed further...
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The Hump and Kink in Brazil’s Yield Curve to Become More Pronounced
I expect the hump and kink in Brazil's rate curve to get more pronounced as a deeper rate-cutting cycle should get priced in and the curve should...
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