The U.S. energy revolution continues to be a game changer for America: It is likely to outperform the broader market over the longer term as energy prices gradually recover and as the U.S. produces more of the world’s supply of natural gas and oil.
To pop or not to pop? Since the global financial crisis, policymakers in many countries have debated the proper response to soaring asset values.
From an investment perspective, the combination of solid growth, significant policy accommodation and improvements in Greece – for now at least – bodes well for risk assets in the eurozone.
Ten-year Bund yields completed a secular journey from more than 10% in early 1981 to virtually 0% in early 2015. Having reached rock-bottom levels in late April 2015, yields briefly rose above 1% by mid-June, only to settle back down to 0.75% in July. Volatility, in other words, picked up.
Hopes were high last year that India’s new Prime Minister Narendra Modi could revitalize the economy, but expectations were far too optimistic, and a more mixed, pragmatic outlook has since taken hold.
As PIMCO expected, the Bank of Canada (BOC) cut the overnight lending rate by 0.25% to 0.50%, the second rate cut this year. Our baseline forecast is that this will be the last rate cut for 2015.
With other debt stories grabbing headlines lately, some investors may have missed an event a little closer to home: Chicago placed over $1 billion in taxable and tax-exempt bonds.
Jul 20, 2015
We expect wages to rise over the coming year, which should result in more broad-based services inflation beyond the shelter component.
Economic and Market Commentary
Puerto Rico’s debt is likely unsustainable and sacrifices will fall disproportionately on creditors.
Federal Reserve Chair Janet Yellen took to Capitol Hill Wednesday to deliver the Fed’s semiannual Monetary Policy Report to Congress, a forum that for many years infused volatility into the financial markets.