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Emboldened BOJ takes hawkish tilt
The Bank of Japan has set itself firmly on the path of further policy normalisation. But how far and fast it will go from here remains an open question.
The Investor's Guide to China podcast: The renminbi effect
In this episode, we turn our attention to something that affects almost every investor in China: a weakening renminbi.
Chart Room: Picking up the Hong Kong premium
Hong Kong has quietly grown its bond market into a quality haven in Asia. A window has opened for investors who want a piece of the action.
Unlocking alpha: How global investors can play China’s onshore bonds
There's room for alpha in China’s top-rated bonds, which account for a significant part of global fixed income indexes and benefit from macro headwinds.
The Investor's Guide to China podcast: In conversation with Louis-Vincent Gave
In this special edition of The Investor’s Guide to China, Catherine Yeung, Investment Director, is joined in Hong Kong by Gavekal's Louis-Vincent Gave.
Chart Room: Why China is all aglitter over gold
China’s onshore gold price premium has expanded, spurring cross-border arbitrage and calling for stronger policy measures to shore up confidence.
Chart Room: Building a bigger bloc of BRICS
With one country continuing to pull far more economic weight than everybody else, the significance of BRICS expansion will be more diplomatic than economic.
The Investor's Guide to China podcast: De-dollarisation
When it comes to currencies, it often feels like it's all about the US dollar. Although the greenback has dominated international trade and finance for decades
Chart Room: Will the renminbi’s stable attraction woo Asian partners?
While the market traditionally focuses on the renminbi’s performance against the US dollar, we think its relationship with Asian peers deserves more attention.
Chart Room: Rewriting the yen narrative
We think recent tweaks to the Bank of Japan's yield curve control policy could reset the narrative and pave the way for yen appreciation.
The Investor's Guide to China podcast: China's Next Phase
What's going to happen as we enter a new phase of the Chinese growth story under President Xi Jinping's leadership.
Chart Room: Pressure mounts on yen as US yields soar
Japan's commitment to YCC puts it in a difficult position amid rising inflation. Were the BoJ to abandon YCC, the knock-on effects could be severe.
Navigating the strong dollar fallout
The dollar's gains are sending ructions through financial markets. We look at where and how the pressures are starting to be felt and what might halt the rise.
Chart Room: China takes own path in a tightening world
China is bucking the trend towards higher interest rates, and the resulting yield divergence has huge implications for bond investors and currency markets.
Chart Room: Interest rates won’t fix the euro’s problems this time
Chart Room: Interest rates won’t fix the euro’s problems this time
The last of the doves: BoJ unlikely to change course anytime soon
The last of the doves: BoJ unlikely to change course anytime soon
How blockchain will revolutionise the financial system
Tthe blockchain technology behind bitcoin and other digital assets continues to grow in importance
Now and zen: Japan’s quiet rise
Inflation may be a scourge elsewhere, but Japan is unruffled. Instead, the world’s third-largest economy is showcasing its appeal to investors.
Chart Room: As others hike rates, can China’s easing policy remain a cut above?
Cuts to the reserve requirement ratio remain China’s monetary policy weapon of choice. How they are wielded highlights the tightrope policymakers must walk.
China as a new safe haven?
Looming stagflation and war effects have global investors searching for havens. China represents a less conventional option with diversification benefits.
Markets shift as Ukraine consequences spread
While the humanitarian impact of the war in Ukraine grows by the day, the economic effects are also mushrooming
Russian and Ukrainian debt comes under pressure
Our base case from a fixed income perspective is now for a more severe and protracted conflict.
Chart Room: Emerging market currencies left behind as commodity prices soar
The close relationship between commodity prices and emerging market currency returns has broken down this year.
Chart Room: Stronger for longer for China’s renminbi?
Expectations for further renminbi appreciation have risen, but we think short-term gains could be capped from here.
Chart Room: After the Gold Rush
Is it time to take profits in gold?
Chart Room: A liquidity tide for the record books
2020 brought us new high-water marks in the US for both money supply growth and the personal savings rate.
Chart Room: Chinese stocks, playing catchup, finally retrace 2015 highs
But the rally in China’s main onshore index still lags its US and global counterparts.
Chart Room: Weakening dollar gives emerging markets a shot in the arm
Emerging markets may be helped further along by the weaker outlook for the US dollar.
Chart Room: Emerging market currencies lag on inflation risks
EM countries are using some of the same monetary and fiscal measures as developed markets. But this could add to rising inflation and currency weakness.
A to-do list for Japan’s next prime minister
Ensuring fiscal and monetary policy continuity while overseeing Japan's response to the Covid-19 crisis will be top priorities for Shinzo Abe's successor.
As gold’s surge draws wider interest, miners shine too
Gold's lustre is also rubbing off on the companies that dig it up from the ground.
Cool Heads: where next for sterling?
Tim Foster says the pound could benefit from a more positive UK outlook.
Sterling could weaken further, but main risks may lie beyond Westminster
UK unlikely to be immune to external macro risks.
Trade war tit-for-tat escalates: Views from the investment desk
Volatility has returned to global financial markets following the latest developments in the ongoing trade spat between the US and China.
Is seven an unlucky number for China’s currency?
China’s renminbi weakened past the seven per US dollar mark for the first time in more than ten years.
Currency risk in pan-European real estate
Why it matters and where the unexpected dangers lie.
Turkey’s interest rate hold is a policy mistake
Turkey’s inaction on the benchmark interest rate is a major policy mistake, undoing much of the good of the rate rises in Q2.
Currency hedging: Testing the theory
Currency hedging: Testing the theory
Currency risk: What developed markets can learn from emerging markets
Modern politics is making some developed market currencies unusually volatile. What can investors learn from emerging markets when it comes to currency risk?
Views from the desk: Diverging monetary policy
Diverging monetary policy
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