It is a confusing global economic outlook with investor confidence waning as the credibility of global central banks is brought into question. Click here to read the full Global Outlook & Strategy September 2015 “Confusion, Confidence and Credibility”. For more information please contact us.
A very interesting observation today compliments of Bloomberg. Basel 3 and QE has resulted in more distortions in the global corporate bond market. We now see negative swap spreads implying that investors believe corporate bonds are less risky than US treasuries. We believe this is due to the ongoing search for yield in a low interest rate environment and the resulting mispricing of risk. […]