It’s Been Quite a Run for Global Fixed Income

Interest rates globally fail to accurately reflect fundamentals because QE has distorted markets, says our Global Head of Fixed Income. Investors have certainly benefited from the run-up in prices, but how much lower can rates go when over USD 10 trillion in global bonds have negative yields?

3 Reasons to Get Active

Our Capital Markets and Thematic Research team says one of the biggest reasons for investors to go active is because unprecedented central-bank stimulus has increased correlations. Once monetary policy normalizes, lower correlations could help stocks trade more on fundamentals.

Outlook & Commentary

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Outlook & Commentary

Will the Year of the Fire Rooster Ruffle Feathers?

Our Capital Markets and Thematic Research team says that even though the year ahead will continue to be challenged by uncertainties, market disruptions may prove fleeting—and cooler heads will likely prevail.
Ann-Katrin Petersen | 05/01/2017
Outlook & Commentary

Fed Rate Hike Renews Bond-Market Volatility

By announcing a new rise in interest rates, and hinting at more to come, FOMC members have made a strong statement about their confidence in the US economy. But we expect markets to carefully watch any new data that could change the Fed’s mind.
Franck Dixmier | 15/12/2016
Outlook & Commentary

Rate Hike Seems Imminent, But Next Year Is Unclear

A 25-basis-point interest-rate increase by the Fed is fully priced in, and strong US economic data already bolster the case for more hikes in 2017. However, any projections for next year don’t reflect Trump’s as-yet unimplemented economic policies.
Franck Dixmier | 12/12/2016
Outlook & Commentary

3 Drivers of Returns and Volatility in 2017

Our Capital Markets and Thematic Research team says geopolitics, monetary policy and the global economy are the three factors that will exert the most influence on investments in 2017, but it could be a volatile mix.
Hans-Jörg Naumer | 09/12/2016
Outlook & Commentary

2 Reasons Why the ECB Should Keep Buying Bonds

We expect the ECB to extend its asset-purchase program, buying EUR 80 million in bonds each month, because of concerns about low inflation and political volatility. But Trump could be a wild card in the bank’s plans for continued accommodation.
Franck Dixmier | 07/12/2016
Outlook & Commentary

2017 Outlook: Focus Shifts to Fiscal Policy & Populist Politics

As the markets close the books on another tumultuous year, investors should keep watch on the rise of populist politics, China’s re-emergence as a global growth engine and a renewed focus on government spending as interest rates remain low.
Neil Dwane | 01/12/2016
Outlook & Commentary

3 Reasons to Get Active

Our Capital Markets and Thematic Research team says one of the biggest reasons for investors to go active is because unprecedented central-bank stimulus has increased correlations. Once monetary policy normalizes, lower correlations could help stocks trade more on fundamentals.
Greg A. Meier | 15/11/2016
Outlook & Commentary

It’s Been Quite a Run for Global Fixed Income

Interest rates globally fail to accurately reflect fundamentals because QE has distorted markets, says our Global Head of Fixed Income. Investors have certainly benefited from the run-up in prices, but how much lower can rates go when over USD 10 trillion in global bonds have negative yields?
Franck Dixmier | 11/11/2016
Outlook & Commentary

Fed Finding it Hard to Justify the Unjustifiable

Once the obstacle of the US elections is removed, the Fed will no longer be able to justify holding the line on rates. While we don’t expect any movement at their pre-election day November meeting, we do expect a completely different story from their year-end meeting in December.
Franck Dixmier | 28/10/2016

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