Analysis On Fixed Income, Fx & Equity Markets

Merchandise trade data for November show the surplus continuing to tick higher, and we expect this to remain the case into 2011 on the back of higher oil prices. With the current account... 2011-01-21

We hold to our bullish outlook on Russian equities heading into 2011, with a number of factors aligning to push the benchmark dollar-denominated RTS and rouble-denominated MICEX indices... 2010-12-22

Our Central Europe (CE) strategy has been based primarily on divergent fundamental outlooks throughout the region, having previously expressed our preference for Polish equities over... 2010-12-02

The near-term risk scenarios that we highlighted on November 22 after EU finance ministers accepted Ireland's request for a bailout appear to be playing out (see our online service,... 2010-11-24

Global markets have taken a breather ahead of the November 2-3 US Federal Open Market Committee (FOMC) meeting, at which renewed monetary easing is widely expected. Though further... 2010-10-27

The return of the US dollar carry trade in the latter stages of September (see our online service, September 22, 'Dollar Carry Trade Is On') has paved the way for Emerging European... 2010-09-29

Switzerland's banking system looks set to enjoy broad stability as cantonal banks maintain their conservative lending practices while conditions for the two grossbanken, UBS and ... 2010-08-20

Germany's robust rate of economic expansion will not be sustainable over coming quarters. A deteriorating external environment spurred by fiscal consolidation, deflating credit and... 2010-08-17

Turkey's decision to delay the implementation of the 'fiscal rule' highlights growing risks to the country's macroeconomic profile. Nevertheless, we believe that such risks have already... 2010-08-16

The re-pricing of risk in the eurozone since late June has seen European markets head substantially higher in recent weeks, with several key equity indices currently up against major... 2010-08-03