NN IP: Bounce from the Bottom

Economic Outlook: Global growth remains a fragile equilibrium

At its most basic level the global economy and the global financial system combined can be thought of as one big, very complex and very much intertwined "general equilibrium" system. The essence of this system is that everything depends on everything else. Read more...

Asset Allocation: Market rebounds – but for how long?

Over the previous two weeks, worries over growth, less effective monetary policy makers and renewed concerns over the banking sector seemed to have created a perfect storm for investor sentiment. Read more...

Fixed Income: Spread widening broadens across sectors

US credit standards have tightened further in the final quarter of last year. Credit standards are important, as they tend to lead defaults and hence also credit spreads. Historically, severe tightening of lending standards also tends to precede economic recessions. Read more...

Equity Strategy: Recent dominance of DM worries has given EM a window to outperform, which is unlikely to last

In the past five years there have been ten periods in which EM was able to outperform DM. These periods lasted between one and six months and mostly coincided with phases of declining US bond yields. So while the longer-term trend of slowing EM growth and rising EM system risk remained intact, moments of relief about US monetary policy tightening did help EM equities temporarily. Read more...