NN IP: The Heat is On

Economic Outlook: Central banks can’t ignore EM weakness

Emerging markets as a whole are not a net commodity exporter. However, EM financial conditions, EM growth momentum and commodity prices tend to move simultaneously in the same direction. Why is this? Our economist Willem Verhagen explains. Read more...

Asset Allocation: Market correction is excessive compared to underlying fundamentals

We are seeing one the worst starts of the year in the history of financial markets and investors look very pessimistic. In our view, the sell-off is not justified given the underlying fundamentals. We upgrade equities to overweight and bring our treasury and commodities position to neutral. Read more...

Fixed Income: Riskier spread buckets fall victim to investor outflows

Falling commodity and energy prices have contributed to big outflows from spread products since the beginning of the year, with cyclical segments under particular pressure. The sell-off in riskier spreads has also had the effect of improving valuations. Read more...

Equity Strategy: China risks remain a drag on EM growth outlook

Increasing China risks, accelerating EM capital outflows and tightening financial conditions leave little room for EM growth expectations to improve. As long as Chinese currency and growth risks increase, pressure on other emerging markets will remain high. Read more...