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G10 Macro Rates Market Analysis – December 2019 Review

07 January 2020

With the Pacific G10 Macro Rates Team

Steady as she goes
December rounded off the year in a relatively benign way. US equities kept rallying, whilst the UST 10yr drifted up 14bp from 1.78 to 1.92 and the UST 2-10 curve steepened gradually from 16 to 34 bp.  

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G10 Macro Rates Market Analysis – Weekly Review – 23rd Dec 2019

23 December 2019

With the Pacific G10 Macro Rates Team

Global Macro Overview
As one would expect going into the seasonal holidays, last week was a relatively quiet week for the financial markets.  There was no new information and the data has been broadly consistent with the resilient economic growth. 

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G10 Macro Rates Blog – The World is Desensitising

19 December 2019

Latest G10 Macro Rates Blog
With Shayne Dunlap, Co-Portfolio Manager

Trump was impeached last night, the third president in US history, however the market couldn’t have cared less. FX and rates unchanged, nada, flatline. The partisan lines are so heavily drawn that they may as well be the fictional “wall” between the US and Mexico.  

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G10 Macro Rates Market Analysis – Weekly Review – 16th Dec 2019

16 December 2019

With the Pacific G10 Macro Rates Team

Global Macro Overview
Last week saw two Central Bank meetings, the UK election and another round of twitter posts, rumours and official statements about the US-China trade conflict. 

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PAM 2019 UK General Election Report

13 December 2019

Early analysis with Will Bartleet, CIO and multi-asset portfolio manager at Pacific Asset Management

Last night the Conservative party won a decisive victory over Labour with the largest majority since 1987. With the final votes being counted, it is clear that Boris Johnson’s party will have sufficient control over parliament to leave the European Union on 31st January. This leaves eleven months to undertake trade negotiations which are due to be concluded by the end of 2020. 

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G10 Macro Rates Market Analysis – Weekly Review – 9th Dec 2019

09 December 2019

With the Pacific G10 Macro Rates Team

Global Macro Overview
Encouraging data out of China over the weekend has pushed equities and bond yields higher on Monday. However markets were caught out by President Trump who created a storm of headlines on Tuesday to detract attention from the release of the House Impeachment Report. 

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Multi-Asset – CIO Monthly View – November 2019

05 December 2019

CIO Monthly View with Will Bartleet, CIO and multi-asset portfolio manager at Pacific Asset Management

Equity markets moved higher in November as investors were hopeful that the first phase of a trade deal between US and China would be signed imminently. It remains to be seen whether an agreement can be reached before the next round of tariffs are due to take effect on 15th December. 

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G10 Macro Rates Market Analysis – Weekly Review – 2nd Dec 2019

03 December 2019

With the Pacific G10 Macro Rates Team

Global Macro Overview
It was mostly a quiet Thanksgiving week, with the FT reporting the tightest range for EUR/USD in history. Last week also saw the continuation of the election campaign in the UK, further developments on the US-China trade front, new highs on the S&P and a lot of insightful macroeconomic data. 

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Emerging Market Viewpoints – November 2019

28 November 2019

Latest Emerging Market Viewpoints
From the North of South Capital team

For the last few years, the world has been bracing itself for the IPO of what would surely become the largest listed corporation in the world. This was not going to be a high-growth technology stock and it wasn’t based in any of the world’s largest economies such as the US or China. It would be a distinctly old fashioned resource company, in the business of extracting oil.  

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G10 Macro Rates Market Analysis – Weekly Review – 25th Nov 2019

26 November 2019

With the Pacific G10 Macro Rates Team

Global Macro Overview
A very quiet week in the rates markets, with 10y US Treasuries stuck in a 15bps range. Trade related headlines continued to drive the markets. As uncertainty increased about a Phase 1 deal in 2019, the S&P 500 sold-off after reaching new highs and bonds rallied. Economic data was broadly in line with consensus across the globe and hence didn’t affect financial markets that much. 

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