All insights

To understand this breakdown in correlation we need look no further than the source of the risk: the answer, just like in May 2013 when Bernanke gave us his taper tantrum, lies in rising rates.

Yesterday, 10yr Gilts closed at 1.510%.  Whilst that individual yield level does not sound particularly significant, in a historical context it is possibly one of the most important month end closing levels I have witnessed in more than 25 years in the markets.

Chris Bowie discusses Q4 performance of the Outcome Driven strategy and provides his outlook for the rest of the year.

Mark Holman discusses Q4 performance for the Strategic Income strategy and provides his outlook for 2018.

Ben Hayward looks back at performance for Asset Backed Securities over the last few months and provides an outlook for 2018.

As we provide lots of commentary on the maturing economic cycles and monetary policy across the globe, we thought it was worth highlighting some points from Fitch’s recently published Global Housing Update and its useful insights into how the global housing markets are faring.