UBS Remains Defensive On China’s Credit Bonds

Caveat emptor to buyers of China Credit Bonds, says a new report from a big investment bank. With limited breakeven spreads across all tenors and yield curves staying flat, one UBS analyst remains defensive on China's credit bonds and prefers the high grades with short durations. Cynthia Cheng said in...

UBS Remains Defensive On China's Credit Bonds

Caveat emptor to buyers of China Credit Bonds, says a new report from a big investment bank. With limited breakeven spreads across all tenors and yield curves staying flat, one UBS analyst remains defensive on China's credit bonds and prefers the high grades with short durations. Cynthia Cheng said in...

Bank Of America Bullish On U.S. Dollar For 2017

Analysts at Bank of America Merrill Lynch express bullish views on the U.S. dollar for the year, though they anticipate that a correction to the USD rally will present a buying opportunity early this year. Athanasios Vamvakidis and Arko Sen also said in their January 11 research piece titled...

Asian Dollar Bonds Could Yield Decent Return In 2017: UBS

Amidst a low-rates environment and being a more stable part of global EM, one can expect Asian dollar bonds to still offer a decent return during the current year, according to UBS. Anna Ho and team said in their January 3 research note titled “The Asia Credit Analyzer” that they anticipate...

Japan’s trade surplus at near six-year high

With all the industry activity rising in October and the past week’s all-industry and trade reports pointing to encouraging trends, Q4 is set to clock yet another quarter of positive GDP growth, opines Daiwa Capital Markets. Emily Nicol and Chris Scicluna point out in their December 21 research piece...

Moody's Maintains Stable Outlook On China's Property Market In 2017

For several years, many observers have worried about whether the China property market has overheated and could hurt the global economy, but if one big rating agency is right, there are positive signs ahead. Enthused by supportive funding conditions and healthy inventory-to-contracted-sales ratios, Moody’s analysts maintain a stable outlook for China’s...

Moody’s Maintains Stable Outlook On China’s Property Market In 2017

For several years, many observers have worried about whether the China property market has overheated and could hurt the global economy, but if one big rating agency is right, there are positive signs ahead. Enthused by supportive funding conditions and healthy inventory-to-contracted-sales ratios, Moody’s analysts maintain a stable outlook for China’s...

HSBC On European Credit: Night Vision Required

European corporate hybrids are set to face volatility during 1H2017, as the Australian construction materials firm Wienerberger may not call its euro-denominated 6.5% hybrid on the first call date, while RWE is likely to call its CHF-denominated hybrid on its first call date. HSBC analysts, led by Michael Ridley,...

Currency Flexibility Key As BAML Downplays Australian Housing Bubble

Australian Housing Bubble manageable? Maybe says one of the largest banks On the back of currency flexibility, Australia would post 2.6% in 2017 and 3.2% in 2018, surpassing Netherlands' 25-year modern day record of consecutive growth in a developed economy, notes BAML. Tony Morriss and colleagues at Bank of America...

Massive Reallocation From Bonds Into Is Coming: Deutsche Bank

Despite the market witnessing record inflows into equities last week after the U.S. elections, there is a massive potential for reallocations out of bonds and into equities, believe Deutsche Bank analysts. Parag Thatte and colleagues said in their November 18 research piece titled “Large Post Election Moves: What To Fade...

Corporate Default Rate Nearing Cyclical Peak: Moody’s

With large corporations witnessing a declining number of bankruptcies, Moody’s Investor Services believes the U.S. high yield default rate won’t rise beyond 6% in the year ahead. Benjamin S. Garber highlights in his November 11 research piece titled “Corporate Shakeout Has Default Rate Pointing Lower” that the improved default outlook is...

Corporate Default Rate Nearing Cyclical Peak: Moody's

With large corporations witnessing a declining number of bankruptcies, Moody’s Investor Services believes the U.S. high yield default rate won’t rise beyond 6% in the year ahead. Benjamin S. Garber highlights in his November 11 research piece titled “Corporate Shakeout Has Default Rate Pointing Lower” that the improved default outlook is...

Barclays Natural Gas Could Rise As CapEx Gears Up

A warm start to winter could only delay the bullish narrative on natural gas and not cancel it, believes one Barclays analyst. In his November 9 research note titled “Gas and Power Kaleidoscope,” Nicholas Potter recommends buying Calendar 2017 on dips. Short-term weakness won’t hinder bullish view on natural gas Tracing...

Brent Oil Prices Could Touch $57/b In 2017

Barclays analysts expect Brent oil prices to climb to $52/b in Q4 and $57/b next year, with the next three to four weeks offering ample opportunities to buy on a dip. Michael Cohen and his colleagues in the firm's Commodities Research team said in their November 2 research piece titled “The...

Robo-Advisors' Growth Is "Uberization" Of Asset Allocation

Even though robo-advisors currently allocate 100% to passive strategies, they may be a major disrupting force in asset allocation, believes Bernstein. Inigo Fraser-Jenkins and colleagues said in their October 31 research piece titled “Fund Management Strategy: Robo advisors' threat to fund managers - R2-D2 or Terminator?” that they believe robo-advisors...

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