Our Global Debt Team offers its quarterly update on worldwide macroeconomic conditions.
Euphoria following President Ramphosa’s 2018 election has faded as economic reality sets in.
We expect bumps in the road for this extended business cycle. Investment-grade bonds may help.
Derivatives, not bonds, may sometimes be the better choice in the hunt for extra yield.
India needs fiscal consolidation and reforms, but political momentum for them may be waning.
Mexico’s fiscal picture and policies take shape under new President López Obrador.
China is slowing, but we expect the government will act as needed to stabilize growth.
We are cautiously optimistic in our outlook on Mexico as AMLO makes his mark.
The 2018 sell-off presents an opportunity to realize price gains as well as income.