DM Markets Chart Pack Low oil price drives up US high-yield corporate spreads The spreads over Treasuries of US high-yield corporate bonds have risen further since the end of November, continuing their increase since the autumn. This has largely been driven by a rise in... 9th January 2015 · 1 min read
DM Markets Chart Pack US Treasury yields set to rise as Fed tightens The yield of 10-year US Treasuries has fallen further over the past month. But we expect it to rise as the Fed tightens policy. Admittedly, during the last major tightening cycle in 2004-2006, it... 5th December 2014 · 1 min read
DM Markets Chart Pack After a wobble, US equities post another record high The S&P 500 has recovered from a major wobble in October and recently posted another record high. That being said, we don’t think the strong performance is likely to last. The value of the US stock... 4th November 2014 · 1 min read
DM Markets Chart Pack US stock market running out of steam Since the end of August, the S&P 500 has fallen by about 2%. Although September’s US Employment Report was healthy, with the jobless rate falling below 6% for the first time in more than six years, a... 6th October 2014 · 1 min read
DM Markets Chart Pack Dollar likely to strengthen further The dollar is now the strongest it has been against a basket of seven other major currencies in more than a year. We doubt the rally is over given the relative prospects for monetary policy in the US... 2nd September 2014 · 1 min read
DM Markets Chart Pack Outlook still fairly positive for European equities Although developed market equities have performed poorly over the pastmonth, in general we do not expect them to continue to struggle. Europeanequities were the worst performers, dragged down by the... 8th August 2014 · 1 min read
DM Markets Chart Pack Euro likely to come under pressure again soon Additional easing by the ECB in June has failed to generate further downward pressure on the euro. Indeed, the euro has strengthened since the Governing Council met last month. However, while the ECB... 3rd July 2014 · 1 min read
DM Markets Chart Pack Falling term premiums drive down Treasury yields The 10-year US Treasury yield fell further in May. Unofficial Fed data suggest that most of this year’s big decline has been due to a drop in the real yield, and that the rally has reflected a... 4th June 2014 · 1 min read
DM Markets Chart Pack Underperformance of Japan's stock market may end soon In April, major stock indices edged higher in the US and Europe but fell further in Japan. We think equities in the US are likely to struggle as the Fed becomes less accommodative, and our end-2015... 2nd May 2014 · 1 min read
DM Markets Chart Pack Is US corporate credit risk becoming mispriced? The credit spreads of US corporate bonds fell further in March. At around 1.7%, the spread over Treasuries of those with a 7-10 year maturity and BBB rating is now below its average of the last... 4th April 2014 · 1 min read
DM Markets Chart Pack Italy’s and Spain’s sovereign credit spreads fall further 10-year government bond yields in Italy and Spain continued to decline in February. Admittedly, yield spreads over 10-year German Bunds seem reasonable given the countries’ current sovereign credit... 6th March 2014 · 1 min read
DM Markets Chart Pack A strong start to 2014 for US Treasuries One of the best-performing assets since the start of the year has been long-dated US Treasuries, with the 10-year yield falling back by some 40bp or so in January, to around 2.6%. This was largely... 4th February 2014 · 1 min read
DM Markets Chart Pack Markets take tapering in their stride The onset of Fed tapering has not been the game-changer for bond andequity markets that many had predicted. Indeed, in the weeks following theannouncement, equity prices continued to gain and bond... 3rd January 2014 · 1 min read
DM Markets Chart Pack Sterling’s strength is unlikely to last Sterling has been the best performing major developed market currency over the past few months, appreciating to more than 1.64 dollars, compared to an exchange rate of 1.50 during the summer. The... 3rd December 2013 · 1 min read
DM Markets Chart Pack Equities boosted by debt-ceiling resolution The extension of the debt ceiling and continued indications that the Fed will not reduce the pace of its asset purchases for a while helped buoy a range of assets in October. Equities benefited more... 5th November 2013 · 1 min read
DM Markets Chart Pack US Treasuries shrug off debt ceiling crisis Although the shutdown of the federal government and the lack of agreement in Congress on extending the debt ceiling have pushed up the cost of insuring against a default by the US sovereign, this... 8th October 2013 · 1 min read
