Currencies

Central bankers leave key questions unaddressed

Last week brought arguably the most important event in the monetary policy calendar, as central bankers and economists from around the world converged on Jackson Hole, Wyoming, for the Kansas City Fed’s annual economic policy symposium. Two of the most powerful central bankers – U.S. Federal Re ...

Currency management: A simple roadmap

Global diversification has become standard practice among investors around the world. As the trend toward global investing grows, managing currency risk in global portfolios is likely to take on increasing importance. Sovereign wealth funds, central banks and other investors are likely to consider ...

EMD investors increasingly positioning for Alpha markets

Regular readers of our Emerging Market (EM) Debt Strategy Quarterly will have noticed that we have been advocating the case for active beta management since late 2016. Whilst a superficial look at EM bond market returns would seem to suggest that investors continue to prefer beta strategies, we bel ...

Two Things That Keep Central Banks’ Reserve Managers Awake at Night

By Veronica Bacalu, Vincent Fleuriet, and Asad Qureshi One of the central bank’s roles is to manage a country’s international reserves. But, central bank reserve managers have been losing sleep over two main issues: low interest rates, and how best to communicate the choices they make.  Centra ...

Two Things That Keep Central Banks’ Reserve Managers Awake at Night

By Veronica Bacalu, Vincent Fleuriet, and Asad Qureshi One of the central bank’s roles is to manage a country’s international reserves. But, central bank reserve managers have been losing sleep over two main issues: low interest rates, and how best to communicate the choices they make. Cent ...