Monetary policy changes and global liquidity

Is capital scarcity pushing yields higher?

Central banks have been under the spotlight in recent months. Across the world, in key economies, central banks have increased interest rates, pushing the cost of capital higher. What does this mean for global liquidity? PIMCO, Generali, Invesco, and more weigh in on this question.

Growth Holds, Risks Widen (PIMCO)

Today, there are potential upsides for productivity and growth but unusually fat tail risks. How can portfolios be positioned to participate in the former and withstand the latter?

Liquidity Is Confidence (Generali)

Markets have aggressively repriced the expected path of policy rates on renewed inflation fears and the remarkable economic resilience to the U.S.-Iran conflict.

Towards Bond Market Crisis or Yield Curve Control (AllianceBernstein)

Could a bond market crisis be a good thing?

Bond Markets Price Political Dysfunction as Well as Debt (Man Group)

When the U.S. bond rout spilled over into the eurozone two weeks ago, it briefly revived fears of another sovereign debt crisis. Is a rerun of 2010 on the horizon?

Follow the Cash! Microstructure of Repo Markets (FRBNY)

Follow the cash as it navigates through repo markets to better understand the costs and benefits that shape the existing market structures.

Assessing a Less Transparent Fed (Goldman Sachs)

Is a less transparent Fed a positive or negative development? Former Fed governors share their thoughts.

A Return to Monetarism? (Hudson Bay Capital Management)

What is monetarism, and could it be useful for the Fed?

The Future of Global Money (Invesco)

When trust is under strain, gold is the preferred hedge. Not the euro. Not the renminbi. Gold.

Sayonara, Zero: Japan Enters a New Era (Zurich)

It took a pandemic and an energy shock to do what 20 years of stimulus could not: get Japan out of a deflationary trap. What does this mean for the rest of the world?

Higher Bond Yields in an Era of Abundant Supply (Robeco)

Can investor demand absorb rising government and AI-related issuance? And will higher rates weaken more leveraged borrowers?

Credit Discipline through the Cycle-Lessons from a Pension Fund (Nuveen)

How one pension fund's long-term, member-focused mandate shapes a disciplined approach to portfolio construction, even amid geopolitical uncertainty and market volatility.

What Happens When Central Banks Get Busy? (GMO)

This paper considers why global monetary policy uncertainty may currently be elevated, how it can be measured, and why uncertainty may persist.

Special Report

Liquidity Changes Hands (New York Life Investment Management)

Why do asset owners need to rethink their role in a market-led regime?