Global Equity Investor insight | May 2025
Monthly update on the global equity market from Jeremy Richardson.
Global Equity Investor insight | June 2025
Monthly update on the global equity market, discussing two scenarios that appear to have replaced tariff uncertainty in the minds of investors.
Unlocking the illiquidity premium in EMD
We discuss how – at a time of global uncertainty – EM private credit investors can benefit from enhanced yield and a compelling risk-reward balance.
The tailwinds for alternative fixed income strategies in emerging market debt
How different EM alternative strategies can offer investors a way to capitalise on market inefficiencies.
Is this the end of US exceptionalism?
Spread compression reflects improving fundamentals and a realisation that Europe can offer a more attractive hunting ground for credit investors.
2025 Market View: Fixed Income
Mark Dowding, BlueBay Chief Investment Officer, shares his thoughts on 2024 and the year ahead.
Global Equity Investor insight | April 2025
Contrasting moods from investors in North America and Europe.
Unlocking markets: following the fundamentals
In our ‘Unlocking markets’ podcast episode, we discuss how European banks are benefitting from strong fundamentals and emerging trends.
Private assets in emerging markets
We look at private assets in emerging markets and overcoming the drawbacks of private equity through an exposure to illiquid credit.
European bond markets: five musings from March
As we reach month end, Neil Mehta, Portfolio Manager, provides small pieces that make up the big picture in European macro and fixed income markets.
Brazil: a changing landscape for private credit
We discuss a recent trip to Brazil, one of the larger markets in private credit, where we continue to see demand for capital.
2025 Market View: Japan Equity
David Soh, Portfolio Manager and Head of Research, RBC Asian Equity team, shares his thoughts on 2024 and the year ahead.
2025 Market View: Asia ex-Japan Equity
David Soh, Portfolio Manager and Head of Research, RBC Asian Equity team shares his thoughts on 2024 and the year ahead.
Indonesia: a long-term growth story
Despite recent stock market falls and policy uncertainty, our EM Equity team believes the Indonesia equity story is a favourable one.
Joy, despair and the road in between
US policy uncertainty is making it difficult to implement medium-term plans, and this is weighing on business confidence and hindering investment.
I know what you did last summer….added alpha in CLOs
We actively added high-quality European CLOs in the primary market this summer, leveraging the market dislocation to generate alpha.
TACO Trump is likely to fight back
At a time when market direction is less certain, it strikes us that curve trades offer a better potential reward than duration trades at this point.
Winning in the USA
The past week has seen plenty of introspection and hand wringing in the EU, with Trump having exposed the lack of power and leadership in the bloc.
Private credit opportunities in emerging markets
We discuss how a selective approach to high quality EM private debt investments can enhance returns, while reducing risk and dampening volatility.
Wise men follow a new light in the night sky
As we make bold predictions for year ahead, we would be wise to focus on policy and politics, and absolute return strategies.
Trump 2.0: the themes driving EM Debt
We discuss why emerging markets reacted as expected to Trump’s stunning win, and highlight three key themes shaping the outlook for EM fixed income.
No hero for Net Zero
The US government shutdown continues and with air travel now affected, there are fears that the economic drag may start to escalate.
The last (paper) straw?
Despite noise from overseas and from many prominent figures in the US, it’s striking that Trump is enjoying a strong approval rating from voters.
A Roadrunner moment
Meetings in the White House reflected alarming complacency, while discussions with other analysts and advisors cited much greater downside risk.
High yield markets: staying focused in an ever-changing world
We discuss our views on key themes, pressure points in global high yield markets, and the outlook for the rest of the year.
European bond markets: five musings from April
As we reach month end, Neil Mehta, Portfolio Manager, provides small pieces that make up the big picture in European macro and fixed income markets.
Special situations: a favourable backdrop for European event-driven credit
With the second half of the year well underway, we look at distressed activity over the summer and the ongoing market opportunity in the asset class.
Overreach?
At a time of economic uncertainty, one thing we can continue to be confident about is that this new regime of political volatility is here to stay.
Monetising macro volatility in Trump 2.0
As a macro investor, Russel Matthews seeks to identify the best opportunities regardless of market backdrop. He shares his views on the year ahead.
What can be done to save ‘Broken Britain’?
Investing in the UK macro space is tough right now, and ‘Broken Britain’ will need a lot of work to become an attractive place to confidently invest.
How might ‘Trump Trades’ play out in the year ahead?
We highlight how the Republican policy framework could pan out under Trump, and the potential impact on macro markets.
Political risk going K-Pop
As the dust settles with respect to US political volatility, the past week has an explosion of developments in France, Romania, and South Korea.
The Fed and the Fall
A notable development at this week’s FOMC meeting was dissent from new member, Stephen Miran, who advocated for a more aggressive 50bps cut.
A 'cold' moment for Trump
The Trump administration is in an ebullient mood, on a sense that it is showing signs of winning the trade war it started in a global economy.
Polina’s Perspective: a pimple soup experience in China
The menu of investment opportunities in China needs close evaluation and a longer-term horizon but with careful selection, appetites can be satisfied.
European bond markets: five musings from January
As we reach month end, Neil Mehta, Portfolio Manager, provides small pieces that make up the big picture in European macro and fixed income markets.
European Bond markets: five musings from July
Neil Mehta, Portfolio Manager, provides small pieces that make up the big picture in European macro and fixed income markets for July.
European bond markets: five musings from May
As we reach month end, Neil Mehta, Portfolio Manager, provides small pieces that make up the big picture in European macro and fixed income markets.
The New World Order
Investors are happy to catch their breath for a moment, following a very active few months since Trump returned to the White House.
The Second Coming….(minus Armageddon one hopes!)
Market volatility is subsiding but uncertainty in policy and politics will continue when Washington returns from recess at the start of next year.
A White House comeback: our US fixed income perspective
The scale of the Republican win has taken markets by surprise. We look at potential regulatory changes, Europe’s reaction and Trump tariffs on China.
Making Conclave Great Again
The week saw some optimism around the US/UK trade deal, while in Germany, Friedrich Merz had a stumbling start to his new role as Chancellor.
5-D chess
Recent newsflow shows why the Fed can’t get pulled into a guessing game of the economy’s direction, based on survey indicators & policy announcements.
Little to celebrate on Liberation Day
European policymakers are readying robust countermeasures to US tariffs, while the Chancellor’s Spring Statement caused a stir in the UK.
Over-Cooked?
Trump’s firing of Fed governor Lisa Cook was the big news of the week, while in France, Bayrou made a decision to call for a Vote of Confidence.
Trump’s tariff tango
Many investors had taken a complacent view ahead of Liberation Day, yet the outcome was a complex array of tariffs at various rates on a global basis.
Trump Towers
We dissect the week when Trump made a historic political comeback, winning each of the battleground swing states and scoring a resounding victory.
Shifting Strategies: How institutions are embracing fixed income hedge funds
Trump 2.0, a song of fire and ice
There will be plenty of noise coming from Washington in the coming days, and we wait to see how this impacts markets, both domestically and overseas.
Don't be fooled by the calm on the surface
We believe Israel’s missile strikes aim to apply pressure on Iran towards a nuclear deal and an escalation to a wider Middle East war is unlikely.
Swiss cheesed
The case for more material US rate cuts through 2026 rests more on a perceived dovish pivot in US monetary policy, under a new Fed Chair.
Polina’s Perspective: a journey to maturity – reflections from the window seat
Following a recent trip to South America, Polina Kurdyavko, Head of EMD, reflects on the challenges and opportunities for emerging market countries.
Trump Slump!
The past week has seen no end to pronouncements around policy from Trump and his team, with fears of an escalating trade war unnerving investors.
Chain reactions
We are left considering the chain reaction of events this week, which may be triggered by changes and upheaval in policy, and in geopolitical circles.
