IGM Credit, IGM FX and Rates

China Insight: USD/CNH to Keep Rallying on Failure to Reach Trade Deal

By Tim Cheung 14 May 2019

US President Trump tweeted on 5 May that tariffs on the USD200bn in Chinese imports will rise from 10% to 25% on 10 May and that an additional USD325bn of goods will get a 25% tariff shortly. Trump attributed his decision to the slower-than-expected progress of the US-China trade negotiations and China's attempt to renegotiate. US Trade Representative Lighthizer and US Treasury Secretary Mnuchin had implicated on 6 May that Chinese officials tried to re-open negotiation on areas that had already been negotiated. In the eyes of US negotiators, Chinese officials' moves represented an erosion of commitments by China and a big change in direction for the negotiation.

IGM FX and Rates

The Context

By Andy Hicks 13 May 2019

The Context, our Financial Intelligence newsletter, contains thought leadership articles spanning a host of asset classes.

PSN Enterprise - Separate Account Analytics Software, Zephyr...

Ryan Nauman's Weekly Recap 05.13.19

By Ryan Nauman 13 May 2019

The upcoming week is heavy on economic data releases including soft data like the NFIB small-business index, consumer sentiment index, and the leading economic indicators index. Additionally, the popular retail sales report for April will be released, which will provide us with some insight into the mindset of the consumer. Finally, we get more data on a manufacturing sector that has been weighed down by higher input costs and difficulties hiring skilled workers. Also, many eyes will be following twitter for any updates on the trade front coming from the White House, as the stakes continue to increase. Read more from Ryan Nauman's Weekly Recap and subscribe to have it delivered to your inbox each week!

EPFR Fund Flows

Quants Corner

By Sayad Baronyan 09 May 2019

The last Federal Open Market Committee did not have major updates on the outlook of the economy. No major changes on the forecasts on the economic growth or outlook, and no major changes on the future trajectory of the interest rates.

IGM Credit, IGM FX and Rates

China Insight: Peak of Loosening Already Behind Us

By Tim Cheung 07 May 2019

The Politburo held a regular meeting on economic affairs on 19 April. Besides reiterating structural deleveraging, the Politburo once again adhered to the orientation that houses are used for living, not for speculation. Following the Politburo's warning on preventing speculation in property, both Chinese property equities and bonds retreated during the following trading days. In our view, China's top leaders are getting wary again of the risk of being overleveraged if the property developers increase their land acquisition aggressively in order to meet the rising home demand in the prevailing looser monetary environment.

PSN Enterprise - Separate Account Analytics Software, Zephyr...

Ryan Nauman's Weekly Recap 05.06.19

By Ryan Nauman 06 May 2019

The upcoming week is a little light on economic data releases, however, the week is heavy on Federal Reserve speeches with Chairman Powell speaking on Thursday, which will capture the eyes and ears of investors after last week’s FOMC meeting. Earning announcements continue this week as we enter the final quarter of the cycle. Read more from Ryan Nauman's Weekly Recap and subscribe to have it delivered to your inbox each week!

EPFR Fund Flows

Identifying Stock Crowding

By Cameron Brandt 06 May 2019

Creating Strategies to Mitigate Distortion

LendersBenchmark™

Lenders Benchmark Midyear Home Equity Market Update

By Shaun Richardson 06 May 2019

EPFR Fund Flows

Flows for Europe Equity and Bond Funds diverge sharply going into May

By Cameron Brandt 03 May 2019

Flows for Europe Equity and Bond Funds diverge sharply going into May European stocks ended April with their fourth consecutive monthly gain as markets digested the inconclusive outcome of Spain’s general election, some better than expected first quarter earnings reports and data showing growth in the Eurozone rebounded during the first three months of the year. EPFR-tracked Europe Equity Funds, meanwhile, ended April by posting their 12th consecutive outflow and 61st in the past 63 weeks while Europe Bond Funds chalked up their biggest inflow since 1Q15 and second biggest since EPFR started tracking them.

EPFR Fund Flows

SRI/ESG Investing

By Cameron Brandt 02 May 2019

SRI/ESG funds offer millennials the ride they've been asking before, but in what direction? 

EPFR Fund Flows

Quants Corner

By Sayad Baronyan 30 Apr 2019

We are nearing the end of April, but it already feels like summer in the financial markets. Last week, US stocks had risen close to record levels. Similarly, European and Emerging Market stocks also rose more than 10% since their sell-off back in Q4-2018.

PSN Enterprise - Separate Account Analytics Software, Zephyr...

ESG Investing: Asset Managers Answering the Bell for the Growing Demand

By Ryan Nauman 30 Apr 2019

Over the course of the past few months we have dissected the performance and risk and discussed the benefits and potential pitfalls of ESG investing. In our final ESG piece, we look at the growing popularity of ESG investing and look at some of the top performing ESG managers in this space. Read more...

IGM FX and Rates

The Context

By Andy Hicks 29 Apr 2019

The Context, our Financial Intelligence newsletter, contains thought leadership articles spanning a host of asset classes.

Mapa Research

Getting Strong Customer Authentication Right

By Chris Ward 29 Apr 2019

The biggest challenge for European banks in 2019 is getting Strong Customer Authentication (SCA) right. New EU legislation is changing how customers will authenticate themselves and actions when banking and shopping online. Our latest piece by Chris Ward digs into the challenge and what he believes will help get banks get it right.

IGM Credit, IGM FX and Rates

China Insight: Deleveraging Re-emphasized as The Risk of Slowdown Reduced

By Tim Cheung 29 Apr 2019

The Politburo held a regular meeting on economic affairs on 19 April, two days after the better than-expected 6.4% Q1 GDP growth was released. We here below list out the key takeaways from the meeting: China will maintain policy support for the economy, which still faces many difficulties and problems, despite the better-than-expected Q1 growth - Bolder and more effective measures must be taken to implement the proactive fiscal policy and the prudent monetary policy will be neither too tight nor too loose - The goal of making financing easier and cheaper for private enterprises and SMEs was reiterated - China will push forward structural deleveraging and adhere to the orientation that houses are used for living, not for speculation while reaffirming a city-based approach in controlling the property sector