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George Efstathopoulos
Blog 1 min read

Chart Room: Is disinflation lurking around the corner?

In a bullish signal, the bond market’s short-term expectations for US inflation are back near pre-crisis levels. But are investors being overly optimistic?

George Efstathopoulos + 3 others | 24 September 2020

Anna Stupnytska
Blog 2 min read

Near-zero rates expected through 2023 amid Fed concern about the economy

Fed offers forward guidance following shift in inflation targeting framework.

Anna Stupnytska | 16 September 2020

George Efstathopoulos
Blog 2 min read

Chart Room: Emerging market currencies lag on inflation risks

EM countries are using some of the same monetary and fiscal measures as developed markets. But this could add to rising inflation and currency weakness.

George Efstathopoulos + 3 others | 10 September 2020

Monica Li
Blog 4 min read

Chinese banks are due for national service

As governments around the world exhaust their policy arsenals to save economies, China is reaching for a secret weapon unrivaled by most countries.

Monica Li + 2 others | 31 July 2020

Anna Stupnytska
Blog 1 min read

Fed in a holding pattern, for now

Trajectory of the recovery remains uncertain despite better employment figures in May.

Anna Stupnytska | 10 June 2020

Stuart Rumble
Blog 1 min read

Chart Room: QE expectations vs. reality, market moves

Market expectations of future asset purchases by the Fed have an even greater influence than the purchases themselves.

Stuart Rumble + 2 others | 4 June 2020

Eric Wong
Article 5 min read

Central banks in emerging markets hop on the bond-buying bandwagon

EM central bankers are taking a page from the developed-market playbook and purchasing local bonds as a way to cushion the blow

Eric Wong + 4 others | 29 May 2020

Anne Richards

CEO update podcast: Anne Richards on resilience and reinvention

Fidelity CEO Anne Richards explores what has to change in supply chains, corporate aims, and capitalism itself.

Anne Richards + 2 others | 12 May 2020

Amit Goel
Article 4 min read

How India’s economy is navigating Covid-19

As the world begins to come out of lockdowns and economies normalise, India can offer bright spots for emerging market investors.

Amit Goel + 4 others | 7 May 2020

Anna Stupnytska
Blog 2 min read

ECB: Whatever it takes, a thousand times over

ECB introduces pandemic emergency refinancing operations.

Anna Stupnytska | 30 April 2020

Raji Menon
Blog 1 min read

Macro briefing: Central banks prepare for further action as economic outlook darkens

The Eurozone economy contracted at the fastest rate on record in Q1

Raji Menon | 30 April 2020

Andrea Iannelli
Blog 1 min read

Liquidity briefing: Spread levels improve

A market liquidity update from the Fixed Income team at Fidelity

Andrea Iannelli | 27 March 2020

Stuart Rumble
Blog 1 min read

Chart room: The dash for dollars

Currency basis swap rates reflect dollar liquidity squeeze.

Stuart Rumble + 2 others | 27 March 2020

Fidelity International
Blog 3 min read

China and its neighbours reboot supply chains

As China’s economy emerges from lockdown, activity across Asia’s sprawling network of factories, ports and logistics hubs is picking up.

Fidelity International + 1 other | 23 March 2020

Katsumi Ishibashi
Blog 4 min read

Bank of Japan’s coordinated easing signals more proactive asset purchases

Today’s move by the Bank of Japan to boost asset purchases underscores a globally coordinated effort by central banks to contain the coronavirus fallout.

Katsumi Ishibashi | 16 March 2020

Timothy Foster
Blog 1 min read

Fed dusts off crisis playbook with massive liquidity injection

Ultra-low interest rates and asset purchases will be with us for a long time yet.

Timothy Foster | 12 March 2020

Kate Howitt
Blog 3 min read

As gold’s surge draws wider interest, miners shine too

Gold's lustre is also rubbing off on the companies that dig it up from the ground.

Kate Howitt + 2 others | 12 March 2020

James Durance
Blog 2 min read

Will ECB's Lagarde reach for the bazooka to avoid European liquidity crisis?

Tomorrow Christine Lagarde, head of the ECB, gets her chance to calm markets. Will she reach for the bazooka?

James Durance | 11 March 2020

Anna Stupnytska
Blog 2 min read

UK Treasury and BOE unveil ‘comprehensive’ stimulus package to combat virus effects

BOE and Treasury action on the same day signals the policymakers’ preparedness to respond.

Anna Stupnytska | 11 March 2020

Andrew McCaffery
Video 9 min watch

Andrew McCaffery + 2 others | 10 March 2020

Anna Stupnytska
Blog 3 min read

Your move, governments

Markets are reacting to two shocks in one day: an oil price drop and coronavirus risk. They form a clear catalyst for fiscal policy action.

Anna Stupnytska | 9 March 2020

Anna Stupnytska
Blog 1 min read

Fed's emergency cut is a strong signal to markets

The US Federal Reserve has issued an emergency 50bps cut to allay coronavirus fears ahead of its monetary policy meeting in March.

Anna Stupnytska + 1 other | 3 March 2020

Paras Anand
Blog 2 min read

When the playbook stops working

Why did markets wait so long to sell off in the wake of the Covid-19 coronavirus outbreak?

Paras Anand | 24 February 2020

Lynda Zhou
Blog 4 min read

China’s financial support targets second-order fallout from coronavirus

China’s healthcare workers have been struggling to contain the spread of coronavirus. Now, policymakers are grappling with the second-order financial effects.

Lynda Zhou + 1 other | 4 February 2020

Wen-Wen Lindroth
Article 3 min read

Fed prolongs expansion for those left behind

Fed funds rate remains unchanged amid strong labour market.

Wen-Wen Lindroth + 1 other | 29 January 2020

Ian Samson
Blog 2 min read

Fidelity Leading Indicator: Still strong but approaching the limit

The Fidelity Leading Indicator's acceleration is circling back towards zero after a period of strong improvement.

Ian Samson + 1 other | 14 January 2020

Katsumi Ishibashi
Blog 3 min read

Bank of Japan holds its firepower but stresses it is poised to fight if needed

Bank of Japan holds its firepower but stresses it is poised to fight if needed

Katsumi Ishibashi | 31 October 2019

Sajiv Vaid
Blog 2 min read

Low bond yields are here to stay, even if fiscal stimulus returns

Even if fiscal stimulus makes a return, we think low bond yields will stay because of central bank action and late-cycle effects

Sajiv Vaid | 30 October 2019

Andrea Iannelli
Article 3 min read

European Central Bank: Goodbye Mario, good luck Christine

ECB leaves rates unchanged at Draghi's final meeting.

Andrea Iannelli | 24 October 2019

Paul Greer
Blog 2 min read

Hunting for yield in frontier markets: Egypt

When smaller frontier markets mature into benchmark names, early investors can earn attractive returns in these relatively niche, often overlooked places.

Paul Greer + 3 others | 15 October 2019

Wen-Wen Lindroth
Blog 2 min read

Mounting risks in 2020, despite central banks’ best efforts

Mounting risks in 2020, despite central banks’ best efforts. Investors should be ready in case as the macroeconomic and political environments evolve.

Wen-Wen Lindroth | 4 October 2019

Alvin Cheng
Blog 3 min read

China tiptoes down easing street with rate reform

While the Fed and ECB are signaling more rate cuts and quantitative easing to come, China’s central bank has been taking a more cautious approach.

Alvin Cheng + 2 others | 2 October 2019

Katsumi Ishibashi
Blog 3 min read

Bank of Japan holds fire ahead of sales tax increase, but strikes a more dovish tone

The BOJ held steady and said it would pay “closer attention” to economic momentum and review economic and price trends at the next monetary policy meeting.

Katsumi Ishibashi | 19 September 2019

Alvin Cheng
Article 4 min read

No pain, no gain: Chinese defaults are rising and recovery rates are falling

Part of a white paper offering in-depth research on defaults in China - why they are happening and what investors should do about it.

Alvin Cheng + 4 others | 16 September 2019

Ian Samson
Blog 3 min read

Fed Chair Powell strikes the right balance at Jackson Hole

Probability of December rate cut has increased.

Ian Samson | 23 August 2019

Bryan Collins
Blog 3 min read

Is seven an unlucky number for China’s currency?

China’s renminbi weakened past the seven per US dollar mark for the first time in more than ten years.

Bryan Collins + 4 others | 5 August 2019

Paras Anand
Article 1 min read

Investment Outlook Q3 2019: A delicate balance

The Investment Outlook is our flagship quarterly outlook publication that outlines our views on all the major asset classes and details the 'house view'.

Paras Anand + 7 others | 25 July 2019

Oscar Hutchinson
Blog 2 min read

Gold still has space to shine on

We see more upside for gold, thanks to a potent cocktail of falling interest rates, rising long term inflation expectations and heightening recession concerns.

Oscar Hutchinson | 17 July 2019

Bill McQuaker
Blog 2 min read

Central banks keep the show on the road, for now

Equity and bond markets don’t agree on what we should expect for the second half of the year. How should investors position in light of these mixed signals?

Bill McQuaker | 26 June 2019

Ian Samson
Blog 1 min read

Fed flashes easing signals

The Federal Reserve kept rates on hold as expected and also signaled that cuts - not hikes - are around the corner, amid signs of weakening economic activity.

Ian Samson + 1 other | 19 June 2019

Ian Samson
Blog 1 min read

Central bank fears, calmer GEARs?

Our proprietary Gauges of Economic Activity in Real-Time (GEARs) show the latest Global GEAR looks stable and decently above its recent lows.

Ian Samson + 1 other | 19 June 2019

Alvin Cheng
Blog 3 min read

In Baoshang Bank takeover, China takes aim at moral hazard

The recent move by regulators in China to take over Baoshang Bank marks a significant event in the development and liberalisation of China’s capital markets.

Alvin Cheng + 1 other | 5 June 2019

Ian Samson
Blog 2 min read

EM outlook: For China and the Fed, old habits die hard

China and the US Federal Reserve are falling back on old habits, which should provide some desperately-needed comfort to emerging markets.

Ian Samson | 30 April 2019

Ian Samson
Blog 2 min read

EM outlook: Easier conditions, tougher growth

After a challenging end to last year, the start of 2019 has brought some tentative stability to emerging markets. But it is too early to issue the all-clear.

Ian Samson | 8 April 2019

Bill McQuaker
Blog 2 min read

For things to get better, they may have to get worse

The market rally continues. But after a decade of QE, is there a limit to how long markets will respond positively to the same old policies?

Bill McQuaker | 25 March 2019

Anna Stupnytska
Article 1 min read

The Fed's message is solidly dovish; for now

The Fed stuck to its solidly dovish message in March, in line with market expectations. However, it risks leaving itself little room for manoeuvre.

Anna Stupnytska | 20 March 2019

Bryan Collins
Blog 3 min read

A Goldilocks moment for China’s monetary policy, but watch for more easing and bond index inclusion

Two events are driving the outlook for China fixed income- easing monetary conditions and the expected inclusion of Chinese bonds in benchmark indexes.

Bryan Collins + 4 others | 14 March 2019

Ian Samson
Blog 2 min read

Fidelity Leading Indicator: Red lights, not green shoots

Signs of more dovish central banks may have got markets more excited, but our FLI has not moved.

Ian Samson + 1 other | 11 March 2019

Anna Stupnytska
Blog 2 min read

Will the change in message come back to haunt the Fed?

The Fed's dovish message was a remarkable shift, and likely unnecessary as not much has changed over the past few weeks in terms of the economic outlook.

Anna Stupnytska | 30 January 2019

Eugene Philalithis
Blog 2 min read

Income and yield are not the same thing

Although higher rates imply higher income generation as yields rise, we have not seen income from coupons keep up with the rise in rates.

Eugene Philalithis | 17 January 2019

Eva Tam

Bull and bear cases for China in 2029

Fidelity analysts give bull and bear cases for consumption, financial, and property sectors in China in 2029

Eva Tam + 1 other | 17 January 2019

George Efstathopoulos
Blog 4 min read

2019 China Outlook- Time to enter the tiger’s den?

We explore the opportunities in China equities and fixed income in 2019.

George Efstathopoulos + 3 others | 10 January 2019

Katsumi Ishibashi
Blog 3 min read

BOJ holds steady, with limited scope for any policy moves

BOJ holds steady, with limited scope for any policy moves

Katsumi Ishibashi + 1 other | 20 December 2018

Anna Stupnytska
Blog 2 min read

Fed delivers a hawkish surprise, with dovish elements

Fed delivers a hawkish surprise, with dovish elements

Anna Stupnytska | 19 December 2018

Ian Samson
Article 2 min read

China and emerging market GEARs deteriorate in December

Emerging market economic indicators deteriorate in December

Ian Samson | 19 December 2018

Ian Samson
Blog 3 min read

EM Outlook: It’s been a long time coming, but a change is going to come

Risks remain to the downside for emerging markets due to China’s slowing growth and toughening global conditions.

Ian Samson | 28 November 2018

Romain Boscher
Article 3 min read

Equities Outlook 2019: US corporate earnings drive the stock market story

Fidelity International's outlook for equities in 2019 shows how US corporate earnings growth will slow to around 8 or 9 per cent.

Romain Boscher | 26 November 2018

James Bateman
Article 3 min read

Multi Asset Outlook 2019: Complacency on inflation stalks markets

Fidelity International's multi asset outlook for 2019 examines the risk of a shock to markets from higher-than-expected inflation.

James Bateman | 26 November 2018

Bryan Collins
Blog 4 min read

China's easing has not been easy

China’s deleveraging drive has softened, but credit to private companies remains weak. Bigger banks could be pushed to step in.

Bryan Collins + 4 others | 20 November 2018

Paras Anand
Article 3 min read

Inverting the pyramid

Investors may be misunderstanding the central narrative defining the current market and are therefore at risk of missing opportunities.

Paras Anand | 14 November 2018

David Buckle
Blog 3 min read

The Fed offers anniversary gift 10 years after global financial crisis

Fed offers anniversary gift 10 years after global financial crisis

David Buckle | 26 September 2018

Anna Stupnytska
Blog 1 min read

Further Fed tightening could prove too much for the rest of the world

The Fed will have to strike a more cautious tone, slowing the pace of tightening next year - but we are not there yet.

Anna Stupnytska | 26 September 2018

Ian Samson
Blog 1 min read

GEAR levels show exuberant US economy

Recent economic data show an exuberant US economy, stabilisation in emerging markets and only a slight tick-down in Europe.

Ian Samson + 1 other | 25 September 2018

Paras Anand
Blog 2 min read

Ten years since the crisis: the risks have changed

Investors and policy makers have learned their lessons, but we may be looking in the wrong direction for the next dislocations.

Paras Anand | 31 August 2018

Katsumi Ishibashi
Blog 3 min read

No exit: Japanese banks continue to feel pain from BOJ’s easy policy

Japan’s banks need to innovate to thrive in the low interest environment rather than wait for the eventual end of the Bank of Japan’s easy monetary policies.

Katsumi Ishibashi | 29 August 2018

Andressa Tezine
Blog 2 min read

Turkey's policy response falls short

Turkey’s escalating financial crisis has raised concerns over contagion as selling has spread more broadly across emerging markets in recent days.

Andressa Tezine | 14 August 2018

Paul Greer
Blog 3 min read

Turkey crosses the Rubicon

Turkish markets spiral downwards with the lira now in a full blown crisis. The solutions are simple, but is there the political will to implement them.

Paul Greer | 10 August 2018

George Efstathopoulos
Blog 3 min read

Policy tweaks open new opportunities in China and Japan

Recent easing measures in China should support Asian high yield bonds, while we also see value in Japan financials bolstered by the BOJ's ETF purchases.

George Efstathopoulos | 6 August 2018

Anna Stupnytska
Blog 1 min read

No surprises as the Fed sticks to the plan, for now

There were no surprises as the Fed stuck to the plan, and for good reason: data is strong and inflation on track.

Anna Stupnytska | 1 August 2018

Katsumi Ishibashi
Blog 2 min read

The Bank of Japan fine-tunes monetary policy but sticks to aggressive easing

The Bank of Japan kept its easy monetary policy while tweaking its framework to give itself more flexibility, emphasising that normalisation is nowhere near.

Katsumi Ishibashi | 31 July 2018

Anna Stupnytska
Blog 1 min read

The ECB’s monetary policy is needlessly loose

The European Central Bank’s (ECB) unnecessarily loose monetary policy may leave it out of options when the next downturn comes.

Anna Stupnytska | 27 July 2018

Paul Greer
Blog 2 min read

Turkey’s interest rate hold is a policy mistake

Turkey’s inaction on the benchmark interest rate is a major policy mistake, undoing much of the good of the rate rises in Q2.

Paul Greer | 24 July 2018

David Buckle
Article 9 min read

Easy days could soon be over: central bank policy normalisation

Easy monetary policy could soon be over, with huge consequences for debt, asset prices, inflation and much else.

David Buckle + 2 others | 11 December 2017

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