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In our latest FX Quarterly, our strategists provide their views on major events across developed and emerging markets in Q1 2018.
In our latest FX Quarterly, our strategists provide their views on major events across developed and emerging markets in Q3 2017.
A breakdown of ECB and Fed policy, an analysis of the Fed’s composition, key political events on the horizon, and what it all means for currency markets.
In our latest FX Quarterly, our strategists provide their views on major events across developed and emerging markets in Q2 2017.
A breakdown of the reflation story in the US, populism-nationalism in France and the broader eurozone, and Trump's Federal Reserve policies.
In an era of floating and occasionally volatile exchange rates, estimating the long run value of currencies is no easy feat.
In our latest FX Quarterly, our strategists provide their views on major events across developed and emerging markets in Q1 2017.
There is a sense of a larger wave that is washing across the world. It is populism-nationalism, the link between Brexit and the US election.
After the sharp sell-off due to the Brexit vote in June, EM gained some significant traction in H2 2016. This traction was driven largely by the perceived improvement in the global liquidity backdrop. Such a benign outlook is no longer the case.
In our latest FX Quarterly, our strategists provide their views on major events across developed and emerging markets in Q4 2016.
This is the single most important event for investors for the remainder of the year. The contest between Hillary Clinton and Donald Trump tightened in late Q3.
Emerging Markets have been buffeted by a variety of negative factors this year, but have remained resilient. The overriding factor is that the global liquidity backdrop remains supportive of “risk.” We expect this favorable outlook to continue (more ...
Favorable South Korean fundamentals should support the won. S&P recently upgraded Korea one notch to AA with a stable outlook, citing its sound fiscal position and flexible fiscal and monetary policies.
In our latest FX Quarterly, our strategists provide their views on major events across developed and emerging markets in Q2 2016.
Moving into the second quarter, we believe there are two broad forces that will shape the investment climate in developed markets: policy actions and politics.
The second half of Q1 has seen a bit of recovery from the emerging markets weakness seen in 2015 and early Q1, with the latest bounce taking place after the FOMC meeting. Still, we believe the four pillars of the cyclical EM rally remain badly damaged.
We offer an overview of what to watch for in Japan, including fluctuations in the yen, economic highlights, the current state of Abenomics and expectations for the nation’s negative interest rate policy.
Moving into 2016, we believe the main theme of divergence will remain in play across the global markets.
The broad interpretative framework we developed since late 2014, one that centers on the de-synchronization of the major economies, will retain its usefulness into the New Year and beyond. This follows the first phase of divergence which was ...
The Fed has embarked on its first tightening cycle since 2004-2006. With the pace and the terminal rate still unknown, we think a sustainable EM rally will remain elusive. We could see EM get some limited traction in late 2016 if the Fed is ...
As the world awaits lift-off by the US Federal Reserve, BBH Currency Strategists discuss what investors should expect in the coming months.
Marc Chandler looks across the globe at how the financial markets have changed in the past seven years.
Win Thin explains why we believe China will muddle through.
Whether the Fed hikes in October, December, or even early 2016,we believe the outlook for Emerging Markets (EM) remains negative throughout the fourth quarter.
As the world waits for the US Federal Reserve to lift rates, BBH Currency Strategists discuss what investors should expect in the coming months.
The theme of "divergence" that emerged in the second half of 2014 will continue to shape 2015. But with so many market participants in agreement on this direction, it will be important for asset managers to consider and prepare for developments ...
The Fourth Quarter edition of the FX Quarterly outlines BBH’s expectations that future expansion will be characterized by a divergence in the global economy.