September inflation readings were worrisome; September retail sales will be very important; regional Fed manufacturing surveys for October will start rolling out

September inflation readings remain in focus; Treasury concluded its coupon issuance this week with a successful 30-year auction; FOMC minutes were released; initial claims data are expected to show continued improvement in the labor market; Chile surprised yesterday with a hefty 125 bp hike to 2.75%

Five years after Fullgoal Asset Management’s first UCITS fund launch, Managing Director Michael Chow reflects on the firm’s success in targeting global investors and shares his distribution strategy and investment outlook

U.S. short rates continue to rise; September inflation readings will be closely watched; Treasury concludes a heavy auction schedule; FOMC minutes will be released; Fed officials seem unfazed by the jobs report; Chile is expected to hike rates 100 bp to 2.50%; higher carry across Latin America has not been enough to shift the downdraft on local currencies

U.S. rates continue to rise; Treasury has a heavy auction schedule this week; Fed speakers are plentiful; the House is scheduled to vote on the short-term extension of the debt ceiling today

Here's a look at the main drivers in Developed Markets this week.

Here's a look at the main drivers in Emerging Markets this week.

The Senate passed a short-term debt ceiling increase until December 3, as expected; higher US rates are helping the dollar; September jobs report will be the highlight; we believe that the bar to tapering has gotten pretty low; Canada also reports September jobs data; BOE warned of a potential correction in asset markets due to risk-taking at “elevated” levels

The dollar continues to strengthen, due in large part to the Fed’s undeniable steps towards tapering. Using the previous tapering episode as a roadmap, we see dollar strength persisting well into 2022 due to monetary policy divergences.

Reports suggest a deal has been struck to extend the debt ceiling; markets are looking for a solid September jobs report Friday; Mexico reports September CPI; Peru is expected to hike rates 50 bp to 1.5%; reports suggest the ECB is studying a new bond-buying program to help maintain orderly markets when PEPP ends next year

The hawkish wave continues to sweep more EM central banks, while isolating the remaining dovish few. In this report we elaborate on the recent changes in Poland, Colombia, Brazil, South Africa and South Korea.

ADP private sector jobs data will be the highlight; higher US rates are helping the dollar; reports suggest the Democrats are moving closer to a deal on fiscal stimulus; Colombia September CPI came in a tad above expectations at 4.51% y/y; eurozone data came in very weak

Amid new rules for cross-border funds in Europe, BBH’s Killian Lonergan sets out the gamechangers for distribution and how fund managers are partnering with external providers in their distribution efforts

September ISM services PMI will be the highlight; chatter is rising that Powell's chances of remaining Fed Chair have fallen due to the trading scandals; higher U.S. yields are lending some support to the dollar; U.K.-EU tensions continue to rise

The U.S. 10-year yield is trading around 1.50% as the new week begins; Fed speakers are limited this week; press reports the U.K. will trigger the so-called ‘nuclear’ option and unilaterally suspend parts of the Northern Ireland Protocol

Here's a look at the main drivers in Developed Markets this week.

Here's a look at the main drivers in Emerging Markets this week.

BBH Partner Jean-Marc Crepin in conversation with Capital Four CEO Sandro Näf about the growth of private credit.

The U.S. fiscal drama continues; our base case remains that the Democrats will eventually agree on a compromise; ISM manufacturing PMI will be the highlight; August core PCE data could help determine whether U.S. yields will continue rising

U.S. government shutdown has been averted, at least until December 3; there is a busy slate of Fed speakers; some key September readings will start to emerge; weekly claims data will be very important; Mexico is expected to hike rates 25 bp to 4.75%; Colombia is expected to hike rates 25 bp to 2.0%

The U.S. rates story has become the biggest driver for all asset classes; the rise in rates is taking a bit of a pause today; Fed Chair Powell came under fire from Senator Warren yesterday; Yellen warned her department that it will run out of cash October 18

The U.S. Congress has a big “To Do” list shaping up. Markets seem pretty sanguine that we can avoid another shutdown but that doesn’t mean it’s going to be smooth sailing. Here, we outline the likely outcomes and their implications for the markets. In short, the risk of a default or catastrophic outcomes remains mostly hyperbole.

U.S. 10-year yield continues to move higher; with the FOMC meeting out of the way, Fed speakers become plentiful but changes at the Fed are afoot; fiscal brinksmanship continues; Fed regional manufacturing surveys will continue to roll out; Brazil central bank minutes will be released; BOE continues to beat the hawkish drum;

U.S. 10-year yield traded today at the highest level since June 29 near 1.50%; the current move in U.S. rates and the dollar should perhaps be viewed through the lens of past tapering; with the FOMC meeting out of the way, Fed speakers become plentiful; Fed regional manufacturing surveys will continue to roll out; U.K. is taking emergency measures to deal with the energy crisis

Here's a look at the main drivers in Developed Markets this week.

Here's a look at the main drivers in Emerging Markets this week.

Markets are still digesting the Fed’s hawkish hold; U.S. 10-year yield traded today at the highest level since July 2 near 1.45%; with the FOMC meeting out of the way, Fed speakers become plentiful

We are approaching a major regulatory inflection point for digital assets in general, and decentralized finance (DeFi) may end up being the ultimate battleground.

The Fed delivered a hawkish hold, as we expected; we think if job growth improves to around 500k this month, the Fed will pull the trigger on tapering; Powell said that gradual tapering is likely to conclude around mid-2022; there was a hawkish shift in the Dot Plots; Fed regional manufacturing surveys will continue to roll out; Brazil hiked rates by 100 bp to 6.25%, as we expected; Mexico reports mid-September CPI

The two-day FOMC meeting ends with a decision this afternoon; new macro forecasts and Dot Plots will be released; U.S. is inching towards another possible government shutdown; Brazil COPOM is expected to hike rates 100 bp to 6.25%

Two-day FOMC meeting begins today and ends with a decision tomorrow afternoon; Democratic lawmakers submitted a stopgap spending bill that also includes the suspension of the debt ceiling until December 2022; Prime Minister Trudeau will once again head up a minority government in Canada; U.K. energy crisis is worsening

The dollar comes into this key week with strong upward momentum; the dollar is also benefitting from risk-off impulses emanating from China; Canada goes to the polls today; the Evergrande saga is leading to heightened concerns about the Chinese financial system and contagion to broader financial markets; we are firmly on the side of expecting strong government intervention

Here's a look at the main drivers in Developed Markets this week.

Here's a look at the main drivers in Emerging Markets this week.

Six major central banks meet next week. Their respective policy stances should underpin our strong dollar call as monetary policy divergences should continue.

August retail sales data are worth discussing; University of Michigan consumer confidence ties into this question about consumption; regional Fed manufacturing surveys for September are starting off strong; ECB denied hawkish comments attributed to Chief Economist Lane; new forecasts from last week’s ECB meeting are not consistent with the FT story

U.S. August retail sales data will be the data highlight; weekly jobless claims will also be reported; regional Fed manufacturing surveys for September will continue rolling out; minutes from the Chilean central bank’s latest meeting were unambiguously hawkish

August CPI is worth discussing; elevated PPI inflation suggests price pressures remain in play; regional Fed manufacturing surveys for September will start rolling out; Canada data highlight will be August CPI; Brazil rates were sharply lower after BCB President Campos Neto signaled he won’t overreact to the latest inflation print

August CPI will be closely watched; from what we can tell, supply bottlenecks will remain in place far longer than the market or the Fed expects

After the post-jobs report sell-off, the dollar has come roaring back; due to the media embargo ahead of the September 21-22 FOMC meeting, there will be no Fed speakers this week; the only U.S. data today is the August budget statement

Here's a look at the main drivers in Developed Markets this week.

Here's a look at the main drivers in Emerging Markets this week.

August PPI data will be the data highlight; Mester speaks today; Canada reports August jobs data; Brazil IPCA inflation surprised on the upside yesterday at 9.68% y/y; Peru hiked rates by 50 bp to 1.0%, as expected

The Fed Beige Book report painted a fairly upbeat picture for the September 21-22 FOMC meeting; speakers this week suggest the Fed is looking through the August jobs miss; July JOLTS job opening are worth discussing; weekly claims data should show continued improvement in the labor market; BOC delivered a dovish hold, as expected; Peru is expected to hike rates 25 bp to 0.75%

Now that the dust is settling after Brazil’s pro-government demonstrations, a clearer picture starts to emerge; it doesn’t look good to our eyes, but we may have reached a local maximum in tensions.

July JOLTS job opening will be reported; Fed releases its Beige Book report for the September 21-22 FOMC meeting; Fed speakers this week should reveal how the Fed is viewing the August jobs miss; BOC is expected to keep policy steady; yesterday’s large pro-government protests across Brazil were mostly peaceful

The U.S. returns from holiday facing higher yields and a firmer dollar; markets are still digesting the jobs data and the implications for Fed policy; Brazil’s political risk remains very elevated with protests scheduled for today (Independence Day)

Here's a look at the main drivers in Developed Markets this week.

Here's a look at the main drivers in Emerging Markets this week.

Markets are predictably quiet ahead of today’s U.S. payrolls data. The dollar is mixed in narrow moves. The Aussie is outperforming, perhaps in part boosted by a deal with the UK to secure four million doses of Pfizer. European equities and U.S. futures are a touch higher, but the Nikkei rose 2% on the prospect of a new prime minister (see below). Yields are a little changed across G10. In the commodity space, oil is hovering around $70 a barrel as the U.S. Gulf Coast grapples with the impact of hurricane Ida while gold was largely unchanged.

• Ethereum broke violently higher with multiple drivers still looking supportive; Crude prices stabilized this morning after a 2% drop yesterday on news that OPEC plans to boost crude production; Brazil's Q2 growth figures disappointed, but inflation remains the focus for now; Moody's cut Peru's credit rating by one notch; Eurozone PPI surprised on the upside, but the doves are firmly in control

August ADP jobs data will be the highlight; August ISM manufacturing PMI will also be key; Canada Q2 GDP data could have significant repercussions; Chile delivered a vigorous start to the tightening cycle by hiking 75 bp instead of the 50 bp expected

The dollar remains under pressure as real yields fall; August Chicago PMI will be the data highlight; Fed manufacturing surveys for August wrapped up yesterday with Dallas reporting; Banco de Mexico releases its quarterly inflation report; eurozone inflation readings for August came in higher than expected

Portfolio Manager, Michael Keller, discusses how the U.S. Large Cap Equity portfolio companies performed over the most recent month-end.

Our broad U.S. macro calls will be tested this week; Fed manufacturing surveys for August wrap up with Dallas reporting today; all eyes are on Hurricane Ida after it made landfall last night

Here's a look at the main drivers in Developed Markets this week.

Here's a look at the main drivers in Emerging Markets this week.

All eyes are on the Kansas City Fed’s Jackson Hole Symposium; some are looking for Powell to make an explicit tapering announcement this morning; yesterday, three FOMC hawks laid out the case for tapering sooner rather than later; July personal spending, income, and core PCE data will be the highlight; weekly jobless claims data are worth discussing

All eyes are on the Kansas City Fed’s Jackson Hole Symposium as it begins today; U.S. stocks continue to make new highs and now it's time for yields to play some catch-up; regional Fed manufacturing surveys for August will continue to roll out; weekly jobless claims data will be very important; Brazil August IPCA inflation accelerated by more than expected to 9.30% y/y

The U.S. 2-year auction yesterday saw very strong demand; Pelosi struck a deal with moderate Democrats that will allow the two infrastructure packages to move forward; Brazil reports mid-August IPCA inflation and July current account data

The Fed’s annual Jackson Hole Symposium begins this Thursday. While some may be looking for an explicit tapering announcement, we believe it will come later at the September 21-22 FOMC meeting. However, we expect Chair Powell and his colleagues to continue moving the tapering discussion forward and so a hawkish tone should emerge from the symposium.

Many markets remain rangebound ahead of Jackson Hole; regional Fed manufacturing surveys for August will continue to roll out; Mexico reports mid-August CPI

SPACs have existed in the United States since the early 2000s, but they have enjoyed a resurgence in popularity recently, and in spite of a slight cooling of SPAC launches they remain one of the most discussed trends across the market. Here we take a whistle-stop tour through the various aspects of the rise of the SPAC.

All eyes are on the Kansas City Fed’s Jackson Hole Symposium later this week; the September 21-22 FOMC meeting is a more likely venue to formally announce tapering; data this week are expected to show continued strength in the U.S. economy

Here's a look at the main drivers in Developed Markets this week.

Here's a look at the main drivers in Emerging Markets this week.

The same themes and price action direction prevailed overnight: delta-virus triggered selloff continues across assets combined with China’s crackdown against the tech sector. The Australian and New Zeeland dollars are underperforming, hit by increasing concerns about infections and declining commodity prices.

FOMC minutes are worth discussing; regional Fed manufacturing surveys for August will continue to roll out; weekly jobless claims data will be very important

July retail sales data are worth discussing; the U.S. economy should continue to post strong growth in Q3; FOMC minutes will be released; Canada reports July C

July retail sales data will be the highlight; the U.S. manufacturing sector remains strong; add Rosengren to the growing list of Fed officials calling for imminent tapering; CLP is testing its weakest levels for the year on the back of negative political headlines

Markets are starting the week with a modest risk-off tone; regional Fed manufacturing surveys for August will start rolling out.

Here's a look at the main drivers in Developed Markets this week.

Here's a look at the main drivers in Emerging Markets this week.

In a recent speech, SEC Chairmen Gensler returned to a corner of the market he knows extremely well, speaking at length about security-based swaps (SBS) reform.

Here's a look at the main drivers in Developed Markets this week.

Here's a look at the main drivers in Emerging Markets this week.

July jobs report is the main event; data will have a direct near-term impact on Fed policy the U.S. economy should continue to post strong growth in Q3; Canada also reports July jobs data

We got further confirmation that the FOMC is tilting more hawkish; U.S. Treasury quarterly refunding announcement came in as expected; ISM reported strong July services PMI but ADP jobs report suggests some caution is warranted; Brazil COPOM hiked rates 100 bp to 5.25%, as expected; BOE decision is due out shortly

Patience is a hallmark of our investment process. Read on to learn how delayed- delivery municipal bonds offer attractive return potential… you just have to wait for it.

The wider implications of yesterday’s hawkish hold from the RBA are worth discussing; within EM, the picture is mixed; ADP private sector jobs data is today’s highlight; ISM reports July services PMI; Brazil COPOM is expected to hike rates 100 bp to 5.25%

Markets should take note of the growing assertiveness of the Fed hawks; July ISM manufacturing PMI came slightly softer than expected; Colombia central bank minutes will be released

In the latest FX Quarterly, our strategists highlight the key factors driving global economies.

Markets are still trading off Powell’s dovish press conference rather than the hawkish insertion of tapering in the official statement; ISM July manufacturing PMI will be today’s highlight; the U.S. economy should continue to post strong growth in Q3

The EU’s Sustainable Finance Disclosure Regulation (SFDR) is unquestionably one of the most complex implementation projects asset managers operating in Europe have ever been tasked with.

Here's a look at the main drivers in Developed Markets this week.

Here's a look at the main drivers in Emerging Markets this week.

Portfolio Manager, Michael Keller, discusses how the U.S. Large Cap Equity portfolio companies performed over the most recent month-end.

Core PCE data for June will be the highlight; July Chicago PMI will also be reported; Q2 GDP was disappointing but still robust; Colombia is expected to keep rates steady at 1.75%; our cautious stance on Peru was warranted

In the second half of the year we expect securities lending focus to shift back to the fundamentals, buoyed by continued reopening of world economies.

Markets are still digesting the Fed’s hawkish hold; we believe that tapering and rate hikes will both happen sooner than the market expects; weekly initial jobless claims will be closely watched; we also get our first look at Q2 GDP; a compromise was struck on the traditional infrastructure package but the $3.5 trln “human infrastructure” package will face difficulties; Peru finally has an official president, and he continues to sound appeasing of market fears

InvestorView looks at the threat of inflation in the post-pandemic economy, discusses our approach to asset allocation and examines the estate administration landscape.

We speak with Kevin Duncan, the BBH Trust Company’s director and head of estate administration, about the role estate administration plays in helping families thrive for generations and why a corporate executor may be the best option in certain situations.

In the feature article of this issue of InvestorView, BBH Chief Investment Strategist Scott Clemons discusses the threat of inflation as we emerge from the COVID-19 pandemic.

The two-day FOMC meeting ends with a decision this afternoon; Powell and company face a delicate balancing act; U.S. data continue to come in firm; Canada reports June CPI

U.S. 10-year real yields fell to a new record low of -1.14%; two-day FOMC meeting begins today and ends with a decision tomorrow; market expectations for Fed policy are worth mentioning; Fed manufacturing surveys for July will continue to roll out

In this edition of InFocus, we answer some frequently asked questions related to new rules that certain Cayman entities must comply with in order to meet obligations under the Common Reporting Standard (CRS).

Here we discuss how the strategic use of automation can enable service providers to support their client’s growth.

U.S. 10-year real yields fell to a record low of -1.13% before recovering to -1.10%; the conflicting narratives will make the Fed’s job even trickier as it meets this week; Fed manufacturing surveys for July will continue to roll out

Here's a look at the main drivers in Developed Markets this week.

Here's a look at the main drivers in Emerging Markets this week.

The dollar is ending a good week on a solid note. DXY is trading just below 93 and is up two straight days and six of the past seven. Further gains are expected and it should eventually test the March 31 high near 93.437. The euro remains heavy after the ECB decision (see below) and the clean break below $1.18 sets up a test of the March 31 low near $1.1705. Sterling is having trouble breaking back above $1.38 as economic uncertainty picks up.

U.S. 10-year yield is trading around 1.30%; central bank divergence will be underscored today with the ECB decision; weekly initial jobless claims will be closely watched; Fed manufacturing surveys for July will continue to roll out; Republican Senators blocked debate on the infrastructure package; a battle over the debt ceiling is brewing; Mexico reports mid-July CPI data; Colombia announced a $4 bln tax plan to shore up public finances; the ECB decision should bring hints of further easing;

BBH Chief Investment Officer Suzanne Brenner and Deputy Chief Investment Officer Justin Reed review the markets and provide an update on our current portfolio positioning and priorities.

Given the absence of any fresh drivers, markets are continuing with the recent recovery in risk appetite; U.S. fiscal policy remains highly uncertain ahead of a key Senate vote; Peru’s elected leftist president Pedro Castillo had his victory finally confirmed after weeks of dispute; U.K.-EU relations are set to flare up again

Risk off impulses have quieted down, at least for now; U.S. stock futures are higher today after falling yesterday in sympathy with the general risk off mood; the U.S. fiscal outlook remains unclear

The dollar remains firm as the new week begins in risk off mode. DXY is up for the third straight day and is trading at the highest level since April 5 near 93. Further gains are expected as it moves toward a test of the March 31 high near 93.437. The euro remains heavy ahead of the ECB decision Thursday and the break below $1.18 sets up a test of the March 31 low near $1.1705. Sterling is also trading heavy as the government’s pandemic response comes under renewed scrutiny (see below). Cable is about to test the April 12 low near $1.3670 and further losses are likely. USD/JPY remains under pressure as risk off sentiment continues to take hold, though near-term support is seen around the July 8 low just above 109.50.

Co-Portfolio Managers, Andrew Hofer, Neil Hohmann and Paul Kunz provide an analysis of the investment environment and most recent quarter-end results of the Taxable Fixed Income Strategy.

Here's a look at the main drivers in Developed Markets this week.

Here's a look at the main drivers in Emerging Markets this week.

• Powell stuck to the same tone on the second day of his testimony, while Bullard said it was time to end emergency measures. More hawkish comments out of the BoE yesterday, pressured short-end rates higher. Cases in the UK rose to the highest in six months. The BoJ policy meeting was uneventful, with no policy change and some headlines around the “green lending plan”; Higher CPI numbers validate the RBNZ’s hawkish stance

Markets are still on board with Fed Powell’s reassuring message on inflation. The BoK kept rates unchanged while also tapering its bond purchases; Chile’s central bank joined Brazil and Mexico in their tightening cycle, while Turkey and Korea left rates unchanged, as expected. Crude continues its downward slide after U.S. supply data and signs that a supply deal on OPEC+ might be at hand

Floating-rate loans are offering better value than high yield bonds due to similar yields, protection from interest-rate risk, and the benefits of being a secured lender. Converging features of loans and bonds argue for more opportunistic loan strategies that can focus on the most attractive values from both market segments. To learn more about the value in the loan market and the convergence in high yield, please read on.

The growing hawkishness of many central banks globally is fully on display this month; U.S. inflation readings will remain in focus; U.S. Treasury completed its note and bond issuance for the week; the Fed releases its Beige Book report for the upcoming FOMC meeting; Chair Powell testifies before the House today and the Senate tomorrow; BOC is likely to taper again; Chile is expected to hike rates 25 bp to 0.75%

U.S. inflation readings will come into focus; we believe that the continued low rate environment will give the Fed more confidence to taper; U.S. Treasury issuance continues

This issue of Women & Wealth Magazine focuses on sustainability – both personal and global. We speak with the co-founders of Sakara Life about building a successful plant-based meal delivery business, explore how to build and maintain personal resilience, share insights on engaging the next generation in philanthropy and take a look at the sustainable clothing industry.

In the feature article of this issue of Women & Wealth Magazine, we speak with Danielle Duboise and Whitney Tingle, co-founders and co-CEOs of Sakara Life, who started the company with $700. Now, Sakara Life has delivered millions of organic plant-based meals nationwide, enabling customers to transform their lives through the power of food as medicine.

Struggling is not bad! We recently spoke with Karen Reivich, Ph.D., who talks about the how and why of regularly flexing and exercising your resilience skills, particularly during challenging times.

BBH Partner Kathryn George and Senior Wealth Planner and Director of Philanthropic Advisory Kerri Mast discuss how to best approach engaging the next generation in family giving – and some strategies for when it doesn’t go as you expected.

We speak with Trina Assur, co-founder of The Phoenix Brand, about what inspired her to launch the sustainable clothing line, the challenges of starting a business at the onset of COVID-19 and the importance of remaining true to your values and mission in a growing space.

The central bank divergence story is likely to come back into focus this week; U.S. Treasury note and bond issuance picks up again; the U.S. growth outlook for Q2 remains strong; Peru left rates unchanged Friday but the changes in forward guidance suggest officials are getting ready to hike soon; ECB asset purchases for the week ending July 9 will be reported; ECB President Lagarde is flagging further easing of some sort; U.K. will fully reopen July 19 even as Prime Minister Johnson urges caution

Here's a look at the main drivers in Developed Markets this week.

Here's a look at the main drivers in Emerging Markets this week.

We are approaching the weekend with markets searching for direction; jobless claims yesterday were mixed; consumer credit continues to grow; Canada reports June jobs data; Mexico June headline inflation came in at 5.88% y/y, slightly higher than expected and definitely enough to justify Banxico’s hawkish turn; Brazil inflation for June came in slightly below forecast at 8.35% y/y; Brazil intervened in FX markets yesterday for the first time since March to stem the sharp reversal of the real

The strong flattening trend in the U.S. yield curve that stated in mid-May has accelerated; FOMC minutes were released; some minor data will be reported; Mexico reports June CPI; Peru is expected to keep rates steady at 0.25%; ECB will announce the results of its strategy review; it also releases its account of the June 10 meeting

The divergence theme remains intact; FOMC minutes will be released; the bond market continues to confound; May JOLTS job openings will be reported; Canada reports June Ivey PMI; concerns about vaccine efficacy in Israel are giving global investors some trepidation

Here's a look at the main drivers in Developed Markets this week.

Here's a look at the main drivers in Emerging Markets this week.

We believe that the central bank divergence story will be one of the major drivers for FX in H2; US jobs data will be the highlight; other important snapshots for June point to underlying strength in the economy; Canada reports May building permits, trade, and June Markit manufacturing PMI; Fitch downgraded Colombia’s long-term foreign currency rating from investment grade (IG) to high yield (HY)

June ISM manufacturing PMI will be the highlight; weekly jobless claims data are expected to show continued improvement in the labor market; jobs data tomorrow are coming into focus; Fed speakers are likely to continue pushing the more hawkish narrative

Portfolio Manager, Michael Keller, discusses how the U.S. Large Cap Equity portfolio companies performed over the most recent quarter-end.

Portfolio Manager, James Evans, provides the most recent quarter-end results of the Inflation-Indexed Fixed Income Strategy

Portfolio Manager, Gregory Steier, provides an analysis of the investment environment and most recent quarter-end results of the Municipal Fixed Income strategy.

ADP reports June private sector jobs; Chicago PMI will also be reported; U.S. equities made another all-time high yesterday; Fed officials continue to tilt hawkish; NYT article today plays up a split on the FOMC; Canada reports April GDP