The recent increase in global yields was overdue, given the solid expansion of the global economy, recovering inflation and the case for monetary policy normalization strengthening.
Market Perspectives February 2018
Global View highlights
- Global yields are finally rising, propelled by a solid global expansion, recovering inflation and the
gradual withdrawal of central banks as massive buyers of sovereign debt. - A portfolio tilt towards riskier assets should still pay off over the coming weeks.
- Given the strong performance of equities and lower rated bonds and a still sanguine market stance towards central banks’ policy normalization, however, we favor a somewhat more prudent stance in active exposure than in December.
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