* The ECB meets. Nothing is expected in particular, other than the traditional excitement surrounding the color of tie that ECB President Draghi will be sporting at the press conference. The minutes of the last meeting showed an inclination to raise rates at the end of the year. Trade tensions are perhaps worse since that […]
Today, at Commerzbank’s first Belt & Road Initiative (BRI) workshop, Michael Reuther, Member of the Board of Managing Directors responsible for Corporate Clients, opened the event commenting: “We want to enable our clients to gain better access to the opportunities BRI provides”.
In 2018, Commerzbank signed a memorandum of understanding with the Industrial and Commercial Bank of China to support projects linked to the BRI.
Commerzbank finances approximately 30% of Germany’s foreign trade and is the leading finance provider for corporate clients in Germany.
* US President Trump has drawn up a little list of things US consumers can be taxed for buying. The latest round of tariffs are directed at the European Union, following a World Trade Organization ruling against subsidies for Airbus. Whether the US president’s newfound enthusiasm for the WTO will last if the WTO rules […]
* The resignation of the US homeland security secretary may not seem directly relevant for markets. If it is a signal of a tougher policy in immigration, it may matter. Near-term uncertainty about the Mexican border raises risks for NAFTA trade. That uncertainty has already affected corporate capital spending decisions. * German trade data is […]
Nonfarm payrolls increased by 196,000 in March, slightly above consensus estimates and close to the average of 203,000 per month over the last eight years.
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Emerging market (EM) hard-currency bonds have been one of the best-performing fixed income asset classes globally over the last 15 years.
EM bonds’ information ratio, which weighs annualized returns against annualized volatility, has outperformed many comparable developed market fixed income segments in terms of both total and risk-adjusted returns.
Notwithstanding defaults, wars, and global crises, the NBER paper finds that the average real yearly return on a global portfolio of hard-currency EM sovereign bonds was 6.8% over the entire sample.