Temporary easing in international bond markets. Correlations remain high among major markets. Inflation still moderate. Avoid the Eurozone and the high yield segment.
- Interest rate markets broadly benefitting from uncertainty in October
- US market offers very attractive opportunities
- Long-term interest rates likely to tighten in the Eurozone
- Adjustment of long-term rates in the UK
- Prospects still poor in Japan
- Favour the US market over the Eurozone and avoid high yield