Re-funding pressures are already elevated for Treasuries. So much so that we identify a 25bp concession already implicit in ...
The problem for Treasuries is a 3% primary deficit plus 3% interest rate costs exceeds the typical 4.5% GDP expansion. That ...
German Bunds remain still face structural headwinds, but there are aslo arguments for stabilisation versus risk free rates ...
Dutch pension funds are preparing for significant reforms, and given their sheer size, swap markets will be impacted.
Spreads to US rates have shot wider, and we see little reason for them to narrow any time soon. In fact, the trend suggests ...
We forecast steeper curves as the ECB lands just below neutral and upward pressures from higher UST yields spill over to the ...
Eurozone bond performance is now less about general trends than individual country stories where a relative reordering has ...
Sovereign related and supranational issuers are not just caught up in the reassessment of sovereign risk but also face ...
Three calls for the Dutch economy in 2025: consumption, inflation and productivity growth After two years of shallow ...
The central bank's policy statement was more dovish as it acknowledged that inflation is moving sustainably towards target ...
USD: China respite. The dollar was a little softer against most currencies on Monday after Chinese policymakers said they ...
An overview of what 2025 holds for rates, including curve shapes, the spreads environment in derivatives, and the eurozone SSA space. We’ll also delve into US debt dynamics and funding pressures, and ...