Antoine Bouvet

Headlines surrounding the abundant risks to the outlook dictate near-term direction, but we see a trend toward lower rates. The Senior Loan Officers Survey highlighted the squeeze on growth prospects....

We assess this year's market themes against our 2023 outlook calls. Rates remain range-bound, and curves have only steepened moderately, but rates differentials keep narrowing. We expect little...

As higher-for-longer gains further traction, yield curves are bear flattening again. Only moderately, though, as risk sentiment holds up with the acute banking crises fading from viewHigher-for-longer...

The US Federal Reserve could soon deliver the last hike of the current cycle. While United States 10-Year yields have seen their peak already, it will need the imminent prospect of rate cuts to...

US yields are rising across the curve but T-bills are at the intersection of a better economic outlook and a debt ceiling. Sterling rates are now offering a pick-up to dollar equivalents. This makes...

Markets are still waiting for the data smoking gun that proves that a recession is coming and that inflation is a problem of the past. Until then, rates should continue to rise toward the top of their...

After the US regional banking crisis and the forced takeover of Credit Suisse sent shockwaves through global markets, concerns over the risk of contagion rippled across the financial sector. Fears may...

While the Fed and Bank of England have provided hints that they are near the end of their hiking cycles, the European Central Bank's policy stance remains too easy for comfort in light of still-hot...

No banking contagion news allows rates to jump back, but we doubt more than one Fed hike can be priced by the curve. This means the 2Y hovering around a 4% yield. Euro rates have more upside on a...

Much Needed Relief but Only Time Will Tell if This LastsThere was a palpable sense of relief in financial markets yesterday as bond yields retraced a good chunk of their recent drop, credit indices a...