Headwinds buffet emerging-market debt
Higher interest rates can challenge any fixed-income market, but rate increases in advanced economies can cause particular difficulty for emerging markets.
Higher interest rates can challenge any fixed-income market, but rate increases in advanced economies can cause particular difficulty for emerging markets.
While retail sales have been rather weak, key elements of consumer spending on services, including housing, are growing.
A recent public spending plan in China suggests authorities may be revisiting old habits.
Despite jittery global markets, we believe consumer and trade data point to a balanced and healthy U.S. economy.
We have concerns about the indirect approach of the European Central Bank as it seeks to use a weak euro to stimulate growth.
The Fed may be downplaying signs of inflationary pressures that have been building in recent months.