Federal Reserve Bank of Dallas’ Post

"Confidence in Bonds Is Tumbling" The global bond market seems to be at a critical juncture, as shown by this chart. The rising ratio of gold to Treasuries reflects a troubling reality: investors are losing confidence in government debt, even with increased transparency efforts. In the UK, Reeves’ “tax and spend” budget highlights that transparency alone won’t reassure markets when growth is sluggish, and debt projections are high. The post-speech reaction gilt yields surging after the Office for Budget Responsibility report reveals just how uneasy markets remain. In the U.S., Yellen’s cautious approach may offer temporary stability, but the underlying debt trajectory remains unsustainable. Meanwhile, China’s stimulus focus on debt replacement rather than growth only deepens skepticism. Each major economy faces its challenges, but the underlying issue is the same: investor patience is wearing thin, and confidence in bonds is eroding. Are we approaching a turning point where traditional safe-haven assets are being reassessed? #Investing #Bonds #MarketConfidence #FiscalPolicy #Gold #GlobalEconomy

"The reports of my death are greatly exaggerated." --The US Dollar Among the factors that influence the asset mix of a thoughtfully designed global macro portfolio, the manager’s long-term dollar thesis is key. As for our long-term (the next cycle) macro view, we -- despite our opening quote -- anticipate a weaker trending dollar... Which, as you'll see in Part 5, can make for a global investment setup rich in opportunity. So why the weak-dollar view? Well, and make no mistake, it's definitely not because the dollar is in any near-term risk of losing its reserve currency dominance. Click below to continue... #economy #development #power #economy #economics #macroeconomics #markets #investing #money #business #Fed #federalreserve #monetarypolicy #centralbanks #inflation #marketoutlook, #financialmarkets #stockmarket #equities #valuation #SP500 #interestrates #bondmarket #commodities #realestate #homeprices #foreignexchange #continuingeducation #financialanalysis #CPA #CFP #CFA #RIA #profits #earnings

The 2024 Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) took place in Washington D.C. from October 21 to October 26. Celebrating the 80th anniversary this year of the United Nations Monetary and Financial Conference (the “Bretton Woods Conference”) which approved the establishment of the IMF and World Bank in Washington as key elements of the post WWII world order as a component of the UN system, global financial authorities were handed a generally positive assessment of the state of the world economy after several sustained and painful waves of global pandemics and crises, albeit with numerous provisos: https://lnkd.in/dzcGSqSw

Big news from Friday on IMF surcharges! No doubt this will be one of several huge topics of discussion next week at the Annual Meetings. I'll be in DC next week alongside colleagues Jon Hay Francesca Young George Collard and others reporting for GlobalCapital's sister publication, GlobalMarkets (you know us - the one that magically appears under your hotel room door each morning). We'll be printing (yes, PRINTING) newspapers every day of the meetings, covering all sorts from markets, economy, development finance, climate finance, multilateralism, and more... Drop me a DM or write to oliver.west@globalcapital.com if you're up for a coffee/drink/chat/interview or if you have a burning opinion or story you want to get off your chest. https://lnkd.in/g8q_iB-r #emergingmarkets #developmentfinance #climatechange #IMF #WorldBank #BrettonWoods #capitalmarkets

Hey everyone! 🌟 Have a read of my latest article on the inversion and uninversion of the yield curve and its implications for the U.S. economy. Your thoughts and feedback are welcome! https://lnkd.in/gXjEaaX5

In a tale of two halves, European bond markets started the year strongly before persistent macroeconomic challenges impacted issuers in the second half of the year. To see the major trends and analysis on the European bond markets, and PwC UK 's outlook for 2024, download #PwCDebtWatch here:

In a tale of two halves, European bond markets started the year strongly before persistent macroeconomic challenges impacted issuers in the second half of the year. To see the major trends and analysis on the European bond markets, and PwC UK 's outlook for 2024, download #PwCDebtWatch here:

In a tale of two halves, European bond markets started the year strongly before persistent macroeconomic challenges impacted issuers in the second half of the year. To see the major trends and analysis on the European bond markets, and PwC UK 's outlook for 2024, download #PwCDebtWatch here:

In a tale of two halves, European bond markets started the year strongly before persistent macroeconomic challenges impacted issuers in the second half of the year. To see the major trends and analysis on the European bond markets, and PwC UK 's outlook for 2024, download #PwCDebtWatch here:

In a tale of two halves, European bond markets started the year strongly before persistent macroeconomic challenges impacted issuers in the second half of the year. To see the major trends and analysis on the European bond markets, and PwC UK 's outlook for 2024, download #PwCDebtWatch here: