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In Focus Monthly - May 2018

In Focus Monthly - May 2018

Since the financial crisis, central banks have slashed interest rates and purchased trillions of dollars-worth of bonds to stimulate the economy.

In this issue, our experts review how this is impacting emerging market bonds, European banks and more.

Year-to-date, emerging market bonds have dropped 5%. Read why we believe emerging Asia is less vulnerable than other emerging markets.

This edition considers continental European banks’ value. As the economy has sprung back to life, so have European banks.

As rising US Treasury yields represent the ebbing tide, our experts argue that certain corporate borrowers could be caught swimming without trunks in the credit market.

Copper’s cash price grew by 31% in 2017 as strikes and strong demand boosted the price. Read why we think it may descend again.

Ariel Bezalel of Jupiter also discusses the global bond markets and how he is positioning Jupiter Dynamic Bond Fund accordingly in an exclusive interview.

We hope you enjoy this issue.

Emerging Market vulnerabilities: wheat or chaff?

Since the financial crisis, central banks have slashed interest rates and purchased trillions of dollars-worth of bonds in order to stimulate the economy.

Equities: are European banks a value trap?


Even as growth in the continental European economy plateaus, there is evidence of increased demand across corporate lending, mortgages and consumer credit.

Investment grade credit – signs of late cycle?

After the worst start to the year from investment grade credit since 2008, many are wondering whether we are seeing cracks appear in credit markets.

Doctor Copper – 2017 was a big year...

According to International Copper Study Group, data mine supply utilisation averaged 81% last year. It has only ever been this low once in the last 20 years.