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Our Global Outlook for 4Q19
We expect global growth to be resilient, given the strength of the consumer globally and ongoing commitments from central banks worldwide to provide accommodative policy support.
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Webcast Replay
Market & Strategy Update with CIO Ken Leech
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On the Fed’s Changing Reaction Function
John Bellows, Western Asset Portfolio Manager, details the factors contributing to a shift in how the Federal Reserve (Fed) will likely respond to economic indicators in the future.
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Life After LIBOR
Western Asset Product Specialist Tom McMahon explains the history of the LIBOR reference interest rate, which will be phased out in 2021, and describes the likely replacements.
Nov 20, 2019
MARKETS
Nov 19, 2019
MARKETS
Nov 18, 2019
STRATEGY
The Cyclical Case for Emerging Markets
A longstanding theme of emerging markets (EM) investing is premised on supportive secular factors. In the decade prior to the Fed Taper Tantrum of May 2013, EM assets had enjoyed an uninterrupted episode of robust performance. During this period, USD-denominated sovereign debt returned a handsome 9.5% per annum, while local currency government debt posted an eye-popping gain of 11.4% per annum, according to the JPMorgan EMBIG and GBI-EM indices. What was the critical impetus that helped EM debt to assert itself as an asset class?
