CPR AM managers continue to think that the US bond market should correct on the triple effect of the slowdown in future asset purchases, more lasting inflationary pressures than initially expected and the resumption of treasury bill issuance to finance the stimulus plans ...

CPR AM Deputy CEO Gilles Cutaya shares his convictions about a strategic choice that is ideally suited to meet the major challenges of our era.

While the idea that accommodative monetary policies imply an increase in inequalities, a research paper presented at the Jackson Hole central bankers conference reverses the causality and tends to suggest that it is the rise in inequalities that causes the decline in equilibrium interest rates.

Trading conditions in China have severely deteriorated. After reaching their peak by mid-February, stocks lost earlier gains in March, on evidence of a plateauing economy and as stretched investors' positioning unwounded. Chinese markets were then stuck in a volatile trading range until the summer when they suffered another -15% plunge.

Credit conditions for European banks are normalising and prospects for the second half of the year look bright. A return to pre-crisis operating income with higher loss absorption buffers accumulated during the crisis will facilitate management of NPLs.