id_home_story

Schroders: Bepaalt geopolitiek of beleid momenteel de obligatierentes?

Thu, 02 Jul 2026 09:18:33 +0200

Nu een oplossing in het Midden-Oosten steeds waarschijnlijker lijkt, bekijkt James Bilson, Global Unconstrained Fixed Income Strategist bij Schroders, hoe de obligatiemarkten kunnen reageren zodra de aandacht niet langer op de geopolitieke situatie is gericht.

MFS: Als de Fed zwijgt, wat moeten beleggers dan?

Wed, 01 Jul 2026 09:16:43 +0200

Benoit Anne, beleggingsstrateeg bij vermogensbeheerder MFS, geeft commentaar op de vage houding van de Fed:

Harry Geels: DNB approves its own inequality policy

Wed, 01 Jul 2026 09:05:43 +0200

_{This column was originally written in Dutch. This is an English translation.}

By Harry Geels

It is often claimed that monetary policy exacerbates inequality. According to recent research by DNB, this assertion is incorrect. However, there are some points to be made regarding DNB’s view.

PIMCO: Will monetary policy uncertainty lead to tighter financial conditions?

Tue, 30 Jun 2026 09:07:35 +0200

By Tiffany Wilding, Economist at PIMCO

Kevin Warsh’s first Federal Reserve meeting as chair mattered less for the rate decision than for what he revealed about how the Fed intends to operate. Warsh signaled a shift toward less guidance and more flexibility: a simplified policy statement, no forward guidance (including not submitting his own rate path projection), and new task forces to reassess key Fed operations. The task forces were likely designed specifically to question internal consensus and create tension – 'good family fights', according to Warsh.

RBC BlueBay AM: Obligatiemarkt prijst te veel renteverhogingen in

Fri, 26 Jun 2026 12:03:51 +0200

De obligatiemarkten prijzen nog altijd extra renteverhogingen in, maar volgens Mark Dowding, CIO bij RBC BlueBay Asset Management, begint die verwachting steeds minder houdbaar te worden.

UBS AM: Stagflation, diversification and USD weakening

Fri, 26 Jun 2026 09:17:22 +0200

UBS Asset Management (UBS AM) released the key findings for its 32^nd Reserve Manager Survey as the bank concluded the annual Reserve Management Seminar (RMS) held in Wolfsberg, Switzerland. This event is one of the industry's longest running and most successful gatherings for sovereign institutions, which was attended by representatives from more than 50 institutions.

PIMCO: Bank of England reaction

Fri, 19 Jun 2026 09:03:19 +0200

Peder Beck-Friis, Economist at PIMCO, comments on the Bank of England's interest rate decision:

Columbia Threadneedle: Hoge rente gunstig voor selectieve obligatiebeleggers

Thu, 18 Jun 2026 15:19:38 +0200

De vooruitzichten voor obligaties blijven aantrekkelijk, ondanks de aanhoudende onzekerheid rond inflatie en het rentebeleid van de Amerikaanse centrale bank. Dat zegt Gene Tannuzzo, Hoofd Obligaties bij Columbia Threadneedle, in zijn outlook voor de tweede helft van 2026.

Farseer: Bank of England hold interest rates

Thu, 18 Jun 2026 13:39:20 +0200

Following today's decision by the Bank of England to hold interest rates at 3.75%, Matej Trbara, Co-founder of Farseer, shares his thoughts on what this means for UK businesses moving forward:

DNB: Vergroot monetair beleid de ongelijkheid?

Thu, 18 Jun 2026 09:12:37 +0200

De afgelopen jaren is er veel discussie over de vraag of het beleid van de Europese Centrale Bank ongelijkheid vergroot. Lage rentes en aankoopprogramma’s zouden vooral gunstig zijn voor huishoudens met veel vermogen, en minder voor anderen. Maar klopt die aanname? Nieuw onderzoek van DNB zet dit beeld in perspectief.

Invesco: Fed zal beleid niet wijzigen, maar wel zorgen voor meer onzekerheid

Wed, 17 Jun 2026 12:31:19 +0200

Hoewel de Fed wellicht verdeelder en politieker lijkt, en minder bereid of minder in staat is om de markten even duidelijk te sturen als voorheen, zijn wij van mening dat de bezorgdheid over blijvende institutionele schade overdreven is, aldus Benjamin Jones, Head of Research of Invesco.

Aberdeen: UK inflation lower than expected

Wed, 17 Jun 2026 12:21:17 +0200

Luke Bartholomew, Deputy Chief Economist at Aberdeen, comments on the UK inflation figures:

Janus Henderson: Centrale banken leggen hogere bodem onder de goudprijs

Thu, 11 Jun 2026 09:10:53 +0200

Jarenlang was de relatie tussen goud en de reële Amerikaanse rente opvallend voorspelbaar: hoe lager de reële rente, hoe sterker de steun voor goud. Sinds 2022 is die inverse relatie minder strak geworden.

Han Dieperink: Why a hawk like Warsh is cutting interest rates

Tue, 09 Jun 2026 10:03:13 +0200

_{This column was originally written in Dutch. This is an English translation.}

By Han Dieperink, written in a personal capacity

Kevin Warsh has been sworn in as the seventeenth Chair of the Federal Reserve. But anyone who interprets his appointment as a victory for looser monetary policy has not been listening carefully. He stands for the exact opposite.

DNB: De nasleep van de inflatiepiek en de rol van monetair beleid

Wed, 03 Jun 2026 09:14:30 +0200

De Europese Centrale Bank (ECB) heeft tussen juli 2022 en september 2023 flinke ingrepen gedaan om de inflatie terug op het gewenste niveau te krijgen. In een nieuwe DNB-analyse kijken we terug op hoe dit beleid heeft uitgepakt en wat we daarvan kunnen leren, ook met oog op de nu weer oplopende inflatie.

Crédit Mutuel AM: Central Banks under pressure as inflation risks re-emerge

Tue, 26 May 2026 09:11:12 +0200

The task facing central banks over the coming months will not be an easy one. On the one hand, inflation risks are rising; on the other, growth forecasts continue to be revised downward.

Harry Geels: Inflation isn’t just about the money supply

Tue, 26 May 2026 11:20:23 +0200

_{This column was originally written in Dutch. This is an English translation.}

By Harry Geels

Milton Friedman often said: ‘Inflation is always and everywhere a monetary phenomenon’, a statement that is often misquoted as ‘inflation is a policy’. It is a powerful statement with a grain of truth, but the story of inflation is broader than that.

PIMCO: A new Fed chair, a new tone but familiar anchors

Fri, 22 May 2026 14:49:35 +0200

By Richard Clarida, Global Economic Advisor at PIMCO

This week, Kevin Warsh becomes chair of the U.S. Federal Reserve Board of Governors. We expect he will take a thoughtful but distinctive approach to monetary policy and seek, over time, to shift Fed strategy in several areas. But any change will be evolutionary, not revolutionary.

Ethenea: Two central bankers, two approaches

Fri, 22 May 2026 09:23:38 +0200

The Fed is facing its most significant change in leadership in decades. With Warsh comes not just a different person, but a different understanding of what a central bank should do.

Payden & Rygel: Value in IG credit

Wed, 13 May 2026 09:09:27 +0200

IG corporate bonds remain a compelling source of income and portfolio resilience in 2026, even as macroeconomic and geopolitical uncertainty persists.

Charles Bean: Donald Trump is playing a dangerous game

Wed, 13 May 2026 06:03:52 +0200

^{This interview was originally written in Dutch. This is an English translation.}

US President Donald Trump is playing a dangerous game with his attempt to drive down interest rates. The dollar’s reputation as a global reserve currency is at stake. No one knows exactly how this will turn out, but there is good reason for concern.

By Joost van Mierlo

Harry Geels: Four monetary mechanisms that exacerbate inequality

Tue, 05 May 2026 15:22:36 +0200

_{This column was originally written in Dutch. This is an English translation.}

By Harry Geels

In our society, there are various structures that perpetuate inequality. The monetary system is one of them. It favours the ‘haves’ over the ‘have-nots’ through inflationary policies, support for financial markets, and financial repression. Monetary policy also supports banks, including through monetary bailouts.

Aegon AM: We do not expect policy changes from Fed, ECB & BOJ

Wed, 29 Apr 2026 15:15:40 +0200

It’s a busy week for central bank watchers. The BOJ had kicked off on Tuesday morning, with no policy changes in Tokyo. Later this week the Fed, ECB and BOE will have their meetings. We do not expect policy changes from these banks. But even without any changes these are important meetings for many reasons.

Carmignac: Centrale banken houden pauzeknop ingedrukt

Wed, 29 Apr 2026 08:59:02 +0200

Door Kevin Thozet, lid van het beleggingscomité bij Carmignac

Deze week staat in het teken van rentevergaderingen van de Federal Reserve, de Europese Centrale Bank, de Bank of Japan, de Bank of England en de Bank of Canada. Grote beleidswijzigingen worden niet verwacht.

Han Dieperink: A hawk or a dove?

Tue, 28 Apr 2026 15:21:29 +0200

_{This column was originally written in Dutch. This is an English translation.}

By Han Dieperink, written in a personal capacity

The US Senate has approved the appointment of Kevin Warsh as Chair of the Federal Reserve. But who exactly is Kevin Warsh, and what can we expect from him?