COVID-19 is triggering a new era of central banking. We believe this will play out just as powerfully in the euro area as elsewhere.
Now that the UK has avoided (at least for now) a hard Brexit as it negotiates to extend Article 50, investors might reasonably wonder whether they can relax for a moment and take stock of the bigger picture. What sort of longer-term future does the European Union (EU) have, irrespective of the UK?
How will bond portfolios react if the US election triggers further market mayhem? Fallout from Brexit taught us valuable lessons about extreme market shocks.