FX Quarterly for Third Quarter 2017

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In this edition we highlight:

  • Five themes for quarter three – ECB and Fed policy, an analysis of the Fed’s composition, key political events on the horizon, and what it all means for currency markets.
  • A landscape of Emerging Market countries that has to be navigated carefully, with an eye toward strong economic fundamentals and low political risks.
  • Masashi Murata also offers an overview of Emerging Market countries.
  • Currency Forecasts and an analysis of productivity and wage growth.

Read the full Q3 2017 FX Quarterly.

FX Quarterly for Second Quarter 2017

2017-03-29_14-28-25In this edition we highlight:

Read the full Q2 2017 FX Quarterly.



Same Story, Different Ending: A Look Ahead

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As we approach the end of the first quarter, there is no doubt that the weak demand environment for equity borrowing which characterized the majority of last year has extended into 2017. Equity loan volumes in March were down 8.5% on the same period in 2016 with average loan fees down even further by 23%.* However, as Keith Haberlin, Head of BBH Global Securities Lending, explains, there are reasons to suggest that the underlying causes of the subdued demand environment thus far in 2017 are different than those in previous years and more temporary in nature.

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