Asset Management: Monthly Letter – April 2019

Marc-Antoine Collard, Chief Economist, Head of Economic Research, Asset Management, Europe

Recent asset price swings highlight once more the extraordinarily tight relationship between central banks and financial markets. The Fed's capitulation was hailed by the stock market, which is tirelessly continuing its march to new heights. Yet, the reaction of the bond market has been markedly different, sending signals so far almost ignored by equity investors.

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