Free Falling Turkish Lira—What’s Next?
This paper by Jurgen Odenius, Economic Counsellor, Macroeconomic Team, PGIM Fixed Income, explores how, without comprehensive policy action, the free fall in the lira is likely to continue and risks unleashing a full-blown run on the banks and the $147 billion in resident dollar deposits. In principle, the policy options are clear but, as so often, all are politically costly, although to different degrees.
First Hand Perspective on Sub-Saharan Africa
As major central banks continue to withdraw policy accommodation, the sustainability of the external debt accumulated by frontier markets—particularly Sub-Saharan Africa—has come into question, prompting Giancarlo Perasso, Lead Economist, PGIM Fixed Income, to visit the region. In this video, Perasso provides his assessment of the fundamentals in Angola, Kenya, and Zambia and how our positioning aligns with these views.
Third Quarter Market Outlook
After a half year of ongoing global uncertainty, investors continue to find varied—and perhaps mixed—metaphors to explain the evolving fixed income landscape. In addition to the sector outlooks, this edition of the Quarterly Outlook, features perspectives by Chief Investment Strategist and Chief Economist.
Mexico's Peje-nomic Outlook
In this paper, PGIM Fixed Income discusses how Mexico’s relatively sound economic starting position, institutional safeguards, market discipline, and pragmatic approach to policymaking by the new administration will likely prevent any material deterioration of its macroeconomic fundamentals in the short term.