Argentina: 5 Key Questions
The unexpected and shocking defeat of President Macri and his center-right party in the Argentine primaries on August 11 has led to a significant repricing of Argentina assets. In addition to providing revised macro forecasts given PGIM Fixed Income’s base case that the Fernandez ticket wins the October election, we provide perspective on 5 key questions regarding how events may unfold in Argentina going forward.
The Fed's About-Face Complete Amid Dissent
PGIM Fixed Income discusses market disappointment with the Fed’s 25 bp rate cut on July 31, 2019. Short-term yields rose amid reduced expectations for cuts. However, long rates declined, suggesting that the less-dovish-than-expected Fed could dampen inflation and growth over the long run.
The ECB Steps Toward September Easing
In this piece, PGIM Fixed Income explores a package of easing measures the ECB will likely initiate in September 2019. In sum, a first rate cut in September combined with tiering is all but a foregone conclusion. A decision on asset purchases is now highly likely, but it may come only in December, depending on how quickly a consensus can be forged.
How Will Real Estate Debt Perform in the Next Downturn?
PGIM Real Estate's Jackie Brady, Executive Director, Business Development, and Andrew Radkiewicz, Global Head of Private Debt Strategy and Investor Solutions, discuss the investor appetite and risk characteristics of real estate debt and how the asset class may perform in the next economic downturn.