Over the next year or two, asset prices will no longer be driven by economic stats and monetary policy. Three major rotations are likely to continue and gather pace.

As we sit today with some unprecedented market conditions, it's probably more relevant than ever to understand both sides of the risk and return equation in the fixed income space.

There may be rocks ahead. Reconnecting risk and return must be the right focus - but thinking conventional tools will keep us out of trouble may be a mistake.

People often ask me about my outlook for the US housing market. The outlook is improving - and that's constructive for consumer spending, confidence and jobs.

To ensure risk is genuinely well diversified takes a sophisticated forward-looking scenario-analysis process to combine quantitative rigor with qualitative insights of extreme stresses it might face.

Over the past 40 years, the high-yield landscape has grown exponentially. Knowing the key risks and emerging opportunities can help map a path forward.

Uncertainty about the timing of future interest rate rises poses challenges to fixed income investors. This paper identifies options available in managing portfolios in such an environment.

Risk assets are grinding higher and volatility is extraordinarily low - and monetary stimulus is still plentiful. What does life after zero (rates) look like?

The escalating conflict in Ukraine has focused attention on a fundamental question: What are the Kremlin's long-term objectives?

Investing can and often is intellectually compelling. But it should not be driven by excitement, as it is for many individuals.

Are we at the start of a long-term bond bear market? Here are three factors that I expect to keep bond yields lower for longer, and five important implications for investors.

The upcoming US/China 6th Strategic & Economic Dialogue is an opportunity for serious reconsideration of the relationship between the world's two most powerful countries.

The Islamist surge through central Iraq has the potential to upset the plans of investors who've convinced themselves that volatility is in the past.

Investing differently gives no certainty of great results (increasing the odds of being wrong as well as right). But it is a necessary but not sufficient ingredient for great performance.

Moving to a twenty-first-century currency system would make it far simpler to move to a twenty-first-century central-banking regime as well.

Tomorrow we expect to see the latest Band-Aid solution being applied to the eurozone. Forgive me if I don't roll out the barrel. As I see it, there are four key problems.

Markets are pricing in expectations that the ECB will have to be very aggressive next week if it is to turn back the tide of European deceleration. It's reminiscent of October 1987.

Nobody is more outspokenly bearish on Japan than Kyle Bass. He recently reiterated doubts about Japan's chances of averting a debt crisis, and cast doubt on China's economy.

Understanding what is going on under the bonnet at central banks is key to understanding what will drive markets – and therefore how to best position portfolios.

Faced with the prospect of rising yields, some investors are cutting bond allocations. But the bond market can offer compensation against rising rates.