Central bankers successfully tamed inflation in the late 1980s and early 1990s. Persistently low inflation is the new problem. With markets complacent about the inflation outlook, signs of inflation could create a scare.

Christian Hawkesby, Harbour Asset Management | 2 comments | 0.50 CE

Markets are focused on the economic cycle as an indicator of central bank actions. But inflation should be the most important macro indicator on the radar of investors.

Christian Hawkesby, Harbour Asset Management

uilding NZ fixed interest portfolios is harder than it has ever been… Portfolios need to be constructed for the specific needs of clients, which will typically be a combination of liquidity, income, quality, and diversification

Christian Hawkesby, Harbour Asset Management | 0.75 CE

With NZ fixed interest portfolios arguably harder to build than ever before, this paper introduces a framework for practitioners to build fixed interest portfolios for to meet the needs of individual clients.

Christian Hawkesby, Harbour Asset Management

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.

Christian Hawkesby, Harbour Asset Management

Looking beyond the immediate risk of Fonterra's product safety issues, over the medium-term, we continue to see sufficient global and domestic economic momentum to support higher bond yields.

Christian Hawkesby, Harbour Asset Management

The reaction of bond and equity markets in May highlights the almost impossible balancing act faced by the US Fed now the amount of monetary stimulus is so extreme.

Christian Hawkesby, Harbour Asset Management | 2 comments

As the US economy continues to recover from the GFC, the US Fed faces an almost impossible balancing act. Closer to home, the RBNZ faces an almost impossible balancing act of its own.

Christian Hawkesby, Harbour Asset Management