Bond Market Observations: Jingle, Jingle, Jingle
Authors and Contributors
Active Fixed Income-Investment Committee
Holly was already strewn about the breakroom by the time the Investment Committee met, but that was not the source of the relative good cheer. Across advanced economies, recent data on activity has been upbeat, consumers come across as confident, and meaningful fiscal impetus seems in motion in the US and, perhaps, elsewhere. Central bankers share the good feelings, in that Fed officials and ECB staff upgraded their outlooks for real growth (as had BOJ policymakers a few months ago). While the direct economic impetus of corporate-tilting tax cuts in the US is limited, it adds to the impetus from ongoing deregulation and lowers the chance that the White House resorts to activity-crimping executive actions with a legislative achievement in the bag.
On January 31, 2018, The Boston Company and Standish merged into Mellon Capital to form a combined entity, BNY Mellon Asset Management North America Corporation. Effective January 2, 2019, this entity was renamed Mellon Investments Corporation.