central banks

Climbed 1.1% to $1.201

Investment grade remains attractive

Annual summit takes place this week

Korea performed well

Attractive economic backdrop

With many asset classes having been pumped up to high valuations by central bank stimulus, we are concerned that investors are no longer receiving particularly generous rewards for taking market risk.

Central banks have a 'task and a half'

Concern about stretched valuations

While the yield attractions of equities have rarely been so strong relative to bonds, it is undoubtedly right that a significant amount of commentary is currently devoted to record levels of net debt and shrinking dividend cover.

Central bank action has reduced volatility