The document discusses the potential for the terminal rate to increase and the bond risk premium to turn positive. It analyzes the Fed's policy rate adjustments, GDP growth, and the bond risk premium's historical correlation with the US current account deficit. The document includes tables and figures on Fed rate cycles, credit spreads, equity risk premiums, and the Euro's position relative to rates. It also covers the impact of rising yields on credit spreads and the equity risk premium, as well as the influence of the dollar cycle on oil prices.
documents/vol00010-efta01458995-pdf.pdf
{"title":"World Outlook 2016: Managing with less liquidity","document_date":"2015-12-08","document_type":"tabular","key_organizations":["Bloomberg Finance LP","Deutsche Bank Research"]}