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Our Central Bank Monitors are valuable indicators for global fixed income country allocation, and currently favor core European government bonds and US Treasuries. 

In the FX space, the Central Bank Monitors can enhance returns of a simple carry strategy. Currently, that enhanced carry strategy favors USD, NZD & GBP, funded using JPY, EUR & CHF. There is some momentum left for carry trades to outperform in the very near term, but risks of a reversal are rising.