The euro area and US central banks have applied similar monetary policy tightening over the past 18 months with distinctly different results. We see three key reasons why

US budget deficit may mean yields stay higher for longer

Modest rate cuts would be justified in this scenario, says US investment giant

Some strategic bond funds are more effective than others

Opportunities exist though caution is advised

US investment giant says value could be unlocked in European equities

4.5% may not be necessary