Markets have benefitted from a co-ordinated global recovery, led by central banks operating in a synchronised manner.
However, strong payroll and inflation data has materially changed the environment for interest rate duration sensitive assets and equities and we have seen rate hikes in the US, a more hawkish Bank of England and tapering from the European Central Bank. Investment Conundrums: Pacific AM's Bartleet on why his single largest concern is complacency in markets This has changed the focus from what has been a multi-decade easing cycle into tightening terrain. European collateralised loan obligations (CLOs) are one of our most favoured areas of fixed income as they are all floating rate,...
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