Iain Stealey, co-manager with Nick Gartside of the JPM Strategic Bond fund, looks at what lies ahead for fixed income investors in an environment of changing monetary policy.
Fixed income investors are wondering how to read the signals in today's markets to know the next turn in the road. Navigating the current landscape is a bit like driving a car - you need to remain vigilant to anticipate the traffic pattern ahead, while keeping an eye on your dashboard. Let's look at the main metrics to watch: • Speedometer: global economic growth is essentially going at the speed limit. Not accelerating too fast, but slowly gaining ground. G10 economic growth is marginally above trend, and expectations in the market are that lower growth will be the norm from here. ...
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