Explore core fixed income insights from our portfolio managers and research analysts.
There is already a dispersion between US and European growth. Now, following a Republican election sweep, that differential could become even wider. The potential for tax cuts and trade tariffs means the US faces risks of above-trend growth and potential reinflation, while these policies create a further challenge for a European economy that is already struggling. As a result, cross-Atlantic economic policies and their implications require careful monitoring.
In response to these macroeconomic conditions, our portfolio’s global rates strategy now favours European over US duration. This positioning reflects our assessment of relative growth prospects and inflationary pressures, as well as the potential impact of US trade policies on European economic stability.
Portfolio Manager,
Global Fixed Income Currency and Commodities
Investment Specialist,
Global Fixed Income Currency and Commodities
Policies will impact both growth and inflation
Source: IMF, October 2024, World Economic Outlook. Includes cumulative effects of tariffs, trade policy uncertainty, renewal of US TCJA, lower immigration and global financial conditions
Find out how we’re positioning our core fixed income portfolios, based on our latest economic and market views.
Inflation and labour markets have remained stubborn for some time, causing many major central banks to delay the start of their monetary easing cycles. However, there are signs that these key measures are beginning to ease, which paves the way for fixed income markets to deliver attractive risk-adjusted returns. We believe a strategy with an active approach to investing across the global fixed income spectrum is best placed to capitalise on the opportunities that could emerge as the tide turns for the asset class.
Research-driven security selection and disciplined risk management are at the heart of our fixed income portfolio building blocks. Download a chart pack or explore the fund for more information.
For further information about any of the funds featured above, or any of our fixed income range, please contact your local representative.
For investors evaluating portfolios as bond market conditions evolve, J.P. Morgan Asset Management offers fixed income solutions that span the risk spectrum, underpinned by the deep resources and rigorous research of a truly global platform.
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