Fixed Income Insights

We see Sub-Trend Growth as becoming more likely at 60%, and have lowered the probability of Above-Trend Growth to 10%. We raised the probability of a Recession to 20% while Crisis remains at 10%.

Explore our range of active fixed income investing solutions designed to help global investors build stronger portfolio and manage risk effectively.

After dealing with uncertainty caused by Covid, inflation, a US regional banking crisis and a war in Europe, investors now need to adapt to uncertainty in US trade, fiscal, immigration and foreign policy; all at once.

Occasionally, macroeconomic and political uncertainty causes extreme moves that destabilise financial institutions and the economy. In recent days, US assets experienced significant volatility, prompting fixed income investors to question what might stabilise the bond market if the partial reversal of the Trump administration’s policies doesn’t suffice. This week’s Bond Bulletin explores past central bank interventions, causes of the current volatility and what it means for investors.

The situation around the consumer continues to be complex, with K-shaped outcomes persisting, necessitating rigorous and disciplined security selection in consumer credit investments.

The past month has been characterised by a significant pick-up in volatility in markets, due to growing concerns about an escalation of the global trade war. What is currently priced in?

This piece uses five charts from the Guide to the Markets to explain why, despite an uncertain economic backdrop, we still see compelling opportunities across the fixed income landscape.