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.
Contact us for more information on our fund range, or to speak to your local Client Adviser.
Follow us to receive the latest insights and news.
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.
For Professional Clients/ Qualified Investors only – not for Retail use or distribution.
This is a marketing communication and as such the views contained herein are not to be taken as advice or a recommendation to buy or sell any investment or interest thereto. Reliance upon information in this material is at the sole discretion of the reader. Any research in this document has been obtained and may have been acted upon by J.P. Morgan Asset Management for its own purpose. The results of such research are being made available as additional information and do not necessarily reflect the views of J.P. Morgan Asset Management.
Any forecasts, figures, opinions, statements of financial market trends or investment techniques and strategies expressed are, unless otherwise stated, J.P. Morgan Asset Management’s own at the date of this document. They are considered to be reliable at the time of writing, may not necessarily be all inclusive and may be subject to change without reference or notification to you.
The value of investments and the income from them may fluctuate in accordance with market conditions and investors may not get back the full amount invested. Past performance and yield are not a reliable indicator of current and future results. There is no guarantee that any forecast made will come to pass. J.P. Morgan Asset Management is the brand name for the asset management business of JPMorgan Chase & Co. and its affiliates worldwide. To the extent permitted by applicable law, we may record telephone calls and monitor electronic communications to comply with our legal and regulatory obligations and internal policies. Personal data will be collected, stored and processed by J.P. Morgan Asset Management in accordance with our EMEA Privacy Policy www.jpmorgan.com/emea-privacy-policy. This communication is issued in Europe (excluding UK) by JPMorgan Asset Management (Europe) S.à r.l., 6 route de Trèves, L-2633 Senningerberg, Grand Duchy of Luxembourg, R.C.S. Luxembourg B27900, corporate capital EUR 10.000.000. This communication is issued in the UK by JPMorgan Asset Management (UK) Limited, which is authorised and regulated by the Financial Conduct Authority. Registered in England No. 01161446. Registered address: 25 Bank Street, Canary Wharf, London E14 5JP.
09gw241811161910
