The investment world seems split into two camps about markets and the economy: A bottom-up, micro view that sees a broad upturn, and a macro perspective seeing continued slow growth and very low interest rates. Who’s right?
Read the complete white paper at the link beneath Related Files
While trade frictions attracted the most attention, the primary and outsize drag on global growth in 2018 was the self-imposed slowdown China began in mid-2017. Intended as a gentle cooling, the deleveraging and derisking program overshot; China’s private sector — 60% of its economy — iced up.
Credit spreads came under pressure in November from issues plaguing markets throughout the year — geopolitical worries about Italy and Brexit, expectations of slower growth and inflation, US-China trade tensions, and a hawkish Fed.
Fixed Income Asset Allocation Insights is a monthly publication that brings together the cross-sector fixed income views of PineBridge Investments.
Copyright © 1997–2020 IPE International Publishers Limited, Registered in England, Reg No. 3233596, VAT No. 685 1784 92. Registered Office: 1 Kentish Buildings, 125 Borough High Street, London SE1 1NP
