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Investment Outlook 2020
What are the most pressing issues facing investors globally and how will they evolve in the year ahead? Our asset class heads provide their views on the investment themes to watch in 2020.
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ECB — one for the specialists
Andrew Mulliner, Portfolio Manager Global Bonds, shares his views on the outcome of today’s European Central Bank meeting, which as he explains was expected to be the hors d’oeuvre of the ECB’s policy review; in reality it was more akin to a notification that the ECB would be cooking dinner.
Global prospects 2020: a game of two halves
Andrew Mulliner, Portfolio Manager within Global bonds, believes that 2020 will prove to be a year of two halves with a rosier outlook likely later in the year. He cautions, however, that attractive opportunities might be harder to come by given downside risks such as a re-escalation of trade wars and uncertainty from the US elections.
Fed policy to cast a shadow over 2020
Co-Head of Global Bonds Nick Maroutsos identifies the opportunities and risks he sees for fixed income investors in 2020 as the US Federal Reserve’s near-term policy path remains far from certain.
US Fed decision hits the wrong target
While Co-Head of Global Bonds Nick Maroutsos agrees with the US Federal Reserve (Fed) holding benchmark rates steady, he is concerned that the risk to short-term lending markets will remain elevated until the central bank addresses issues in the market’s post-crisis infrastructure.
Strategic Fixed Income outlook 2020 — no reflation without a soft dollar
Jenna Barnard and John Pattullo, Co-Heads of Strategic Fixed Income, share their thoughts on bond markets in the coming year; where they see risks and opportunities and where they look for clues.
Keep your cash in play
With the yields on short-dated investments very low or negative in Europe, managers of the Janus Henderson Absolute Return Income strategy explain how moving along the risk spectrum into an actively-managed, low volatility fixed income strategy could be a potential solution for investors seeking to make their defensive assets work harder over the medium term.
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Finding value in bonds amid negative rates
Jim Cielinski, Global Head of Fixed Income, provides his perspective on key macroeconomic factors driving fixed income markets.
Generating returns in a low rate environment
In this round-table discussion, Nick Maroutsos, Dan Siluk and Jason England, portfolio managers on the Absolute Return Income strategy, talk candidly about matters affecting markets and how these are influencing their investment decisions.
A hawkish rate cut
A pause after October’s rate cut in the US may make sense in the short term, but greater accommodation may be necessary over the long haul.
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High yield: blurred lines in valuations create opportunities
In this video update, Tom Ross, corporate credit portfolio manager, looks at conditions in the high yield bond market, exploring how technical conditions, dispersion among credits and blurred lines in valuations are creating opportunities.
The role of bonds in a negative rate world
Despite the ultra-low interest rate environment, Jim Cielinski, Global Head of Fixed Income, discusses bond’s role as a diversifier in a broad portfolio.
The perceived lunacy of negative yields
John Pattullo, Co-Head of Strategic Fixed Income, explores the phenomenon of negative-yielding bonds; how they came about, why anyone might buy them and whether they are here to stay.