Economic data and market expectations have shifted dramatically in the past few months. Gross domestic product growth figures have disappointed while inflation has surged, causing some commentators to blow the dust off a long-neglected word 'stagflation'. Markets brought forward tightening expectations, but central banks are sticking to the ‘transitory inflation’ line – for now. So who has the better handle on the economic outlook?
The Fixed Income Investment Strategy Group (ISG) brings together investment professionals from across the global fixed income platform and other Janus Henderson teams, providing a forum for research and debate on the key areas of fixed income asset allocation and the macroeconomic outlook, including rates and currency. It is designed to bring together our best ideas globally, aiding portfolio manager decision making around both portfolio positioning and risk allocation. The ISG Insight seeks to provide a summary of recent debate within the group.