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Jim Cielinski, CFA

Global Head of Fixed Income
James Cielinski, CFA | Janus Henderson Investors

Jim Cielinski is Global Head of Fixed Income at Janus Henderson Investors, a position he has held since 2017. He oversees all of the global fixed income products and teams and leads Corporate Credit as well. Previously, Jim was the global head of fixed income for Columbia Threadneedle Investments from 2010. Prior to joining Columbia Threadneedle, he spent 12 years at Goldman Sachs Asset Management as managing director and head of credit. Before that, he was head of fixed income for Utah Retirement Systems, assistant manager of taxable fixed income for Brown Brothers Harriman & Co., and an equity portfolio manager for First Security Investment Management.

Jim received bachelor of science degrees in management and finance from the University of Utah and an MBA with a concentration in finance from New York University, Stern School of Business. He holds the Chartered Financial Analyst designation and has 39 years of financial industry experience.

Articles Written

Midterms matter – just less so at 8% inflation
Timely & Topical

Midterms matter – just less so at 8% inflation

Inflation may cause markets to buck the trend of positive returns after the U.S. midterm elections.

Front-end rates indicate riskier assets need a reality check
Timely & Topical

Front-end rates indicate riskier assets need a reality check

This year’s bond market stress is a warning sign to other asset classes and the real economy.

ISG Insight: beyond an inflation peak
Features & Outlooks

ISG Insight: beyond an inflation peak

What happens beyond peak inflation and can central banks navigate a soft landing with their inflation ‘blinkers’ on?

ISG Insight: What goes up must come down
Features & Outlooks

ISG Insight: What goes up must come down

Markets have fastened on to some dramatic inflation headlines in recent months but as economic growth comes under pressure is there a risk of policy error?

Opposing Forces
Features & Outlooks

Opposing Forces

A look at potential economic outcomes as central banks seek to maintain growth while stamping on inflation.

Inflation dilemma: where now for central banks and fixed income?

Inflation dilemma: where now for central banks and fixed income?

Jim Cielinski considers the dilemma for central banks as they are caught between decades-high inflation and an increasingly uncertain growth outlook.

Fixed Income: The last hurrah
Features & Outlooks

Fixed Income: The last hurrah

The lagged impact of policy largesse should initially drive earnings and inflation, but as 2022 progresses, a more familiar picture will likely emerge.

ISG Insight: Markets versus policymakers – who’s in charge?
Features & Outlooks

ISG Insight: Markets versus policymakers – who’s in charge?

Markets have brought forward tightening expectations, but central banks are sticking to the ‘transitory inflation’ line – for now. Our latest ISG Insight considers who has the better handle on the economic outlook?

ISG Insight: Thriving in the bond market
Features & Outlooks

ISG Insight: Thriving in the bond market

Recent months have seen macro and microeconomic fundamentals broadly improve and corporate bond markets are priced for this to continue. We dedicated an ISG meeting to consider what could go wrong and how fixed income markets might respond.

ISG Insight – Bond market riot: Rates are rising but is it sustainable?

ISG Insight – Bond market riot: Rates are rising but is it sustainable?

What began as a gradual climb in nominal yields from the summer accelerated in February. Moves of this speed are rare, so we dedicated an ISG meeting to ask why global yield curves have steepened so quickly and what the implications are for fixed income asset allocation.

A blue wave or a blue swell?

A blue wave or a blue swell?

With a Senate majority, Democrats will have an easier time of achieving their agenda. But it won’t occur without compromise, creating optimism in markets.

ISG Insight: a mostly benign outlook for US inflation

ISG Insight: a mostly benign outlook for US inflation

The stabilisation of US economic growth amid unprecedented fiscal and monetary stimulus has raised questions about the likelihood of inflation returning. Jim Cielinski, Global Head of Fixed Income, and Andrew Mulliner, Head of Global Aggregate Strategies, both members of the Fixed Income Investment Strategy Group (ISG)*, explain why they do not see significant risks of sustained higher inflation materialising in the next few years, though caution that short-term spikes are possible and investors should evaluate the diversity that their fixed income portfolios provide.