ISG Insight: What goes up must come down
Markets have fastened on to some dramatic headlines in recent months, having to absorb both geopolitical risk from the fallout of the Russia/Ukraine conflict and policy risk as central banks contend with high inflation. It is little wonder that the first quarter of 2022 was the most difficult start for fixed income markets since the 1990s. Yet most headlines are predicated on what happened rather than what will happen. With central bankers looking at lagging indicators is there a risk of policy error and how might markets respond?
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.