To US Financial Professionals servicing non-US persons

John Pattullo

Co-Head of Global Bonds | Portfolio Manager

John Pattullo is Co-Head of Global Bonds at Janus Henderson Investors. He manages and co-manages a range of global bond strategies and funds meeting different client needs globally. John joined Henderson in 1997 as a trainee manager in corporate bonds and was head of the Strategic Fixed Income Team from 2009 until 2015 when he became Co-Head with Jenna Barnard. Prior to Henderson, he spent four years as a chartered accountant at PricewaterhouseCoopers.

John has an MA (Hons) in economics from the University of St Andrews. He is a member of the Institute of Chartered Accountants of Scotland (CA) and an associate member of the Society of Investment Professionals (ASIP). He has 30 years of financial industry experience.

Articles Written

Global Perspectives: It is all falling into place for bonds in 2023
Features & Outlooks

Global Perspectives: It is all falling into place for bonds in 2023

Evidence of a collapse in inflation and impending economic downturn have potentially built conditions for strong returns from bonds in 2023.

High quality bonds are primed to bloom in 2023
Timely & Topical

High quality bonds are primed to bloom in 2023

The titan arum only flowers occasionally, but when it does, the results are impressive; high quality bonds could be set for a similar display in 2023.

Strategic Fixed Income: unfortunately, a recession is baked in the cake
Features & Outlooks

Strategic Fixed Income: unfortunately, a recession is baked in the cake

All the hallmarks for a recession are baked in the cake but have not washed through the economy yet. (Recorded 25 August 2022)

Boom-bust economics is back! Be warned…

Boom-bust economics is back! Be warned…

John Pattullo explains why he believes a recession seems unavoidable and that we are back to the boom-bust economics of the ‘80s.

Five questions fixed income investors are asking in 2022
Features & Outlooks

Five questions fixed income investors are asking in 2022

Our fixed income teams consider monetary policy-related conundrums and where, outside of policy, they see opportunities and risks for investors.

Reflation train — arriving on time
Analysis & Studies

Reflation train — arriving on time

Jenna Barnard and John Pattullo, co-heads of Strategic Fixed Income, dissect the reflation narrative, sharing interesting views that go somewhat against consensus.

Inflation: is this the real thing? Is this just fantasy?…

Inflation: is this the real thing? Is this just fantasy?…

John Pattullo, Co-Head of Strategic Fixed Income, explains why an expected and predictable cyclical reflation should not be confused with a longer-term structural breakout of inflation.

Credit light cuts through the income darkness
Features & Outlooks

Credit light cuts through the income darkness

Jenna Barnard and John Pattullo explain how credit markets navigated COVID with relative ease and why corporate bonds remain in the sweet spot for 2021.

Strategic Fixed Income: Japanification — Europe first and now the US

Strategic Fixed Income: Japanification — Europe first and now the US

John Pattullo, Co-Head of Strategic Fixed Income, explains how the suppression of volatility by the US Federal Reserve during the Covid crisis has led to the Japanification of the US corporate bond market.

So… what about inflation?
Analysis & Studies

So… what about inflation?

John Pattullo, Co-Head of Strategic Fixed Income, shares his views on the most frequently asked question by clients these days: “what about inflation?”

Credit spreads — from reassuringly expensive to scary cheap, and now: just cheap?

Credit spreads — from reassuringly expensive to scary cheap, and now: just cheap?

John Pattullo, Co-Head of Strategic Fixed Income, believes that over the last month corporate bond spreads have gone from scary cheap to just ‘kind of cheap’ now. As the dust settles in the markets, he remains optimistic that there are opportunities to be had going forwards.

Disruption simply exaggerating existing structural trends – Strategic Fixed Income view
Analysis & Studies

Disruption simply exaggerating existing structural trends – Strategic Fixed Income view

John Pattullo, Co-Head of Strategic Fixed Income, provides a brief update on the team’s current thoughts on the markets and the opportunities they see going forward, while explaining the reasons for their optimism.