​Co-Heads of Strategic Fixed Income, Jenna Barnard and John Pattullo, share their views on the current markets, outlining the reasons why they see the global economy as definitively ‘late-cycle’ and explain why investors should be aware of narrative fallacies in the markets.

Key points:

  • Numerous factors point to a definitively late-cycle stage in the global economy
  • The ‘rising rate environment’ is the biggest narrative fallacy currently in the media and the markets
  • The disruption in previously defensive industry sectors, such as tobacco and mobile phones in parts of Europe, is making the search for sensible income more complex