Is a change in market dynamics afoot?
Throughout the year we ask leading bond and currency managers to consider valuations, expectations and outlooks for the coming months. Today, we ask: is the Fed providing markets with false comfort?
In 2019 there has been a clear shift in sentiment and the results from our survey suggest that our respondents have a very different outlook for the next 12 months. As we will see, the abrupt change in direction by the U.S. Federal Reserve (the Fed) in January has had an effect on many of our managers' views versus last year.
We put the spotlight on:
- Market status quo: December versus now
- The 'Fed put'
- The outlook for emerging markets
Review and outlook: What challenges did the Fund face in 2018? What are the advantages of unconstrained fixed income in 2019?
Any opinion expressed is that of Russell Investments, is not a statement of fact, is subject to change and does not constitute investment advice.