As macro concerns continue to shift, markets anticipate an easing in inflation and monetary policies in 2023. Although markets’ opposition to central bank guidance will likely lead to periods of volatility, it brings opportunities as well. The ongoing uncertainty enhances the ability to grasp elevated yields, select attractive credits amid greater dispersion, and exploit divergences across global regions.
In ““Game on” for Bonds,” Robert Tipp, CFA, Chief Investment Strategist and Head of Global Bonds, explores the conditions that should contribute to stronger fixed income returns in the quarters ahead.
As concerns about an economic recession come to the fore, Daleep Singh, Chief Global Economist and Head of Global Economic Research, looks at the characteristics of a potential downturn. “Assessing 2023’s Mixed Bag of Macro Challenges,” also provides our regional macro outlooks.
Our portfolio managers subsequently indicate how these factors—including the ESG issues affecting global supply chains—influence the opportunities within their respective sectors.