Across most developed markets, conditions keep pointing to one outcome: a “Muddle Through” scenario characterized by low to moderate growth with mildly-sticky inflation. Generous yields across public and private credit continue to drive the yield-is-destiny theme, which may gain a tailwind from downward rate pressure on certain monetary policy regimes. Explore our public and private fixed income outlook to learn more. Also included is an assessment of the macroeconomic backdrop and our sector views for the fourth quarter and beyond.