DTYS - 2019 Fixed Income Survey: 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?
Over 2018, it was clear that our fixed income manager survey respondents were anticipating ongoing market volatility. During that period, we continued to highlight the incongruous views of bearish interest rate managers versus credit managers, who have been more bullish. We also saw broad optimism for emerging markets foreign currencies overall, with particular favour for the Mexican peso.
In 2019 however, there has been