BKN - Q1 2018 Fixed Income Survey: Expectations For Rising Rates Volatility And Emerging Markets
The dichotomy between views from interest rate managers and credit managers continues. In our latest fixed income survey1, rates managers have blinked first.
This quarter's survey closed right before the February market sell-off, thus managers did not have the benefit of hindsight with regards to market repricing. Nonetheless, the results continue to provide valuable insight.
Previously, we have highlighted the dichotomy between views from interest rate managers and credit managers, with rates managers implying low growth and low inflation while credit managers expected improving corporate fundamentals. This was contradictory over the long run