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In this latest survey, 68 leading bond and currency managers considered valuations, expectations and outlooks for the coming months.
In our February survey, which now seems like a lifetime ago, managers recognized some positive market developments despite the backdrop of a slowing global economy: improving Sino/U.S. trade relations, moderating Brexit uncertainties and an end to impeachment proceedings against U.S. President Trump (in his favor).
At the time, however, managers were concerned about potential geopolitical risks and whether markets perhaps relied too much on the Federal Reserve (the Fed) and its mid-cycle adjustment of last