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Global Fixed Income Strategy Monthly Report | June 2026

11 June 2026
Invesco
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Get an analysis of important drivers of global fixed income markets, including macroeconomic trends, interest rates, currencies, and credit, in our monthly global strategy report.

In this edition:

Global Macro strategy

What does the AI supercycle mean for US growth? US growth is increasingly driven by AI and tech capex, but spending still isn’t large enough to push the US to a strong 3.5–4% growth scenario.

Global credit strategy

The pharmaceutical sector’s critical dependence on the oil and petrochemical supply chain may not be well known, meaning risks to pharma from the closure of the Strait of Hormuz may be underestimated.

Interest rate outlook

Overweight: China and Australia

Neutral: US, Europe, Japan, and UK

Currency outlook

Overweight: US dollar, Chinese renminbi, and Australian dollar
Neutral: Japanese yen
Underweight: euro and British pound

Bottom line: Customisation, tax efficiency and control — why fixed income SMAs are growing

Tim Benzel, Head of Fixed Income SMAs, and Sean Fuller, Head of Quantitative Research and Engineering, Fixed Income SMAs, share insights on what’s driving the rapid growth in fixed income SMAs.

Read previous editions

Fixed Income solutions

Discover Invesco's diverse fixed income strategies, combining global expertise and innovative solutions to meet your investment needs.

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  • Investment risks

    The value of investments and any income will fluctuate (this may partly be the result of exchange rate fluctuations) and investors may not get back the full amount invested.

    Important information

    This is marketing material and not financial advice. It is not intended as a recommendation to buy or sell any particular asset class, security or strategy. Regulatory requirements that require impartiality of investment/investment strategy recommendations are therefore not applicable nor are any prohibitions to trade before publication.

    Views and opinions are based on current market conditions and are subject to change.

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