Thought leadership Global Fixed Income Strategy Monthly Report | February 2026

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 our February report:

• Global macro strategy
  We’ve revised up our US growth outlook but expect inflation to remain sticky in the first half of the year. The ECB is also forecasting better European growth momentum, but the UK may face softer conditions. 
• Rates and currency outlook
  We are overweight UK and Australian rates, neutral on European, Chinese and Japanese rates and underweight US rates. We are overweight the euro, renminbi, yen and Australian dollar and underweight the US dollar and British pound.
• Global credit strategy
  We share Invesco Fixed Income’s global credit outlook for 2026 across investment grade, high yield, emerging markets and Asian credit.