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Global Fixed Income Strategy Monthly Report

19 March 2026
Invesco
The landmark of Toronto CN Tower rising straight up alongside compact corporate skyscrapers in sunrise.

In our regularly updated macroeconomic analysis, we offer an outlook for interest rates and currencies and look at which fixed income assets are favoured across a range of market environments. 

In this edition:

Global macro strategy

How a weaker US dollar and improving emerging market (EM) macro fundamentals are creating a supportive backdrop for EM debt performance.

Global credit strategy

Artificial intelligence (AI) disruption fears have driven an indiscriminate selloff in software, but investment grade and high-yield software exposures are limited.

Interest rate outlook

We’re neutral on European rates as inflation remains subdued. We’re also neutral on UK rates due to emerging political risks.

Currency outlook

We’re overweight the euro based on the prospects for improved European economic performance. We’re underweight the British pound, anticipating more-than-expected policy rate cuts and political uncertainty.

Opportunities in frontier debt

Interesting opportunities in local frontier debt, following our EM strategist’s recent trip to Africa.

Read previous editions

Related insights

  • 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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