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:
The year-end Invesco Fixed Income Global Investor’s Summit included discussions around global macro trends and implications for markets. We share our key conclusions here.
Many Summit discussions centered on AI - and the role of private credit financing. We speak with Invesco Fixed Income portfolio managers about the rise of private credit in the investment grade space.
We are neutral on European rates. Markets have priced in hikes for next year, but we believe expectations are premature given lower-than-expected inflation and growth risks. We are overweight UK rates. Although the December rate cut decision was close, the Monetary Policy Committee consensus was toward further easing.
We are overweight the euro based on further expected US dollar weakness, a supportive eurozone fiscal environment and potential flows away from US dollar assets. We are underweight the British pound. The UK’s negative fiscal impulse should weigh on growth and interest rates, leading to a weaker pound.
Discover Invesco's diverse fixed income strategies, combining global expertise and innovative solutions to meet your investment needs.
The Additional Tier 1 (AT1) CoCo bond market has grown significantly in the past decade. Discover new opportunities in this maturing market that could be worth considering particularly for investors in Europe.
Experts from equities, fixed income, real estate, alternatives, and more discuss where they see opportunities and risks in 2026.
As economies show resilience, selectivity and care remain critical for bond investors figuring out where to take duration risk and how to think about returns.
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