Income & Fixed Interest Newsletter – June 2017

Just as the markets had convinced themselves they were in for an uneventful carry-harvesting summer, something started to change at the end of the month, with central bank communication seemingly dominating economic data with respect to their impact on market moves. Whilst the theme of disinflation continued to play out in the economic numbers, a growing concern around new central bank hawkishness dominated the moves in global bond yields.

In this newsletter I investigate what might be behind this hawkish shift and if it is durable.

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