Capital Ideas^TM

Quarterly macro and market insights from Capital Group’s fixed income team

Las manifestaciones incluidas en el presente documento representan las perspectivas de los gestores de renta fija de Capital Group, a 30 junio 2023. Las opiniones de los analistas y gestores individuales pueden diferir. © 2023 Capital Group. Todos los derechos reservados. Información a 30 junio 2023 y atribuida a Capital Group / Bloomberg Index Services Ltd, salvo indicación en contrario.

Resilient growth buoys markets, but risks elevated

• Resilience in various economic sectors and regions may be leading markets to  underappreciate the extent of downside risks to growth
• Moderating inflation should limit the extent of additional monetary tightening
• Select exposures in fixed income from duration and yield curve to securitised debt offer attractive opportunities but overall risk asset valuations are less compelling

Risk factors you should consider before investing:

• This material is not intended to provide investment advice or be considered a personal recommendation.
• The value of investments and income from them can go down as well as up and you may lose some or all of your initial investment.
• Past results are not a guide to future results.
• If the currency in which you invest strengthens against the currency in which the underlying investments of the fund are made, the value of your investment will decrease. Currency hedging seeks to limit this, but there is no guarantee that hedging will be totally successful.
• Depending on the strategy, risks may be associated with investing in fixed income, derivatives, emerging markets and/or high-yield securities; emerging markets are volatile and may suffer from liquidity problems.