FIXED INCOME HORIZONS SURVEY 2025
Diversifying for resilience in a world of uncertainty.
We sought the views of 300 senior fixed income investment professionals across Asia-Pacific, EMEA and North America between February and April 2025 to understand how asset owners are thinking about their fixed income views amid heighted uncertainty.
This covered a number of areas, including:
- Fixed income outlook: increasing uncertainty
- Credit portfolios: greater diversification across sectors and regions
- Private credit: playing an ever-greater role
- Evolution of EMD: building strategic allocations
- High conviction in an active approach: particularly in EMD and High Yield
Fixed income perspectives
Our latest bond markets insights to help shape portfolios
In our Q2 2025 update, we discuss:
- Policy changes from the Trump administration have raised the degree of uncertainty in the economic outlook and US recession risks appear to be rising.
- Potential fiscal stimulus in Europe and China could mitigate some of the negative growth effects from tariffs over time.
- Our key fixed income convictions include a preference for higher quality and diversified sources of income.
LONG-TERM THINKING
Ahead of the curve: strategic insights for bond investors
In our latest Ahead of the Curve piece, we look at what comes next for the US and Europe – and what does that mean for bonds?
AHEAD OF THE CURVE CHART
Focus on fundamentals: The power of yield
Amid all the current noise, remember that yields remain high and can absorb a significant amount of near-term volatility.
INTERVIEW
Hear portfolio manager Damir Bettini’s views on global IG credit opportunities
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High quality credit
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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.