Quarterly Outlook
Fixed Income Outlook: Bonds Hit Reset. A New Equilibrium Emerges
Althea Spinozzi
Head of Fixed Income Strategy
Chief Investment Strategist
Summary: USD extended its slide for a second consecutive week as disinflation and peak rate narratives remain front and centre. This week’s US PCE data and Eurozone CPI should further reaffirm those trends, supporting a risk-on and dollar-negative sentiment. However, China momentum will get a PMI test and any reversals could propel the dollar higher once again.