Global fixed income looks good but we're not out of the woods

This Manulife income fund manager is optimistic, but increasingly tactical in a market with shorter trends and new challenges

Michael Ryval 28 March, 2019 | 2:00PM

The global fixed income environment, which proved challenging in 2018, has taken on a more positive tone, but key risks remain. U.S. fiscal policy and trade with China, as well as Brexit still weigh heavy on the market.

“As the [economic] numbers change, and they get positive, the Fed could be a question mark, as we go forward. That’s number one,” says Dan Janis III, head of global multi-sector fixed income, and senior managing director at Boston-based Manulife Asset Management.

“Number two is the trade-with-China deal. That has created a massive source of volatility through global markets. We do believe there will be some sort of watered-down agreement, not a full-blown solution, especially regarding technology. But there will be an agreement that will lessen the ability of the U.S. to put more tariffs on. That is a slightly positive factor.”

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Michael Ryval

Michael Ryval