Navigating Investing in Today’s Markets with Janet Rilling
Janet Rilling, head of Allspring’s Plus Fixed Income team, discusses key global fixed income themes, including fiscal stimulus, central bank policy divergence, and inflation risks.
Transcript
Cameron Pickoski: We're here in Fort Lauderdale this week at our National Sales Summit, where the theme is “Charting the Course.” So, we wanted to talk to you, Janet, about how you're navigating investing in today's markets and, specifically, because you head up a large global team, what key themes are you watching in global fixed income markets right now?
Janet Rilling: So, one key theme that we're monitoring is fiscal stimulus. We're seeing that here in the U.S. but also globally. We think that will be a strong support to global growth. Another theme we're monitoring is central bank policy. We're seeing more divergence globally. But, again, particularly in the U.S., we're expecting a new Fed (Federal Reserve) chair, which will shift some of the focus from just the front end of the curve to the longer end, given some balance sheet reduction. And then lastly, we'll continue to monitor inflation. It does seem to be pretty much contained globally, but there is still risk for inflation to reaccelerate.
Key takeaways
- Fiscal Stimulus: Fiscal stimulus in the U.S. and globally could provide meaningful support for economic growth.
- Central Bank Policy Divergence: Diverging central bank policies, including potential changes under a new U.S. Fed chair, could influence yield curve dynamics, particularly at the longer end.
- Inflation Risks: While inflation appears relatively contained, there is still a possibility of reacceleration that warrants careful observation.
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