ETF Fans

Acting as a brake on the BoE and BoJ through 2016, further uncertainty following the Brexit vote and weak Japanese data led to caution. However, over the last quarter some data has strengthened and has given new impetus to a period of rising global government rates. However, in the late stage of the business cycle, central banks could be behind the curve and may need to raise rates more quickly than they would like to cap rising inflation. The implications of central bank policy on the fixed income universe, and for our strategies, can be profound. Monetary policy impacts not only underlying rates for investments, but also currency strength and trading activity, and is often used as a proxy for economic potential and inflation risk.

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