27 July 2021
Global fixed income markets in the second half of the year will be similar to Q2, according to Brandywine Global Investment Management.
In its global mid-year outlook, it said there would be a directionless trading bias, which lacked in conviction and kept most developed market bond yields range bound.
Jack McIntyre, Brandywine director of global macro research, said bond markets would continue to struggle with the idea that the economic data reflected more noise than signal.
“I do not expect the market to break out until we move past supply bottlenecks and the supply/demand relationship falls back into alignment,” McIntyre said.