Fixed Income Global Fixed Income Strategy Monthly Report | June 2026
Invesco Fixed Income
June 4, 2026
Fixed Income Global Fixed Income Strategy Monthly Report | June 2026
Get an analysis of important drivers of global fixed income markets, including macroeconomic trends, interest rates, currencies, and credit, in our monthly global strategy report.
In this edition:
Global macro strategy
What does the AI supercycle mean for US growth? US growth is increasingly driven by AI and tech capex, but spending still isn’t large enough to push the US to a strong 3.5%–4% growth scenario.
Global credit strategy
The pharmaceutical sector’s critical dependence on the oil and petrochemical supply chain may not be well known, meaning risks to pharma from the closure of the Strait of Hormuz may be underestimated.
Interest rate outlook
Overweight: China and Australia
Neutral: US, Europe, Japan, and UK
Currency outlook
Overweight: US dollar, Chinese renminbi, and Australian dollar
Neutral: Japanese yen
Underweight: euro and British pound
Bottom line: Customization, tax efficiency and control — why fixed income SMAs are growing
Tim Benzel, Head of Fixed Income SMAs, and Sean Fuller, Head of Quantitative Research and Engineering, Fixed Income SMAs, share insights on what’s driving the rapid growth in fixed income SMAs.
Related insights
Important information:
NA5551282
Investment risks:
The value of investments and any income will fluctuate (this may partly be the result of exchange rate fluctuations) and investors may not get back the full amount invested.
This is marketing material and not financial advice. It is not intended as a recommendation to buy or sell any particular asset class, security or strategy. Regulatory requirements that require impartiality of investment/investment strategy recommendations are therefore not applicable nor are any prohibitions to trade before publication.
Views and opinions are based on current market conditions and are subject to change.
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