Active fixed income perspectives
The overall outlook for bonds in 2025 is notably positive. We anticipate an era where interest rates remain above inflation, helping investors achieve success in fixed income. Yields are attractive compared with those observed since the 2008 global financial crisis. Still, uncertainties underlie the outlook, given potential changes to U.S. immigration and trade policy. Monetary easing is expected to continue in 2025, albeit at a notably slower pace this year in the U.S.