President Trump’s tax looks set to give economic growth a small boost, but will primarily result in deteriorating public finances and growing inequality over time. We do expect core inflation to rear its head again as the labour market is nearing full employment. Therefore, more tightening of monetary policy is in the cards
Nick Watson, portfolio manager with Janus Henderson’s UK-based Multi-Asset Team, discusses why alpha-generating managers are likely to be in ever greater demand, and focuses on dynamics within fixed income. As an allocator to both active funds and passive instruments, he argues it is crucial to consider questions of ‘where’ and ‘when’ when making decisions.