29 Jan Fixed Income Perspectives – ‘Under Pressure’
Voya Investment Management – Fixed Income Perspectives – February 2016
The new year has begun with a series of losses, and not only in the global financial markets; we also have suffered the loss of several prominent musicians, perhaps none more accomplished than preeminent style chameleon David Bowie. In terms of the markets, selloffs have been driven primarily by ongoing challenges presented by changes in China. Chinese stock exchanges have been under pressure, thanks to capital flight as well as the rapidly falling price of oil. While we believe China will be able to pull o its Bowie-esque reinvention as a more consumption-based economy, falling industrial production and commodity consumption will generate market volatility in the near term.