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Readying bond portfolios for reflation

Elena Elisseeva / Shutterstock
Elena Elisseeva / Shutterstock

We believe now is a good time to ready bond portfolios for reflation: improving growth, wage gains and higher inflation. We see global reflation running further in 2017 and spurring a modest rise in global bond yields.

Consumers and businesses around the world are gaining confidence, as this week's chart shows, possibly awakening animal spirits. It is not just a U.S. phenomenon; the synchronized nature of this cyclical upswing makes it different from previous false dawns, as detailed in our January Global Macro Outlook . The key to our outlook: Stronger confidence needs to start translating into higher consumption and investment.

Our fixed income base case

TIPS Weekly Commentary Richard Turnill is BlackRock's global chief investment strategist. He is a regular contributor to The Blog .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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