Bond manager: 1-in-4 chance Trump plans won't materialise
But JP Morgan AM's Iain Stealey is expecting higher than average economic growth
Singapore
BOND fund manager Iain Stealey is positioned for higher economic growth in the US. But he acknowledges there is a one-in-four chance that the new administration of US President-elect Donald Trump will fail to execute its plans.
If that happens, the world will get a "muddle through" scenario. The US will not enjoy the big tax cuts, big fiscal spending and deregulation that markets are expecting, he said.
Then there will be "more of the same, which is low growth, low inflation, and government bond yields will come down", said Mr Stealey, 37, who co-manages JP Morgan Asset Management's US$2.4 billion Global Bond Opportunities Fund. He is the firm's head of gl…
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