Jupiter's Bezalel: Mind the 'Trump Gap'

Bond investors must exercise caution amid political uncertainty

Jupiter's Bezalel: Mind the 'Trump Gap'

Ariel Bezalel, head of strategy, fixed income at Jupiter, explains his caution on the Trump administration's ability to deliver fiscal reforms, and why he has increased the duration in his funds for the first time since cutting it last summer.

Following the recent positive economic data (albeit around mostly soft indicators such as consumer confidence surveys) and the continuation of the Trump reflation trade, it might seem that the US is on a path of unstoppable growth. However, my team and I believe it is important to remain conscious of too much hope being priced in to risk assets. As expected, the Federal Reserve raised the Fed funds rate by 0.25% to a range of 0.75%-1% on 15 March. But the Fed's statement struck a more dovish tone than anticipated by the markets, reducing the number of further expected rate hikes th...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now


Already an Investment Week


More on US

Without accounting for food and fuel costs, prices jumped by 5.9% through July, matching the previous reading.

US inflation cools to 8.5% in July

Slowdown due to lower fuel prices

clock 10 August 2022 • 3 min read
European-focused investment grade and high yield credit have highest inflows since April 2020.

Fixed income dominates ETF flows in July

Accounted for $32.5bn

clock 08 August 2022 • 2 min read
Fed chair Jerome Powell

Fed makes further 75 basis points hike in bid to tame inflation

Rates have reached 2.25%

clock 28 July 2022 • 2 min read