It is an extraordinary time to be an investment professional

Bond yields near all-time lows? Check. Credit spreads near all-time tights? Check. Equity market valuations near all-time highs? Check. Cryptoassets going to the moon? Check. Inflation at decade highs? Check. A global pandemic ongoing? Check. Sunderland AFC still stuck in League One? Unfortunately, check.

To continue reading this article...

Join Investment Week for free

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

Already an Investment Week
member?

Partner Insight: Markets hold steady amid uncertainty

Mike Riddell, portfolio manager of Fidelity Strategic Bond Fund, provides an overview of the macroeconomic environment and outlines his views across the strategy’s main alpha sources. Despite geopolitical tensions and economic concerns, market sentiment remains resilient, with short-lived volatility spikes and credit spreads rallying in recent weeks. Against this backdrop, he highlights why his highest conviction forex position is a short US dollar against a basket of emerging market currencies.

Mike Riddell, portfolio manager of Fidelity Strategic Bond Fund

22 July 2025 • 5 min read