Global macro research: dawn of the fiscal era?
With monetary policy reaching its limits, we believe that expansionary fiscal policy is likely to become the focus for policymakers in a future downturn.
1Source Greenwich Associates 2019, GICF LDI-19 LDI overall and GICF FI-19 fixed income overall. LDI: results are based on interviews with 12 UK consultants evaluating LDI. The median (513) is the middle of those managers with five or more evaluators. Fixed income: results are based on interviews with 13 UK consultants evaluating fixed income managers. The median (493) is the middle ranking manager of those managers with five or more evaluators. Greenwich Quality Index scores for each evaluator range from 1,000=‘Excellent’ to 0=‘Poor’ with a population mean of 500. Greenwich Quality Index Overall is a composite of Investment and Service scores.