Thinking Globally in Bond Investing

Thinking Globally in Bond Investing

Being in the world of investments, it probably comes as no surprise that numbers are always top of mind. To some, they are just stand-alone figures. To me, they provide insight. They give direction. They tell amazing stories. Two numbers caught my eye over the past few months: survey data and economic data. Is each one interesting in itself? Somewhat. But the story is in the relationship between the two metrics.

For anyone not already familiar, survey data helps convey how people and businesses feel about where the markets are headed and directions of the economy. Economic data encompasses specific indicators to judge the overall health of the economy. Typically, there’s a correlation. As one gets higher, the other moves with it. That’s why I was surprised to see a gap between the two data points. And not just a small gap—the biggest gap on record. Basically, people feel better about the economy than the numbers warrant. So it was a really interesting quarter from that perspective.

Global Survey Composite Versus Growth

Global Survey versus Growth

Learn more about what I think is driving this, with an emphasis on the global bond market.

The opinions expressed are those of Dave MacEwen and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice.