Seven of Artemis’ fund managers talk about what they expect in the coming year.
James Foster – Artemis Strategic Bond Fund
Trump’s policies are likely to be reflationary, with tax cuts and higher expenditure on infrastructure. Government borrowing will increase. Faster growth combined with less immigration could see wages start to rise more quickly, increasing inflationary pressures and putting pressure on the Federal Reserve to raise interest rates. All in all, these fundamentals will be negative for US Treasuries.