Western Asset Management's CIO on why bond indexes give active managers an edge, "stubbornly" low inflation and his counterintuitive jump into emerging markets at the dawn of the Trump presidency.
Investors also continued to favor global funds in the week ending July 19.
Asia ex-Japan, Latin America and global emerging markets funds continued their recent strong performance.
Lower than expected inflation rates helped continue the best run since the first quarter of 2017.
Investors favored financials amid the second quarter earning season; consumer goods funds take in $124 million.
Postelection zeal is flagging.
Investors should beware a rise in bond yields, a downturn in economic data or a policy misstep in a large emerging market.
Investors should guard against complacency.
