FYI: As we approach a potentially significant crossroads where the divergence in monetary policy paths between
the Federal Reserve (Fed) and other major developed market central banks—specifically the European
Central Bank (ECB) and Bank of Japan (BoJ)—looks set to increase further over the coming years, we are
revisiting the importance of macro investing as a key driver of future returns and risk management within
fixed-income portfolios.
Regards,
Ted
http://www.westernasset.com/us/en/pdfs/commentary/ImportanceOfMacroInvesting201410.pdf
