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Investors and followers of global financial markets widely expect interest rates to rise. The Chief Investment Officers of Legg Mason’s investment affiliates agree – but they believe it will take up to two years, if not longer, to materialise.
Speaking at Legg Mason’s Investor Day, held at the Roosevelt Hotel in New York City on September 10, the affiliate CIOs discussed the near and longer-term future of worldwide markets in two panels moderated by Consuelo Mack of WealthTrack. The framing question: where to invest in a rising interest rate environment.
“The path to higher rates is going to take some time,” advised Ken Leech, CIO of Western Asset, one of the world’s leading and largest fixed income managers. That could mean more than 18 to 24 months....
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