Fixed income outlook: Get used to it

Disclaimer Robeco Switzerland Ltd.

The information contained on these pages is solely for marketing purposes.

Access to the funds is restricted to (i) Qualified Investors within the meaning of art. 10 para. 3 et sequ. of the Swiss Federal Act on Collective Investment Schemes (“CISA”), (ii) Institutional Investors within the meaning of art. 4 para. 3 and 4 of the Financial Services Act (“FinSA”) domiciled Switzerland and (iii) Professional Clients in accordance with Annex II of the Markets in Financial Instruments Directive II (“MiFID II”) domiciled in the European Union und European Economic Area with a license to distribute / promote financial instruments in such capacity or herewith requesting respective information on products and services in their capacity as Professional Clients.

The Funds are domiciled in Luxembourg and The Netherlands. ACOLIN Fund Services AG, postal address: Leutschenbachstrasse 50, CH-8050 Zürich, acts as the Swiss representative of the Fund(s). UBS Switzerland AG, Bahnhofstrasse 45, 8001 Zurich, postal address: Europastrasse 2, P.O. Box, CH-8152 Opfikon, acts as the Swiss paying agent.

The prospectus, the Key Investor Information Documents (KIIDs), the articles of association, the annual and semi-annual reports of the Fund(s) may be obtained, on simple request and free of charge, at the office of the Swiss representative ACOLIN Fund Services AG. The prospectuses are also available via the website https://www.robeco.com/ch.

Some funds about which information is shown on these pages may fall outside the scope of CISA and therefore do not (need to) have a license from or registration with the Swiss Financial Market Supervisory Authority (FINMA).

Some funds about which information is shown on this website may not be available in your domicile country. Please check the registration status in your respective domicile country. To view the Robeco Switzerland Ltd. products that are registered/available in your country, please go to the respective Fund Selector, which can be found on this website and select your country of domicile.

Neither information nor any opinion expressed on this website constitutes a solicitation, an offer or a recommendation to buy, sell or dispose of any investment, to engage in any other transaction or to provide any investment advice or service. An investment in a Robeco Switzerland Ltd. product should only be made after reading the related legal documents such as prospectuses, annual and semi-annual reports.

By clicking “I agree” you confirm that you/the company you represent falls under one of the above-mentioned categories of addressees and that you have read, understood and accept the terms of use for this website.

Fixed income outlook: Get used to it

‘Liberation Day’ on April 2 marked a turning point in economic narratives, intensifying policy uncertainty around global tariffs. With the 90-day suspension of country-specific tariffs set to expire on July 9, markets are again dealing with policy unpredictability.

Explore the full report here

The geopolitical backdrop remains tense with the impact of Israel’s strike on Iran still unfolding. Yet despite these developments, markets have continued to perform steadily, suggesting a growing resilience to recurring macro and geopolitical noise.

In our Q2 outlook (Defend and Spend, published before April 2), we argued that geopolitical uncertainty would adversely impact global growth. This scenario is now materializing - especially in the US, where consumers and businesses have become more gloomy. Our leading indicator hints at downside risks to the 1% consensus forecast for US growth in H2 2025.

Remarkably, risk assets seem convinced that the most intense phase of trade uncertainty has passed. Credit market valuations have completed a full round trip. After the April spike, spreads recovered sharply and valuations have returned to pre-April levels. ‘Risk’ appears to be getting used to policy uncertainty.

Explore the full report here