Some leading indicators for China’s growth have dropped back to levels last seen at the start of the pandemic, says Pendal's head of income strategies Amy Xie Patrick in this 9-minute fast podcast.

What does that mean for the global economy – and specifically for fixed income investing?

“If the growth situation in China gets materially worse – which isn't our base case –fixed income portfolios that look a lot like equities portfolios with a lot of credit and high yield in them will fare poorly," says Amy in the podcast.

“But if you are willing to once again dip your toe into more pure fixed income portfolios that rely much more heavily on that duration lever – those portfolios will be more reliable at delivering a defensive performance profile if the worst scenario eventuates out of China.”

Find out more about Pendal's fixed income strategies at pend.al/fixedinterest

Pendal is an independent, global asset manager. Find out more at pendalgroup.com