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August 15, 2025 36 mins

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◆ Exclusive interview with Amundi portfolio manager, Jonathan Manning 

◆ Navigating fixed income amid tariff disruption 

◆ Investing at tight spreads

Yields are high and defying predictions that they will fall. Meanwhile, spreads are tight across credit markets with recent new issues pricing at or through fair value.

Then consider erratic US trade policy, the early signs of international investors abandoning dollar assets and the rise of private credit into investment grade credit, and you have an awful lot to think about as a fixed income portfolio manager. 

All of which was why we were delighted to speak this week with Jonathan Manning, senior global credit portfolio manager at Amundi, Europe's largest asset manager, who talked to us about all of that and much more besides.

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