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Steve Ellis

Steve Ellis - Global CIO, Fixed Income

Article 3 min read

Suisse roll-up

An historic last-minute takeover of Credit Suisse by UBS offers an imperfect solution as regulators seek to contain broader systemic risk.

Steve Ellis + 2 others | 21 March 2023

Podcast 36 min listen

Rich Pickings podcast: Looking for cracks in the system after SVB

After the collapse of Silicon Valley Bank, Richard Edgar is joined by some of Fidelity's experts to discuss the fallout.

Gita Bal + 5 others | 15 March 2023

Article 2 min read

The Fed can’t paint over the cracks for long

Fidelity International's Chief Investment Officer for fixed income on what the SVB collapse means for the Fed and monetary policy.

Steve Ellis + 1 other | 15 March 2023

Podcast 34 min listen

Rich Pickings podcast: Outlook 2023 - navigating the polycrisis

Richard Edgar is joined by Fidelity's cross-asset investment team to discuss the 2023 Outlook.

Richard Edgar + 6 others | 16 December 2022

Article 3 min read

Fixed income 2023: A new era for interest rates

Bond yields are finally starting to look attractive again but are they priced for the scale of the downturn ahead?

Steve Ellis | 11 November 2022

Article 3 min read

Bonds are back in town

For over a decade, one of the main cards in investors’ pack - solid and steadily yielding government bonds - has been off the table. That era has ended.

Steve Ellis | 7 November 2022

Article 2 min read

The Fed’s dilemma in three charts

The risk that the Fed will go too far in trying to bring inflation under control is becoming more acute.

Steve Ellis + 1 other | 30 September 2022

Podcast 16 min listen

Fed hike: What you're missing from the inflation narrative

Fidelity's Chief Investment Officer for Fixed Income Steve Ellis shares his views on the unexpected consequences of the Federal Reserve's rate hike cycle.

Steve Ellis + 3 others | 23 September 2022

Article 3 min read

Watch where you step as defaults set to rise

Fidelity’s projected credit spread premium model suggests high yield investors may be taking on more risk than they are being paid for.

Steve Ellis + 2 others | 20 September 2022

Article 3 min read

Searching for safe havens amid a stagflation shock

High inflation and damaged growth will define the macro outlook for several quarters

Andrew McCaffery + 3 others | 8 March 2022

Article 3 min read

Russian and Ukrainian debt comes under pressure

Our base case from a fixed income perspective is now for a more severe and protracted conflict.

Steve Ellis | 24 February 2022

Podcast 55 min listen

Rich Pickings podcast: Catch 2022 - what's in store for the year ahead

"I don't think central banks are going to have the capacity to raise interest rates to the extent that's [being] priced in," says Fixed Income CIO Steve Ellis.

Richard Edgar + 5 others | 19 November 2021

Article 4 min read

Don’t get bearish on duration yet

Record debt levels mean central banks cannot normalise aggressively.

Steve Ellis | 19 November 2021

Article 4 min read

Don’t get bearish on duration yet

Record debt levels mean central banks cannot normalise aggressively.

Steve Ellis | 18 November 2021

Podcast 48 min listen

June's Rich Pickings podcast: Where next for inflation

"The market will wonder: is The Fed talking more aggressively but actually still way behind the curve?" says CIO Andrew McCaffery in June's Rich Pickings.

Richard Edgar + 6 others | 25 June 2021

Blog 2 min read

Chart Room: A liquidity tide for the record books

2020 brought us new high-water marks in the US for both money supply growth and the personal savings rate.

Steve Ellis | 13 January 2021

Video 60 min watch

Fidelity Live: CIO Outlook 2021 - replay

Our CIOs share their outlook for the year ahead.

Andrew McCaffery + 3 others | 11 December 2020

Podcast 51 min listen

November's Rich Pickings: Outlook 2021

Fidelity's chief investment officers discuss the paths they're taking in the year ahead.

Richard Edgar + 5 others | 27 November 2020

Article 4 min read

Fixed income in 2021: Monetary policy to the rescue, but duration tantrums are possible

Central banks will want to keep financing costs low given high debt levels, but may not act before a duration tantrum.

Steve Ellis | 27 November 2020

Video 45 min watch

Fidelity live: CIOs October webcast (replay)

Our CIOs take stock of Q3, discuss the macro outlook for the next quarter, and give an update on trading.

Andrew McCaffery + 3 others | 22 October 2020

Podcast 43 min listen

September's Rich Pickings podcast: Allocating for recovery

"The market is underestimating inflation. Reduce duration and look for income," says Chief Investment Officer Steve Ellis, in this month's Rich Pickings.

Richard Edgar + 4 others | 2 October 2020

Video 30 min watch

Fidelity live: CIOs webcast replay

As the world emerges from lockdown, hear our CIOs discuss their outlook for the next quarter and beyond.

Andrew McCaffery + 3 others | 27 July 2020

Article 12 min read

Fidelity CIO Outlook Q3: Nearing the limit

Markets will struggle to surpass second quarter rebound.

Andrew McCaffery + 4 others | 27 July 2020

Blog 5 min read

Defying gravity: How long can monetary-driven markets ignore economic reality?

How long can central bank stimulus enable markets to defy gravity from Covid-19 reality?

Steve Ellis + 1 other | 21 May 2020

Blog 4 min read

Fidelity CIOs: Effects of monetary explosion

The sheer scale of central bank action could store up problems for the future.

Andrew McCaffery + 1 other | 20 May 2020

Blog 4 min read

Fidelity CIOs: Dispersion increases as demand effects filter through

Investors become more selective as demand shock hits oil price and other sectors.

Andrew McCaffery + 1 other | 22 April 2020

Blog 4 min read

Fidelity CIOs: Dollar devaluation could be the end game from Fed actions

Fiscal and monetary stimulus could weaken the dollar and be inflationary.

Steve Ellis + 1 other | 25 March 2020

Blog 4 min read

Andrew McCaffery + 2 others | 20 March 2020

Article 4 min read

Fidelity CIOs on the response needed to stabilise the markets

Fidelity CIOs on the response needed to stabilise the markets following coronavirus and oil shocks

Romain Boscher + 2 others | 11 March 2020

Video 9 min watch

Andrew McCaffery + 2 others | 10 March 2020

Blog 4 min read

Coronavirus: the impact on our global economic outlook

Global growth shock in a world of limited policy tools.

Romain Boscher + 3 others | 10 February 2020

Video 4 min watch

CIO Outlook video: Steve Ellis on Fixed Income

With core bond yields likely to remain low, we expect further inflows into areas of fixed income with more attractive yields such as emerging markets debt.

Steve Ellis | 19 December 2019

Article 8 min read

CIO views: The correction that averted a capitulation

Recent market volatility shook investors' confidence, with many questioning if the end of cycle was near. Our CIOs give their views.

Romain Boscher + 2 others | 19 November 2018

Podcast 40 min listen

Podcast: New markets, old rules - time to rethink

As the end of the cycle approaches what can stop investors running for the hills? Fidelity experts consider the wisest ways to position for a market shift.

James Bateman + 3 others | 25 September 2018

Video 3 min watch

What I've learned: Steve Ellis on the value of money, risk-taking and a Liverpool builders’ merchant

Steve Ellis, emerging market credit, remembers how his father taught him the value of money - the hard way.

Steve Ellis + 1 other | 8 March 2018

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