The US is ready to spend and fixed-income investors face the most challenging six to 12 months in 20 years

The US is ready to spend and fixed-income investors face the most challenging six to 12 months in 20 years. Atul Lele former equity strategist for Credit Suisse and now CIO of private bank Deltec says these are two of the major macro themes he is following. The most interesting opportunity globally right now is productivity growth in the US economy... We know that US companies have under-invested in a decade. Now is the time the capex cycle is going to pick up and all of the leading indicators suggest that. When it comes to rising interest rates in the US Lele says, what's clear is that economic growth is improving...when the Fed moves, and when the Fed doesn't move, is actually less important than what happens in the market. The bond market will react before the Fed does. Interesting article in the AFR (requires subscription): (VIEW LINK)