If things in the marker seem scary, maybe that's because they are scary. That's the message from one widely followed fixed income investor.
"I think there is a global growth slowdown underway," Bob Michele, global CIO and head of global fixed income at JPMorgan Asset Management, told CNBC's "Fast Money" this week. Looking at the somberly worded minutes of the most recent Federal Reserve meeting, Michele said the central bank was right to have second thoughts about hiking interest rates.
In the minutes for the Jan. 26-27 meeting, the Fed's policymakers fretted that a global slowdown — and a deep stock market sell-off — could have fallout for the U.S. economy.
"When I read the Fed minutes, I see a central bank that is out of sync with the other central banks of the world and is second-guessing itself," Michele added.