Entering August, the fixed income allocation strategy’s positioning stayed the same. U.S. High Yield, U.S. Investment Grade Corporate, U.S. Mortgage-Backed Securities, and U.S. Treasury Inflation-Protected Securities are above benchmark weight. Emerging Market bonds, International Investment Grade, and U.S. Floating Rate Notes are below benchmark weight.

Click the link below to read more about the strategy’s positioning.

Full strategy commentary: NDRFIAS202408051

Other posts

Thoughts From The Divide: Lack of Action

BY JON WEBB
It’s another week of heavy-hitting inflation data, with PPI coming in hotter than expected, CPI was in line with expectations on a year-on-year basis, and import prices “rose by the most in two years in April amid rising costs for energy products and other goods”. Under the hood, both CPI and import prices showed additional signs of running hot, with the latter featuring an upwardly revised 0.6% month-on-month change in March, and the CPI data, including hot readings in some of the niches and metrics followed by Powell et al., such as the  4.0% annualized reading in six-month Core CPI and a sobering 6.0% annualized reading in six-month Core Services. Read more →

Trump’s Bill Moves to the Senate, Flash May PMI Data on Deck

BY TEMATICA
Seeing an upswing in investment banking activity Read more →

MI2 Partners Thoughts From The Divide: “Powell’s Last Stand?”

BY JON WEBB
At the risk of contradicting Mr. Authers, the mortgage fraud allegations against Cook are a new tactic on an old front. Potato-potahto. Either way, while Mr. Authers used “startling”, we would describe ourselves as unsurprised: politics ain’t beanbag and the Administration was known to have sharp elbows. One might argue that it’s a symmetric response to Trump’s adversaries’ regular use of lawfare against him, but who can say? Perhaps the WH would have used this tactic regardless. Read more →
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