The fixed income allocation strategy didn’t rebalance this past month. Entering December, Emerging Market bonds, U.S. Floating Rate Notes, U.S. High Yield, and International Investment Grade are above benchmark weight. U.S. Investment Grade Corporate, U.S. Long-Term Treasurys, U.S. Mortgage-Backed Securities, and U.S. Treasury Inflation-Protected Securities are below benchmark weight.

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

Full strategy commentary: NDRFIAS202412041

Other posts

Thoughts From The Divide: Adjustments

BY JON WEBB
Last week’s excitement in bond markets came courtesy of Governor Waller offering a mechanical rationale for rate cuts. Simply, “If inflation goes down, you would lower the policy rate.” This came, of course, in the context of warnings about financial conditions and other caveats, but as is so often the case, what the markets heard was “so you’re telling me there’s a chance?”. That doesn’t mean that we disagree with the market’s read of where the Fed’s head is. Fed Governors don’t make too many boo-boos with their messaging, and when they do, it’s often an error of timing rather than content. The market has now priced cuts down to “around 4% by the end of 2024” and while that seems perhaps overdoing the enthusiasm a tad, we suspect that the market has gotten the gist about right.  Read more →

C8 Technologies Expands into the US with New Tools and Team

BY JON WEBB
C8 Technologies Expands into the US with New Tools and Team November 1, 2022… Read more →

Thoughts From The Divide: How To Know

BY JON WEBB
Ah! The start of the new year. The new calendar offers so much possibility! A moment of change that seems to come just as we have spent time following traditions and celebrating holidays that have managed to survive. It’s a comforting reminder that while “progress” is relentless, amid the seasonal ebb and flow there are still some things we can rely on. A missed Fed inflation and rates projection, a TFTD that is once again arriving after the end of the year (mea culpa encore), and… a return to the wisdom of Whitney Houston? Read more →
Back to all posts →