NDR Fixed Income Allocation Strategy January 2023 Update

The NDR Fixed Income Allocation Strategy, Positioning Update

BY BRIAN SANBORN

Entering January, the fixed income allocation strategy is overweight U.S. Long-Term Treasurys, U.S. High Yield, Mortgage-Backed Securities, and Emerging Market Bonds, while being underweight Floating Rate Notes, U.S. Investment Grade Corporate, Treasury Inflation-Protected Securities, and International Investment Grade bonds.

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

Full strategy commentary: NDRFIAS202301051

Other posts

Tariff Turmoil, OPEC+ Output Hike & Fed Meeting Ahead

BY TEMATICA

The market expects no move from the Fed but what about the White House? Read more →

NDR Dynamic Allocation Strategy July 2024 Update

BY BRIAN SANBORN

Dynamic Allocation Strategy, indicators, weightings update Read more →

Thoughts From the Divide: Subjest to Change

BY JON WEBB

As the saying goes, “needs must when the devil drives”. We have no problem understanding the Fed’s decision to announce (at 7pm last night) that the details of the BTFP program needed to be altered. The problem was the overly juicy arbitrage, whereby banks could use the BTFP window to flip cash from the Fed into the RRP and pocket the not-insubstantial difference. We were impressed by the chutzpah involved in arbitraging two Fed facilities! Read more →

Back to all posts →