NDR Fixed Income Allocation Strategy June 2023 Update

The NDR Fixed Income Allocation Strategy, Positioning Update

BY BRIAN SANBORN

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

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

Full strategy commentary: NDRFIAS202306061

Other posts

Why Fed Speakers May Lean More Hawkish

BY TEMATICA

The impact of Apple sourcing changes Read more →

Nvidia Fans AI Tailwinds, ISM Data on Deck

BY TEMATICA

The FOMC roster change takes the focus off today's December Fed meeting minutes Read more →

Thoughts From the Divide: The First Cut

BY JON WEBB

In love, the first cut may be the deepest (as per Rod Stewart, Sheryl Crow, and others). But for the Fed’s Waller, the first cut is to be done “methodically and carefully”. Tacky musical references aside, the Fed Governor explained in his speech earlier this week that “the data we have received the last few months is allowing the Committee to consider cutting the policy rate in 2024”. With inflation seemingly on the right path for reaching the FOMC’s “price-stability goal”, Waller was yet another confirmation of the adjustment cut thesis, explaining in his conclusion, “The healthy state of the economy provides the flexibility to lower the (nominal) policy rate to keep the real policy rate at an appropriate level of tightness.” Read more →

Back to all posts →