NDR Fixed Income Allocation Strategy May 2024 Update

The NDR Fixed Income Allocation Strategy, Positioning Update

BY BRIAN SANBORN

Entering May, the fixed income allocation strategy’s sector positioning favors an inflationary environment. The model is overweight U.S. Floating Rate Notes, U.S. High Yield, and International Investment Grade. The model is underweight U.S. Mortgage-Backed Securities, U.S. Long-Term Treasurys, U.S. Investment Grade Corporate, and Emerging Market bonds.

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

Full strategy commentary: NDRFIAS202405031

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Thoughts From The Divide: Little Tweaks and Adjustments

BY JON WEBB

“I actually think we’re going to see inflation be choppy, and I expect that we’ll see employment stay robust.” As we noted back in May, “one swallow does not make spring”. But if we are to follow the advice of Keynes/Samuelson, when information changes, we should adjust our conclusions. Blast! The trick is, of course, balancing the two ideas to adjust conclusions when the evidence suggests such an adjustment is appropriate: you might call it Bayesian inference. The above quote from Bostic illustrates the problem, with the Atlanta Fed head implicitly stating that he will be ignoring any hot inflation prints. Read more →

NDR Fixed Income Allocation Strategy February 2023 Update

BY BRIAN SANBORN

The NDR Fixed Income Allocation Strategy, Positioning Update Read more →

NDR Dynamic Allocation Strategy February 2024 Update

BY BRIAN SANBORN

Dynamic Allocation Strategy, indicators, weightings update Read more →

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