Strategic Bond Update
WEBCAST: Strategic Bond Quarterly update
43 minute watch
Key takeaways:
- Bond yields test patience and resolve as we approach terminal rates culminating in classic false breakouts in UK & Australian 10 year yields
- The growth environment remains supportive for bonds and no impediment to yields falling
- Core inflation was the proximate cause for this bond bear and the outlook on the inflation front is improving rapidly
- The UK remains the one outlier but it is priced as such and there may be more benign explanations than a persistent inflation problem
- Generically, credit spreads look tight relative to the macro environment . Pockets of opportunity can be found in short dated investment grade yield and AAA agency mortgage securities in the US
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Past performance does not predict future returns. The value of an investment and the income from it can fall as well as rise and you may not get back the amount originally invested.
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43 minute watch
Key takeaways:
- Bond yields test patience and resolve as we approach terminal rates culminating in classic false breakouts in UK & Australian 10 year yields
- The growth environment remains supportive for bonds and no impediment to yields falling
- Core inflation was the proximate cause for this bond bear and the outlook on the inflation front is improving rapidly
- The UK remains the one outlier but it is priced as such and there may be more benign explanations than a persistent inflation problem
- Generically, credit spreads look tight relative to the macro environment . Pockets of opportunity can be found in short dated investment grade yield and AAA agency mortgage securities in the US