AVIG - Staying Nimble While Seeking Income
2024-04-02 14:15:00 ET
Summary
- Yields have surged across fixed income in the new regime. In Q2, we stay nimble and selective, preferring short-term sovereign bonds and high yield credit.
- The S&P 500 jumped 10% in Q1 even as bond yields rose on markets pricing out rate cuts. In Japan, the yen slid to a 34-year low against the U.S. dollar.
- We eye this week’s U.S. payrolls data to see if rising immigration will keep boosting job gains, offsetting for now an aging population and workforce.
Transcript
Central bank rate hikes have restored yield in fixed income. We see that persisting even if rate cuts are on the way. ...
Staying Nimble While Seeking Income