2024-02-10 00:00:00 ET
Summary
- While fixed income investors received a nice gift from the Fed in the final quarter of 2023, we think a better way to assess total returns is looking at the cumulative impact of rate hikes.
- The great thing about fixed income investing is that returns often exhibit a center of gravity around yields.
- High yield generally outperformed on account of tightening credit spreads and a shorter duration than investment-grade benchmarks like the Agg.
By Bradley Krom
While fixed income investors received a nice gift from the Federal Reserve in the final quarter of 2023, we think a better way to assess total returns is looking at the cumulative impact of Fed Rate hikes....
Read the full article on Seeking Alpha
For further details see:
Focus On The Fed Series: Taking Stock Of Fixed Income