2024-08-06 12:15:00 ET
Summary
- Getting the pace of easing right will likely be more determinative for total return outcomes than even a few months ago.
- With the bond rally over the past week, things have changed.
- We believe the current pricing of the “end point” for a Fed easing cycle is appropriate.
- As yields have moved lower, the negative carry in duration longs has increased, with significant implications for investors.
By Ashok Bhatia, CFA
Getting the pace of easing right will likely be more determinative for total return outcomes than even a few months ago. ...
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Now It's Time To Focus On The Path