“With summer holidays in full swing and key decision makers away from their desks, clearer direction should become apparent once we hit September.” — Alexandre Morin
Key takeaways from his comment:
- Investors seem to think that inflation has peaked and that slowing economic conditions will prompt the Fed to pivot towards easing sooner than expected.
- U.S. high yield spreads plummeted almost a full percentage point.
- We remained nimble in terms of duration to benefit from both rallies and selloffs, as yields are fairly range bound.
Alexandre Morin, CFA
Senior Director, Portfolio Manager, Fixed Income, iAIM
