Fixed Income Perspectives — August 2025
August 7, 2025 — This presentation provides an overview of our market outlook and key themes, and it illustrates how Sage is positioned in the current environment.
Key Takeaways
- Substantial downward revisions to job growth figures raise concerns about the true strength and resilience of the labor market.
- The Fed is expected to cut rates 2-3 times through 2025, with up to 5 cuts total to a terminal rate of 2% if the expansion persists before pausing.
- Credit spreads remain near historical lows, offering limited margin for rising macro risks.
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