Fixed Income Perspectives — February 2024
February 12, 2024 — This presentation provides an overview of our market outlook and key themes, and it illustrates how Sage is positioned in the current environment.
Key Themes
- Volatility Reversal — Expect risk assets/spread volatility to rise as sentiment is too dependent on a scenario where we achieve a soft landing with 5 to 6 rate cuts this year.
- Income-Focused Market — As the FOMC focuses on the growth side of the dual mandate, fixed income should serve as a diversification tool, and correlations will become more “normal.”
- Lean Toward Quality — Attractive yields but tight spreads suggest that it doesn’t pay to give up quality for minimal yield pickup.
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