Fixed Income Perspectives — September 2025
September 5, 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
- Labor market weakens: Downward revisions to job growth and rising “Jobs Hard to Get” sentiment suggest pressure on unemployment despite a still-low 4.2% rate.
- Fed easing expected: Nearly six rate cuts are priced in, with room for deeper cuts if growth slows into recession.
- Yields biased lower: Tight credit spreads and declining rate volatility support MBS and fixed income performance, though selectivity remains key amid limited cushion for surprises.
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