Taxable Fixed Income 4Q21 Market Review & Outlook
January 18, 2022 — For fixed income investors, a taper-then-hiking cycle does not create the best return environment, but we also don’t expect deeply negative returns or much higher long-end rates in Q1 given the low terminal rate of around 2%. While the year has started poorly with a continued repricing in rates that has led to negative returns, the good news is that much of the Fed’s game plan for the next year-and-a-half is now priced into rates. For the first half of 2022, we expect only modestly higher longer rates and for further curve flattening as we get close to liftoff in rate hikes. This should translate to flat returns by mid-year as yield accrual offsets some of the early year damage, and opportunities in active duration, curve shifts, and name selection add possible excess return.
2022 Fixed Income Outlook: What Follows the Great Repricing?
December 13, 2021 -- Read Sage's 2022 Fixed Income Outlook Q&A with Thomas Urano, Managing Partner, Portfolio Management.
Bad Habits Return to the High Yield Market
December 14, 2021 -- High yield investors that had hoped for management teams to maintain balance sheet discipline . . .
The Sage Sustainable 50: An Annual Ranking of the Top ESG-Rated Fixed Income Issuers
December 14, 2021 -- In a world of equity-based ESG lists, Sage Advisory presents the Sage Sustainable 50 from a fixed income perspective. We assessed the inherent ESG . . .