BBBs Lagged in the Recent Risk Rally
November 9, 2023 — BBB corporate bonds make up greater than 50% of the investment grade corporate market, and they look particularly attractive here as compared to their closely followed BB high-yield counterparts. At these valuations, we make the case for owning core BBB investment grade bonds due to both their stronger credit quality and more significant adjustment to economic uncertainty heading into 2023.
A Cautionary Misalignment in High Yield
October 18, 2022 -- While low liquidity in the cash bond index has caused spreads to stay tighter than fundamentals . . .
Fixed Income Outlook: Rates, Inflation & Recession Risk
In this quarterly market review and outlook, Sage’s Michael Walton and Thomas Urano discuss inflation, the Fed’s policy response, and fixed income portfolio positioning. Michael. . . .
Fixed Income Perspectives — October 2022
October 17, 2022 -- In this presentation, Sage answers the 4 big questions (outlook for macroeconomic growth, Fed policy, valuations, and investor sentiment) and . . .