A New ‘Warsh’ Cycle
Rate expectations sit underneath much of the fixed income and duration work advisors do for clients, and this episode offers a framework for thinking about a higher-for-longer path and more volatile bond markets. It is a short listen for anyone framing rate assumptions in client portfolios.
Summary
By the markets & outlook deskIn this episode of the Basis Points podcast, Kevin Flanagan is joined by Maggie Lucier, a senior associate in investment strategy, to discuss the idea that the Fed may be entering a new era and that Kevin Warsh's policy approach could mean higher-for-longer rates. They also cover what that could mean for bond market volatility and for how fixed income portfolios are run. The description frames investors expecting easy rate cuts as potentially in for a surprise.
- The hosts discuss the prospect of the Fed entering a new era and what Kevin Warsh's policy approach could mean.
- They suggest investors expecting easy rate cuts could be in for a surprise, with higher-for-longer rates a possible outcome.
- Greater bond market volatility is raised as part of that scenario.
- The episode points to a fresh playbook for fixed income investing.
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