Wealth Management Invest: Fixed Income Opportunities in a Higher-Rate Market with Sean Banai

Host David Bodamer speaks with Sean Banai, head of multi-sector fixed income at Voya Investment Management, about the forces shaping the fixed income market. Banai gives his view on the Federal Reserve's rate path, persistent inflation and Treasury yields, and argues investors may be able to earn attractive income without taking on excessive duration. The episode also covers AI infrastructure spending and its effect on growth, debt markets and portfolio concentration, along with consumer stress, securitized assets and CLOs, TIPS, and how public and private credit compare.

1. Banai says persistent inflation and stronger nominal growth may keep the equilibrium level of interest rates higher.
2. He argues current bond yields may allow meaningful income without extending far out on the yield curve.
3. AI infrastructure spending can support economic growth while creating new debt and concentration risks.
4. He points to security selection across securitized assets, CLOs, public and private credit as a way to seek income beyond broad credit exposure.