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The Most Important Thing Today (9/19/23)
Let's talk about inflation! Fed May Hike Again This Year After ‘Disappointing’ Inflation Report
1 min read
- Capping off a difficult year for bonds, November emerged as a historic month, marking the best performance for U.S. bonds since 1985.
- U.S. junk bonds had their most substantial rally since July 2022, increasing by over 4%, underscored by a record inflow of $11.9B into exchange-traded funds (ETFs) tracking this asset class.
- November was a standout month for debt markets globally, with a Bloomberg index of sovereign and corporate debt delivering its highest return since 2008, over 5%.
- This sparked an unprecedented rally across diverse markets, from stocks and credit to emerging markets.
- Last month's yields exceeding 5% prompted active bond managers to increase their holdings in longer-term debt.
- Echoing this trend, a recent client survey by JPMorgan Chase & Co. indicated a continued rise in these investments, with a record 78% of surveyed active investors expanding their net long positions.
- Source: Helios Quantitative Research, Bloomberg, JPMorgan Chase & Co.
1 min read
The Most Important Thing Today (11/22/23)
Let's talk about inflation! Annual Inflation Hits Fed Target in New England, Still Above 4% in the South Inflation...
The Most Important Thing Today (10/3/23)
Let's talk about bonds! Market Jitters Persist as Long-Term Treasury Yields Approach 5%