High-Yield

This week we present our Portfolio Allocation Summary for February 2023.

When does rising unemployment become a bigger problem than inflation? The Fed won't cut rates until that happens, probably thwarting market hopes of big cuts in 2H.

Fed Governor Lael Brainard delivered an important speech last week in which she laid out the intellectual justification for the Fed to soon pause its rate hike cycle. This week’s report reviews her arguments and explains how they inform our monetary policy and investment views.

This week we present our Portfolio Allocation Summary for January 2023.

In this <i>Strategy Outlook</i>, we present the major investment themes and views we see playing out next year and beyond.

This week we present our Portfolio Allocation Summary for December 2022.

European inflation will decline through 2023, which will greatly help households and consumption. But can European inflation remain low after that?

This week we present six key investment views for 2023.

This week we present our Portfolio Allocation Summary for November 2022.

We continue to anticipate that the Fed won’t pause its tightening cycle until Q1 or Q2 of 2023, and current labor market trends certainly give no indication that a Fed pause (or “pivot”) is imminent.