So far this year, investors have had to contend with the implications of a regional banking crisis, a still-hawkish Federal Reserve, and rising expectations for a near-term recession. With economic risks elevated, the challenge for debt investors is to strike the right balance between risk and return in portfolios, while maintaining a focus on credit quality. These two risks-interest rate risk and credit risk-can have important implications for bond performance in an environment where the Fed may soon pivot to rate cuts, but likely in response to a U.S. recession. In this episode, Dr. David Kelly is joined by Andrew Norelli, Portfolio Manager for several multi-sector fixed income strategies at J.P. Morgan Asset Management, in a dive into the outlook for the economy and interest rates, and what this all means for striking the right balance between credit and duration in fixed income portfolios.
2 авг 2023
