top of page

RELATIVE VALUE SAYS 3% WON’T HOLD



3%-Wont-Hold
.pdf
Download PDF • 231KB

A number of fund managers have indicated that a 3% yield on the ten-year yield is where they would increase treasury positions. Even if this is the case, they are highly dependent on asset flows since they are sitting on historically low levels of cash. Meanwhile, the $2 Trillion of fixed-income fund inflows is in jeopardy of reversing. After all, fund flows tend to mimic performance, and fixed-income performance over the last year has been less than robust.

Related Posts

See All

BOND MARKET HISTORYONICS

Merriam-Webster defines the word “histrionic” as overly dramatic or emotional. This is an apt description for both the Federal Reserve and the fixed income market in the first quarter of 2022, and pro

GONE FISHING

As we assess the fixed income landscape going into 2022, it looks quite different than that of the last two years. The title of this newsletter conjures up a sleepy shopkeeper sign signifying a break

When the Rate Spike is Real

TREASURIES LOG THE WORST QUARTER SINCE 1980 The first quarter was largely a continuation of the recovery from the March 2020 lows for many asset classes. The S&P 500 was up 6.17%. The Nasdaq lagged, b

Comments


bottom of page