UBS On-Air: Market Moves
Fixed Income Roundtable with the UBS Chief Investment Office
Sep 19, 2023
UBS On-Air presents a fixed income roundtable featuring Leslie Falconio, Barry McAlinden, Frank Sileo, Alina Golant, and Kathleen McNamara. The podcast covers topics such as the outlook for the fourth quarter, investment grade corporates, the preferred sector, high yield sector analysis, and risks in fixed income.
24:15
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Quick takeaways
- Investment-grade corporates in the financial sector offer solid fundamentals and attractive valuations.
- A barbell strategy, combining short-term liquidity bonds and longer-dated municipals, is recommended for the municipal market.
Deep dives
Outlook for the Fourth Quarter
The podcast discusses the outlook for the fourth quarter, particularly focusing on the interest rate market. While the forecast suggests that yields will trend lower by year-end, there may be increased volatility due to the upcoming Fed meeting and fading fiscal stimulus. The speakers anticipate a soft landing for the economy with growth slowing down, but not a recession. The fixed income team emphasizes the appeal of investment-grade corporates, particularly in the financial sector, which has solid fundamentals and attractive valuations.
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