UBS On-Air: Market Moves
CIO Fixed Income Roundtable Series: 2Q25 performance update
Apr 23, 2025
Frank Sileo and Barry McAlinden, both Senior Fixed Income Strategists at UBS, dive into the current dynamics of the fixed income market. They discuss the performance of preferred securities, highlighting both challenges and resilient sectors amid market volatility. Sileo zeroes in on opportunities in the preferred market, while McAlinden provides insights on investment-grade corporates. Together, they explore strategic investing, emphasizing the importance of a diversified approach amidst changing interest rates and economic uncertainties.
29:36
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Quick takeaways
- Recent market volatility has led to significant fluctuations in Treasury yields, impacting overall investor sentiment and fixed income performance.
- Investment-grade credit markets show decompression, suggesting potential opportunities for high-quality bonds amidst varying sector performances influenced by macroeconomic trends.
Deep dives
Market Volatility and Treasury Yields
Recent market volatility has significantly impacted Treasury yields, with the 10-year Treasury yield experiencing fluctuations from 380 to 457 basis points within a short time frame. This increase in yields is tied to a more complex market situation, including pressure on the balance sheet due to increased leverage and supply. The discussions indicated that the challenges faced by the Treasury market were exacerbated by an unstable economic environment, leading to an overall sense of uncertainty among investors. Consequently, the focus shifted to assessing potential investment opportunities arising amidst this heightened volatility.
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