Last October, we did an episode asking whether it was a good time to buy bonds answering, 'Yes, it probably was', with the release date marking the 16 year high in US Treasury yields. Talk about good timing. But after a 10% gain into year end, the last two months have been more challenging for global fixed income. Resilient data in the US and elsewhere have deferred expectations for easing in the large developed economies. Equities have loved the good news but the best you can say for bonds is that returns year to date are flat. Marvin Loh is back on the podcast this week to take another look, focusing on how much longer monetary policy needs to be restrictive, whether any of the cracks seen so far in commercial real estate and at regional banks should worry us, what to expect from the Federal Reserve meeting next week and whether this is, indeed, still a good time to buy bonds.
See omnystudio.com/listener for privacy information.