The Insight: Conversations – Credit Picker’s Market with Wayne Dahl, Robert O’Leary, and Mark Jacobs
The Memo by Howard Marks
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Recent Shifts in the Yield Curve and Investor Expectations
The yield curve has undergone significant changes in recent months, reflecting investor expectations and the unpredictability of interest rates. At the beginning of the year, the market predicted a rate of 4.5 percent by 2023, but after various challenges, it dropped to below 4 percent by the end of March. Currently, rates are at about 5.5 percent. This unpredictable and volatile ride in interest rates illustrates the challenge of forecasting and understanding the Federal Reserve's path.
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