Fixed Income Outlook  |  Q4 2023

Sector views

  Current quarter
  Previous quarter
    Change from previous quarter
Negative Slightly negative Neutral Slightly positive Positive
U.S. government and agency debt
U.S. tax exempt
Tax-exempt high yield
Agency mortgage-backed securities
Collateralized mortgage obligations
Non-agency residential mortgage-backed securities
Commercial mortgage-backed securities
U.S. floating-rate bank loans
U.S. investment-grade corporates
Global high yield
Emerging markets
U.K. government
Core Europe government
Peripheral Europe government
Japan government

Currency strategy

U.S. dollar versus
Favor other Neutral Favor dollar

334942 11/23

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Sticky inflation and Treasury supply likely to push yields higher

November 1, 2023  |  Fixed Income Outlook

Stay informed on fixed income markets in the fourth quarter. Get timely updates on currency, credit, and the yield curve.

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