The Weekly Fix

Stephen Fitzsimmons, Institutional Portfolio Manager on the BlueBay U.S. Fixed Income team, steps away from election chatter to dive into the latest economic data. With a major miss on October’s payrolls, resilient Q3 GDP, and rising Core PCE, the numbers suggest a complex path ahead. Will the Fed cut rates to support a softening labor market?

Andrzej Skiba, Head of BlueBay U.S. Fixed Income, breaks down what fixed income investors should consider with just a week to go until the U.S. presidential election. The race is neck and neck, with battleground state polling indicating it could go either way. Our guidance? Hold steady and await the outcome.

Stephen Fitzsimmons, Institutional Portfolio Manager on the BlueBay Fixed Income team, shares his insights on how upcoming U.S. elections will likely shape the medium-term outlook for fixed income markets. With key data releases on the horizon—such as consumer sentiment, PMI, home sales, PCE, and GDP—the markets could see some movement.

Mark Shohet, Portfolio Manager on the BlueBay U.S. Fixed Income team, provides insights on the ongoing dynamics in the financial markets and explains why maintaining exposure to floating rate assets in a diversified portfolio can be a prudent move given the uncertain rate environment.

Andrzej Skiba, Head of BlueBay U.S. Fixed Income at RBC GAM, dives into why calls for aggressive rate cuts in the U.S. have diminished and how the strong jobs report validated our stance of a more measured approach. But it’s the outcome of the U.S. Presidential election that is of key importance to fixed income markets, and positioning matters more than ever.

Tim Leary, Senior Portfolio Manager on the BlueBay U.S. Fixed Income team, discusses the upcoming election and the potential impact on fixed income markets.

Stephen Fitzsimmons, Institutional Portfolio Manager on the BlueBay U.S. Fixed Income Team, examines how the market is absorbing last week’s rate cut, what ways the US elections could influence monetary easing, and the potential impact widespread tariffs could have on inflation.

The September high yield new issue calendar has been active. Peter Keenan, Senior High Yield Trader on the BlueBay U.S. Fixed Income Team, discusses what events have influenced the timing of all these new issues, the performance of lesser-known issuers vs. well-known issuers, and why new issue activities give us an opportunity to engage with issuer management teams.

There may be a sense of déjà vu among investors as September’s soft markets mirror the start of last month, notes Tim Leary, Senior Portfolio Manager on the BlueBay U.S. Fixed Income Team. Although market direction remains data dependent, rate cuts are a forgone conclusion. And despite any market volatility from events like tonight’s Presidential debate, the path of rates will likely remain lower.

The time has come. With inflation under control, Jerome Powell signaled rate cuts are on the way, leading to markets rallying. The question now turns to how much and when. Eric Hathaway, Senior Portfolio Manager on the BlueBay U.S. Fixed Income Team, examines this question and the Fed’s new enemy: the labor market.

Tim Leary, Senior Portfolio Manager on the BlueBay U.S. Fixed Income Team, discusses how the high yield bond market has returned to its previous levels after the recent volatility.

Stephen Fitzsimmons, Institutional Portfolio Manager on the BlueBay U.S. Fixed Income Team, examines how the market recovered from an extremely volatile week and shares how we took advantage of that volatility to readjust our portfolios before markets calmed down.

Everyone. Remain. Calm. Andrzej Skiba, Head of BlueBay U.S. Fixed Income, discusses why the market may be overreacting to the most recent labor market data in this episode of The Weekly Fix.

In today's Weekly Fix, Stephen Fitzsimmons, Institutional Portfolio Manager on the BlueBay U.S. Fixed Income Team, discusses our expectations around the upcoming FOMC meeting, highlighting rate cut likelihood, and shares our observances around recent market activity.

Tim Leary, Senior Portfolio Manager on the BlueBay U.S. Fixed Income Team, tunes out the political noise and focuses on the future of the market in this episode of The Weekly Fix.

In this episode of The Weekly Fix, Stephen Fitzsimmons, Institutional Portfolio Manager on the BlueBay U.S. Fixed Income Team, discusses what the recent inflation measures and the attack on former President Trump mean for markets.

In this episode of The Weekly Fix, Stephen Fitzsimmons, Institutional Portfolio Manager on the BlueBay U.S. Fixed Income Team, discusses the current state of the markets at the half-way point of 2024, and reflects on the changes and consistencies in the market since last year.

In this episode of The Weekly Fix, Ajeet Atwal, Portfolio Manager on the BlueBay U.S. Fixed Income Team, examines the supply and demand factors that are driving the ongoing strength of the leveraged loan market in the U.S. Lower Credit Quality Securities. CLO portfolios and interest could be deemed by rating agencies to have substantial vulnerability to default in payment of interest and/or princi...

BlueBay Head of US Fixed Income Andrzej Skiba discusses why slowing inflation may lead the way to rate cuts later this year and into 2025.     Current projections are for one rate cut expected this year and four in 2025. Before rate cuts commence, incoming data needs to further validate recent easing of inflationary pressures. Looking at the fixed income universe, we continue t...

On today’s episode of The Weekly Fix, Stephen Fitzsimmons, Institutional Portfolio Manager on the BlueBay U.S. Fixed Income Team, discusses how each data release has been causing volatile price movements in fixed income markets. And he notes that this price movement opens opportunities to adjust portfolio strategy tactically.

In today’s episode of The Weekly Fix, Tim Leary, Senior Portfolio Manager on the BlueBay U.S. Fixed Income Team, reviews the “haves” and the “have-nots” in today’s high-yield market and explains why investors should find the right balance between safe, income-generating bonds and investments in unloved areas of the market.

In this week’s episode of The Weekly Fix, Stephen Fitzsimmons, Institutional Portfolio Manager on the BlueBay U.S. Fixed Income team, discusses how risk assets and rates were bolstered by the latest release of inflation data.

In this episode of The Weekly Fix, Tim Leary, Senior Portfolio Manager on the BlueBay U.S. Fixed Income Team, discusses how disappointing CPI data have pushed yields higher so far this year, while lack of new supply has squeezed the market.

In this episode of The Weekly Fix, Stephen Fitzsimmons, Institutional Portfolio Manager on the BlueBay U.S. Fixed Income Team, discusses how different data readings over the past week moved markets, as investors seek clues to future Fed moves.

In the latest episode of The Weekly Fix, hear from Andrzej Skiba, Head of BlueBay U.S. Fixed Income at RBC GAM, on why this week’s FOMC meeting will likely see the Fed on hold, and what investors can expect if the April CPI Core released mid-month lets us down again and the “higher for longer” narrative takes hold.