2023 Investment Outlook

Mid-year Bond Market Outlook

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2024-06-30
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Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
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The views expressed are those of the authors at the time of writing. Other teams may hold different views and make different investment decisions. The value of your investment may become worth more or less than at the time of original investment. While any third-party data used is considered reliable, its accuracy is not guaranteed. For professional, institutional, or accredited investors only.

This is a section of our 2023 Mid-year Investment Outlook, where specialists from across our investment platform share insights on the economic and market forces that we expect to influence portfolios in the second half of this year.

In the second half of 2023, we believe that fixed income — particularly higher-quality assets — will continue to recover from last year’s dismal market returns. Despite some bouts of macro turmoil along the way, year to date, most fixed income sectors already have posted positive excess total returns relative to duration-equivalent government bonds. We view the balance of the year as continuing to present investable opportunities for discerning fixed income allocators. To be successful, however, it’s important to choose your entry points carefully and to be mindful of the risks that the current investment landscape poses.

Outlook contents

Showing of Insights Posts
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Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Fixed income 2023: Will opportunity keep knocking in the second half?

Learn where Fixed Income Strategist Amar Reganti sees opportunities in the fixed income market today and dive deeper into the three key themes he thinks investors should consider going forward.

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Article
2024-06-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Credit market outlook: Expect greater opportunities in back half of 2023

Against a backdrop of elevated recession risks and banking-sector stress, Fixed Income Portfolio Manager Rob Burn identifies relative-value sector opportunities in the credit market.

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Article
2024-06-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

The “money illusion” economy: Misplaced faith in markets?

Fixed Income Portfolio Manager Brij Khurana shares a skeptical view of US Federal Reserve policy, his assessment of the current market backdrop, and his view of what the future could hold.

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Article
2024-06-30
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Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Global high yield: Attractive entry points could soon emerge

Fixed Income Portfolio Manager Konstantin Leidman shares his outlook for high-yield fixed income for the rest of this year and beyond.

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Article
2024-06-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

A quiet bull market in EM local debt?

Brian Garvey illustrates the recent strength of emerging markets local debt following an extended period of underperformance. 

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Quick Take
2024-06-30
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Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Related fixed income content

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Fixed income 2023: Ripe for a reversal

Three of our fixed income investment professionals discuss the potentially compelling opportunity set to be found in today's global bond markets.

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Whitepaper
2024-03-31
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Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Time for a new playbook on bonds

Is it time to add to fixed income allocations? Multi-Asset Strategist Adam Berger and Fixed Income Strategist Amar Reganti offer their views, as well as thoughts on specific areas of opportunity.

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Article
2024-05-31
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Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

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