Where are the Lags?
The data dependent Fed is waiting for signs of policy lags, but is there a chance that they’ve already hit? Bruce Monrad explains why he thinks the majority of the impact of rising rates is already baked into markets.
Month: November 2023
High Yield Spreads: The Chicken or the Egg
High Yield spreads are currently running below their historical highs, but that doesn’t necessarily mean that they have to widen. Portfolio manager Bruce Monrad explains how high yield spreads are sometimes both a result and target of monetary policy.
