“Discrepancies – and hence opportunities – in securities originate most often when events move faster than quotations.”
– Benjamin Graham
The Through Line: Volatility in treasury markets has surprised investors in recent weeks as participants have grappled with a matrix of issues including the sustainability of global growth, fluidity in U.S. trade policy and the growing relative attractiveness of non-U.S. assets. Over the long run, we expect fixed income investments to continue to provide income and durability for diversified portfolios as they have in the past. However, near term-market volatility could continue as policy and growth issues sort themselves out.
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