Rate Hikes May Have Gone Too Far – And Bonds Don’t Look Bad
Fixed-income markets took a severe beating in 2022 as central banks administered monetary tightening to beat back surging inflation. While markets have seen a bounce-back, in the expectation that the tightening is close to the end, is the enthusiasm warranted? “The bounce-back that we saw earlier this year has already waned since we are at fresh highs…