October 2023 Newsletter | Lots Of Headwinds Mounting. Will One Be The Catalyst?
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October 2023 Newsletter | Lots Of Headwinds Mounting. Will One Be The Catalyst?
Summary
US yield curve rises, with the benchmark 10-year hitting 4.60%.
Pain in bond market centered on interest rate sensitive areas, not credit sensitive areas.
Rise in long-term interest rates driven by oil prices, Fed's QT, potential shutdown, US debt downgrade, and treasury supply.
Core TradesSell Cohen & Steers Tax-Advantage Pref Inc (PTA) Buy PIMCO E…
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