Mid-year Bond Market Outlook

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.

Read the full Mid-year Bond Market Outlook.