16th October 2023

T. Rowe Price: Government Bond Issuance Boom to Pressure Yields Higher

Our last blog discussed my belief that a soft landing is a fairy tale. However, many of our portfolios have been positioned short duration. That may not seem logical at first glance.

Simply put, while we believe that short-dated fixed income is attractive in many places, we hold serious concerns about the long end of many global government bond markets. Thinking back to “The Four USTreasury Yield Phases of a Fed Tightening Cycle,” phase three will be longer and more painful.

Investments, Investment Commentary

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