SVP, Senior Portfolio Manager and Head of Multi-Sector Strategies at Federated Investors in Pittsburgh. Responsible for portfolio management and investment research for fixed income mutual funds and separate accounts. Head of Yield Curve Committee.
Usually, it means the stock market is expecting strong growth and the bond market is expecting recession and one has to be right and one has to be wrong. I don’t think that is the right way to look at it — they are both responding to the Fed.5 July 2019