Macro insights

Finding Opportunity in Uncertainty with Thornburg IM


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Author: Cecilia Prieto

  1. "What we saw in 2022 was not a recession environment.  It was a normalization of rates.  That normalization of rates could accelerate a credit cycle as we get through the process. It is really a question of how we clean up balance sheets and how we normalize labor markets. We could even see a Fed rate cut this year."
  2. "Services prices are now rising at a rate around mid to high single digits.  That’s a real concern."
  3. "What we see is some value out in the intermediate part of the curve for a lot of investors, particularly those that have spent the last several months or even year rolling front-end treasuries. "