RT Efe (@btcefe)@4rkan5a5 @NickSzabo4 @dood5200 @texasrunnerDFW @haydenbaldwin10 If I was in the fixed income game rather than buying bitcoin with every fiat that I have since 2017, I would be cooked hard.I think stacking the only technically scarce asset works great and I'll keep going doing the same thing for the next decade too. https://t.co/1e7lLjwb3X ...

Core Insights - The first interest rate cut of the year signals a shift from a high-rate, high-yield environment, prompting fixed income investors to consider emerging market (EM) bonds for diversification and yield maximization [1] - A weakening dollar presents opportunities in emerging market assets, as these assets benefit from local currency strength, leading to a tilt towards EM bonds by investors like Jeffrey Gundlach [2][3] Emerging Market Bonds - Gundlach suggests allocating at least 20% to local-currency emerging market bonds due to their higher yields and better economic fundamentals [3] - The Vanguard Emerging Markets Government Bond Index Fund ETF Shares (VWOB) is recommended for gaining exposure to EM bonds, tracking the Bloomberg Barclays USD Emerging Markets Government RIC Capped Index, with a 30-day SEC yield of 5.76% as of September 30 and a low expense ratio of 0.15% [4] Alternate International Options - For fixed income investors seeking lower credit risk, the Vanguard Total International Bond Index Fund ETF Shares (BNDX) is suggested, which tracks the Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index [5][6] - BNDX provides a portfolio of investment-grade bonds with over 7% exposure to emerging market bonds, maintaining a primary focus on developed international markets, and features a low expense ratio of 0.07% [6]

Fixed Income Market Overview - Investors should consider a new approach to investing in today's bond market [1] - The bond market is entering a new era [1] Investment Strategy - Investors should be thinking about investing in today's bond market [1]

Fed Policy & Interest Rates - The market anticipates a 25 basis point rate cut, but there may be three Fed voters dissenting, potentially advocating for a 50 basis point cut [1] - The market will closely monitor the Fed's summary of economic projections, particularly the dot plot, to gauge the expected policy rate for the current and subsequent years [2] - The market is pricing in nearly 150 basis points of cuts for the next year, expecting the Fed to go below 3%, which may be difficult for the Fed to indicate [3] - The market expects the Fed to cut rates drastically, anticipating a new Fed chair next year to aggressively save the cycle and prolong the expansion [11][12] Bond Market Dynamics - The president's influence on the Fed is priced into the term premium, which is the value in extending out the bond curve [4] - Forward rates indicate that the market expects 10-year Treasury yields to be close to 550 basis points (55%) in 10 years, the highest in over 20 years [5] - The market may be pricing in too much term premium, as 550 basis points (55%) growth for the next 20 years is unlikely [6] - The market is already pricing in the Fed getting back to its 2% inflation target [13] Economic Conditions & Inflation - The economy is showing a two-speed dynamic, with high-income consumers continuing to spend, making the inflation story tricky [8] - Core inflation, excluding shelter, grew at 270 basis points (27%) last month, the highest level in the last two years, indicating high-income consumers are doing well [9] - Small businesses are suffering due to high interest rates, leading to firing and a higher unemployment rate [9] - Tariff policies and immigration could lead to stagflationary conditions, with lower growth and higher inflation [14]

What are your what are your expectations. I think all all day long we're going to talk about JP Pal and what people expect. What are your expectations for what J Pal has to say and then how does the market react.I think uh I I think uh and I thought this for quite some time. I don't expect any big uh news out of JPAL today. I think if anything uh they're going to hold back any of that good news uh for the meeting next month, right.Because look uh the markets are expecting hoping uh for a rate cut in the nex ...

UBS Asset Management out with a note to clients today emphasizing the need for a diversified portfolio due to increasing economic growth risks. Evan Brown is behind the note. He is the firm's head of multiasset strategy.Evan, welcome back. Good to see you. Um, so was Friday the beginning of a growth scare in your view.>> I mean, it it was jarring to see, you know, 150,000 uh three-month moving average drop to 35,000. And we've been of the view, I think everyone's been of the view that that there's going to ...

Group 1 - The article emphasizes the distinction between "income investors" who focus on current yield and those who prioritize total return, suggesting that the latter can find mispriced or undervalued securities [1] - It highlights the belief that the next decade will favor fixed income investments, regardless of the investor's approach, whether conservative or aggressive [1] - The company promotes its Conservative Income Portfolio, which targets preferred stocks and bonds with high safety margins, indicating a strategic focus on fixed income securities [1] Group 2 - The article mentions opportunities in undervalued fixed income securities, bond ladders, and high-yield cash parking, appealing to investors looking for attractive investment options [2] - It also offers access to an options portfolio as a bonus, suggesting additional investment strategies available to clients [2]