First Quarter 2023 Market Outlook

As macro concerns continue to shift, markets anticipate an easing in inflation and monetary policies in 2023. Although markets’ opposition to central bank guidance will likely lead to periods of volatility, it brings opportunities as well. The ongoing uncertainty enhances the ability to grasp elevated yields, select attractive credits amid greater dispersion, and exploit divergences across global regions.

In ““Game on” for Bonds,” Robert Tipp, CFA, Chief Investment Strategist and Head of Global Bonds, explores the conditions that should contribute to stronger fixed income returns in the quarters ahead.

As concerns about an economic recession come to the fore, Daleep Singh, Chief Global Economist and Head of Global Economic Research, looks at the characteristics of a potential downturn. “Assessing 2023’s Mixed Bag of Macro Challenges,” also provides our regional macro outlooks.

Our portfolio managers subsequently indicate how these factors—including the ESG issues affecting global supply chains—influence the opportunities within their respective sectors. 

PGIM Fixed Income
PGIM Fixed Income

PGIM Fixed Income is a global asset manager offering active solutions across all fixed income markets. The company has portfolio management and research teams in Newark, New Jersey, London, Amsterdam, Zurich, Munich, Singapore, Hong Kong, and Tokyo. As of December 31, 2022, the firm has $770 billion of assets under management, including $350 billion in institutional assets, $169 billion in retail assets, and $251 billion in proprietary assets. Nearly 1000 institutional investors entrust PGIM Fixed Income with their assets.

Rupal Shah
Principal, Client Advisory Group
655 Broad Street
Newark, NJ, USA 07102

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