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Principal Asset Management - Thu, 10/12/2023 - 17:45

Principal Fixed Income Perspectives

Recession takeoff delayed but not canceled. While the timing of a recession remains uncertain, unique opportunities exist for fixed income investors as we head into the final quarter of 2023.

    1. Policymakers are likely to remain hawkish, countering market expectations for rate cuts in 2023 and budgeting room for easing in 2024. This should support elevated front-end yields.
    2. With market expectations shifting toward a soft landing, credit spreads are likely to remain rangebound, exhibiting a widening bias as a recession becomes more evident.
    3. Though economic data has been resilient, key market indicators continue to signal an impending recession, and we strongly believe there is further economic slowing on the horizon.


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Principal Asset Management

With public and private market capabilities across all asset classes, Principal Asset ManagementSM and its specialist investment teams are focused on harnessing the potential of every opportunity to secure an advantage for its clients.  
The 23rd largest manager of worldwide institutional assets, Principal Asset Management applies local insights with global perspectives to identify compelling investment opportunities and deliver distinctive solutions aligned with client objectives.1  
Principal Asset Management is the global investment management business for Principal Financial Group® (Nasdaq: PFG), managing $501.5 billion in assets and recognized as a Top 10 “Best Places to Work in Money Management” for 11 consecutive years.2,3  
1 Managers ranked by total worldwide institutional assets as of 31 December 2021. Pensions & Investments, “Largest Money Managers,” December 2021.  
2 Principal Asset Management AUM as of December 31, 2022.  
3 Pensions & Investments, “Best Places to Work in Money Management” among companies with 1,000 or more employees, December 2022.  
Principal Asset ManagementSM is a trade name of Principal Global Investors, LLC.

Edward Kakenmaster  
Managing Director, Insurance Sales & Relationship Management  
Kekenmaster.Edward@principal.com  
+1.515.878.1334

www.PrincipalAM.com  
711 High Street  
Des Moines, Iowa 50392

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