Quarterly fixed income perspectives: looking ahead to 2Q 2023

Principal Quarterly fixed income perspectives: looking ahead to 2Q 2023

Economic turning points

With the first quarter of 2023 behind us, some economic tides are starting to turn.

1. After a year of aggressive central bank tightening, the peak policy rate for the cycle is likely on the near-term horizon, which has important implications for fixed income investors.

2. Historically, a pause in the hiking cycle marks a turning point in duration, creating a tailwind for fixed income.

3. As peak policy rates come into focus, risk assets may enjoy a relief rally initially, but spreads are likely to come under renewed pressure later in the year as recession fears grow.

Principal Asset Management
Principal Asset Management

With public and private market capabilities across all asset classes, Principal Asset Management℠ and its investment specialists look at asset management through a different lens, creating solutions to help deliver client investment objectives. By applying local insights with global perspectives, Principal Asset Management identifies distinct and compelling investment opportunities for more than 1,100 institutional clients in over 70 markets. ¹ Principal Asset Management is the global investment solutions business for Principal Financial Group® (Nasdaq: PFG), managing $507.1 billion in assets¹ and recognized as a Top 10 “Best Places to Work in Money Management²” for 10 consecutive years.
¹ As of June 30, 2022
² Pensions & Investments, 2021

Amanda Wilson
Managing Director, Institutional Sales & Relationship Management

711 High Street
Des Moines, Iowa 50392

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