Fed's Williams tempers October hike fears

Whilst the 30-year US Treasury bond yield rose for a sixth consecutive session, traders were calmed somewhat by comments from New York Federal Reserve President John Williams yesterday. Markets are now pricing in a 49% chance of a Fed rate hike in October, down from 71% on Monday. This didn't help US indices though: they all declined on the day. Asia saw stocks recover and there was encouraging factory activity data out of China. Today sees the release of the Fed's preferred measure of inflation - the Personal Consumption Expenditures (PCE) Price Index. Our Head of Fixed Income Research, Dario Messi, joined the podcast to explain what is driving higher yields, where he believes investors can find the best value now, and why he believes that a quality bias in credit portfolios is still warranted. (00:00) - Introduction: Lucija Caculovic, Product & Investment Content (00:31) - Markets wrap-up: Bernadette Anderko, Product & Investment Content (06:20) - Fixed income update: Dario Messi, Head of Fixed Income (10:06) - Closing remarks: Lucija Caculovic, Product & Investment Content Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.