Bloomberg Surveillance Bloomberg Surveillance: Markets, Metals & Macro Moves
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Oct 14, 2025 Karen Manna, a Vice President at Federated Hermes, sheds light on front-end fixed income opportunities while navigating market uncertainties due to data delays. She also discusses the impact of bank earnings on bond markets and shares insights on credit selection. Joining her is Shana Sissel, founder of Banrion Capital Management, who explores the democratization of private investment strategies and the challenges of product quality and investor education. Together, they tackle the complexities of today's financial landscape, offering valuable perspectives.
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Weaker Dollar Cuts Both Ways
- Remember a weaker dollar helps multinationals but raises import costs and, with tariffs, can be a headwind for the real economy.
- Factor currency and tariff impacts into earnings and inflation forecasts.
Front-End Fixed Income Focus
- Focus fixed income at the very front end of the curve, where Fed policy has the most influence.
- Use cash, money market funds and short-maturity instruments to capture Fed-driven yields.
Clip Coupons, Avoid Deep Junk
- Clip coupons with modest credit risk; prefer BBB corporate credit and avoid deep high-yield like CCCs.
- Stick to fixed income basics: quality, front-end duration and careful credit work.