August Fixed Income Outlook in 5 Charts
August 23, 2018 at 12:25 PM EDT
By Sage Advisory 1. The real policy rate, aka the Federal Funds rate minus the core inflation rate, remains below zero. Compared to the level of economic growth in the U.S., conditions are still easy relative to past market cycles. 2. After seven rate hikes since 2015, we believe that we are seeing...