Fixed Income Conversation Corner with Clayton Triick (Angel Oak) and Leslie Falconio (UBS CIO)
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A look at the landscape for Agency RMBS and the Housing Market, including an outlook for rates, and thoughts around broader fixed income positioning. Featured are Clayton Triick, Head of Portfolio Management of Public Strategies with Angel Oak Capital Advisors, and Leslie Falconi
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4 itemsFixed Income Conversation Corner with Clayton Triick (Angel Oak) and Leslie Falconio (UBS CIO)
The desk argues Agency RMBS and the housing market are well-positioned as the Fed pivots from rate-cut fears to inflation vigilance, with the 10-year yield rising ~50bp from 3.94% in late February. Per the full note [source], this shift has repriced fixed-income assets, making agency mortgages an attractive diversifier in a higher-for-longer rate environment. The synthesis sees near-term value in MBS but warns that geopolitical whipsaw could tighten spreads. No consensus target is tracked as no FX pair is cited.
Fixed Income Conversation Corner with Alex Obaza (T.Rowe Price) and Leslie Falconio (UBS CIO)
Fixed Income Conversation Corner with Alex Obaza (T.Rowe Price) and Leslie Falconio (UBS CIO)
The desk reads the current fixed income landscape as favorable for fixed-income investors, aligned with sentiments from T. Rowe Price and UBS that are echoed in their recent commentary. As noted by Leslie Falconio and Alex Obaza, the performance of fixed income has outstripped expectations, particularly with yields becoming more favorable, indicating a robust comeback for this asset class (per the full note [source]). A notable trend highlighted is the declining volatility, which allows for greater investor confidence and positions fixed income as attractive relative to other asset classes.
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