Asks about the interplay between stock and bond markets and whether they are singing from the same hymnal.
Katie Greifeld
Gargi Chaudhuri
States that for all of 2025, stocks and bonds have been singing from the same hymnbook. Equity markets driven by earnings growth, bond markets by the Fed and Treasury delivering what's expected, reducing volatility.
Asks if she worries about inflation given the disinflationary CPI report and if that means adjusting portfolios.
Katie Greifeld
Gargi Chaudhuri
Outlines three key themes for 2026: 1) Gradual deceleration in inflation, allowing the Fed to deliver two rate cuts. 2) Positive growth impulses aiding broader earnings growth. 3) Need for diversifiers due to full valuations.
Asks how the hunt for income is redefined as the Fed eases.
Katie Greifeld
Gargi Chaudhuri
Investors need to be more deliberate in sourcing income from fixed income (active ETFs, multi-asset), equity income, dividend income, and private credit, moving away from the front end.
Notes huge flows into short-term Treasuries (SGOV) and outflows from long-term (TLT), asking when people will step out the curve.
Romaine Bostick
Gargi Chaudhuri
Says this is already beginning. Investors are moving into multi-sector fixed income ETFs and active fixed income (like systematic bond funds) to find yield opportunities away from the front end.