In this commentary I’ll discuss opportunities that are emerging as markets continue to fall. I’ll also examine the impact of bond losses on conventional 60/40 portfolios. Finally, I’ll look at some of the remaining challenges that face stock and bond markets as we enter the final quarter of the year.

We are stuck. We have spent hours debating the jargon from the Fed like “transitory”, “growth below potential”, “soft landing”, and the latest one they have dragged out, “growth recession.” Trying to wring market direction from these words is fruitless, yet endlessly compelling

One week ago today, our algos finished moving to an invested position for our High Yield Bonds allocations across our models. After this move, high yield bonds have continued to advance this week, delivering gains for these allocations.

One week ago today, our algos finished moving to an invested position for our High Yield Bonds allocations across our models. After this move, high yield bonds have continued to advance this week, delivering gains for these allocations.

One week ago today, our algos finished moving to an invested position for our High Yield Bonds allocations across our models. After this move, high yield bonds have continued to advance this week, delivering gains for these allocations.