RBC Global Asset Management- Wed, 12/04/2024 - 08:43

Markets react to Trump’s tweets, comments and assertions

Stephen Fitzsimmons, Institutional Portfolio Manager on the BlueBay U.S. Fixed Income team, discusses how the market is digesting recent Trump news and how the Fed may react to incoming data.

Although Trump continues to talk-up tariffs, it remains to be seen how much of this is a negotiating tool.
Meanwhile, Trump’s assertions are disrupting markets, providing opportunities for active investors to generate excess returns.
We believe that the Fed, although perhaps not entirely out of necessity, will cut another 25 bps before pausing to assess income data.
Our thinking has been to lighten up on interest rate duration, taking gains out the curve and redeploying proceeds into shorter dated maturities.

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RBC Global Asset Management

RBC Global Asset Management (RBC GAM) is the asset management division of Royal Bank of Canada (RBC), the 5th largest bank in North America and 8th largest in the world based on market capitalization. As an asset manager with global scope and industry-leading management capabilities, our purpose is to provide clients an unrivalled experience of investment and service excellence. With professionals in North America, Europe and Asia, RBC GAM provides a comprehensive range of investment solutions and services to both individual and institutional investors. Our global scope, knowledgeable investment professionals and commitment to excellence drive traditional and leading-edge solutions that address and evolve with our clients' investment objectives. With more than $412 billion in assets as of 3.31.23, RBC GAM's 18 investment teams composed of more than 380 investment professionals are committed to providing clients around the globe with appropriate investment solutions.

Andrew Tewksbury
Director, Institutional Sales
drew.tewksbury@rbc.com
Office – 203-241-1005

https://institutional.rbcgam.com/en/us/

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