SAA Monthly Investment Update: November 2024

Using various inflation metrics (which have mostly stabilized for now…), U.S. real yields remain sharply positive across nearly all U.S. fixed income market sectors and remains a contributing factor to market expectations regarding further rate cuts in late 2024 and early 2025. Markets expectations are mixed regarding the potential for economic and fiscal policy changes to push inflation higher and time will tell as we move into 2025.