Mixed Bank Messages Upstage the Fed’s Dovish Turn
While the Federal Reserve’s March rate hike was delivered as expected, the decision was paired with several dovish signals and mixed messages regarding the banking sector.
Prudential Tower
655 Broad Street
Newark, NJ, United States
Prudential Tower
655 Broad Street
Newark, NJ, United States
Robert Tipp, CFA, is a Managing Director, Chief Investment Strategist, and Head of Global Bonds for PGIM Fixed Income. In addition to co-managing the global multi-sector strategies, Mr. Tipp is responsible for global rates positioning for Core Plus, Absolute Return, and other portfolios. Mr. Tipp has worked at the Firm since 1991, where he has held a variety of senior investment manager and strategist roles. Prior to joining the firm, he was a Director in the Portfolio Strategies Group at the First Boston Corporation, where he developed, marketed, and implemented strategic portfolio products for money managers. Before that, Mr. Tipp was a Senior Staff Analyst at the Allstate Research & Planning Center, and managed fixed income and equity derivative strategies at Wells Fargo Investment Advisors. He received a BS in Business Administration and an MBA from the University of California, Berkeley. Mr. Tipp holds the Chartered Financial Analyst (CFA) designation.
While the Federal Reserve’s March rate hike was delivered as expected, the decision was paired with several dovish signals and mixed messages regarding the banking sector.
Robert Tipp, CFA, Chief Investment Strategist, and Head of Global Bonds, outlines why bonds are set up for solid returns in the years ahead.
Bolstered by broadening expectations for moderation in growth and inflation data, the Fed's February meeting reignited the market's search for yield and fueled the rally in risk assets.
All information as of September 30, 2022. For purposes of the biographies, the “Firm” is defined as Prudential Financial, Inc. ("PFI"). All PGIM and Prudential named entities are subsidiaries or affiliates of PFI. PFI of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom.