Market Views: Is this the year of fixed income?

After an unusually bad year for global public markets, the general expectation is that 2023 ought to see fixed income bounce back as an asset class on the back of rising interest rates. The US Federal Reserve (the Fed) announced its latest policy decision on February 1, hiking the benchmark interest rate by an expected 25 basis points, scaling back after a year of larger-scale hikes noting that inflationary pressures have eased. This will, in turn, influence interest rate policies…