Daniel P. Donnelly, Head of Investment Communications
The Federal Reserve grew increasingly dovish as the first quarter wore on, more closely resembling its highly accommodative global counterparts that the stalwart policymaking body that had launched a tightening cycle only in December. There were few complaints about this change in attitude, however, as markets shook off a dismal January to deliver a decent opening quarter to 2016.
Christine Hurtsellers, CFA CIO Fixed Income; Matt Toms, CFA Head of U.S. Public Fixed Income
Here in the Year of the Monkey, the yin of slowing economic activity is battling the yang of stable (to possibly rebounding) oil prices for influence over inflation. At this point, we expect the latter to prevail.