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1 minutes to read by  BlueBay Fixed Income team, A.Skiba, CFA Aug 7, 2024

BlueBay Head of US Fixed Income Andrzej Skiba discusses why the market may be overreacting to the most recent labor market data, which has triggered a volatile market reaction.    

Key points:

  • A weaker than expected jobs report has investors running for the exits.

  • Conditions in the broader economy remain solid, particularly in the service-sector – which overwhelmingly drives the economy. 

  • We are not concerned with the market's liquidity.

  • We remain of the view that the Fed will cut rates this year as soon as next month.

  • As we’ve been booking profits in an over-extended market of late, this bout of weakness suits us well and we stand ready to take advantage of dislocations.

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