While today's US inflation report will move markets and be important the longer term importance will come from inflation expectations which are all on the rise. In today's podcast we also talk about our views on bond yields given the market's pricing of the Fed Funds Rate a couple of years out and why we still like the barbell strategy. Finally, we discuss Moody's change of the US rating outlook from stable to negative over the weekend and why it matters for credit bonds from Microsoft and Johnson & Johnson , with Peter Garnry and Althea Spinozzi.
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