In the wake of “the year of the shutdown,” uncertainty still remains despite promising news on the vaccine front. COVID-19, like other events that can trigger market volatility, affected valuations—and created opportunities—that can be leveraged in the course of implementing a multi-sector relative value approach. According to Newfleet, spread sectors will offer better value than U.S. Treasuries and other government-related debt in 2021.
Newfleet continues its “up-in-quality” bias across portfolios while currently constructive on the macroeconomic outlook. Stabilizing economic fundamentals, combined with continued provision of excess liquidity (beyond the real economy’s needs) by the major central banks should support further appreciation of risk assets. Newfleet is confident that in this environment, there will be opportunities to exploit inefficiencies within sectors and take advantage of dislocations. Credit selection, a major driver of performance last year, once again is in focus based on valuations.
Attend this webinar to hear David Albrycht, CFA, President and Chief Investment Officer of Newfleet Asset Management, provide his 2021 fixed income outlook and multi-sector positioning for the year ahead.
Topics that will be covered include:
- Global macro expectations
- Key risks
- Spread sector outlook
CFP, CIMA®, CPWA®, CIMC®, RMA®, and AEP® CE Credits have been applied for and are pending approval.
David Albrycht, CFA
President and Chief Investment Officer
Newfleet Asset Management, LLC
James Jessup - Moderator
Assistant Vice President, Product Management
Virtus Investment Partners
