TD's Misra on What the Delta Variant Means for Bonds

The transcript discusses recent trends in the bond market, focusing on the impact of the delta variant and potential growth slowdown on the Federal Reserve's interest rate decisions. It highlights market reactions, including pricing in growth risks and inflation concerns. The speaker shares investment strategies, emphasizing the importance of staying long on fives due to anchored front-end rates. The transcript also clarifies separate investment calls and the decline in inflation risk, suggesting a curve steepening bias.

What factors are influencing the Fed's potential decision to hike rates?

How does the speaker view the relationship between long end rates and inflation risk?

What does the speaker mean by 'inclusive recovery' in the context of the labor market?

What is the significance of the 'long in fives' strategy mentioned by the speaker?

How does the speaker differentiate between the front end and long end of the market?