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Pause for Effect

This chart description is for illustrative purposes only and its accuracy cannot be guaranteed. Please see full disclosures at end of PDF document in the web post. General description: Two-line chart highlighting historical rate cycles and fed funds rate and bond index returns. Chart subtitle: Fixed income performance has typically been robust during pause cycles that follow rate increases. Chart source: Bloomberg as of September 30, 2023. Chart description: Y-axis is labeled “Policy Rate and 1-Year Total Return” and ranges from -20% to +40%. X-axis is labeled in full yyyy format, in 5-year increments, from 1983 to 2023. Pause cycles are shaded in light green. Federal Funds Rate – Upper Bound is plotted in light blue line. U.S. Aggregate Bond Index is plotted in dark orange line. Please contact us for the full dataset. End chart description. See disclosures at end of document.
Posted on October 19, 2023October 19, 2023 Full size 1911 × 1033

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