How to Position Fixed Income as the Fed Eases
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About This Episode
Investors are choosing bonds in record numbers – in 2023, global bond ETFs gathered an annual record of over $300 billion in flows with iShares leading with $113 billion. My guest today will explain why this will continue, as many investors are still significantly underweight to fixed income, with a 22% average allocation. You will hear why investors need to step out of cash and move faster into fixed income because, historically, the market has priced in rate actions long before they occur.
About Our Guest
Steve Laipply is the managing director and global co-head of iShares fixed income ETFs for BlackRock.
His cross-functional team is responsible for supporting client engagement for both institutional and wealth investors, creating thought leadership on fixed income markets and fixed income ETFs, driving new product innovations, and partnering with index providers and fixed income broker/dealers. Mr. Laipply has authored and co-authored articles on fixed income markets and investing that have been published in various academic journals and textbooks.
Previously, Mr. Laipply was the head of U.S. iShares fixed income strategy and was a member of BlackRock's systematic fixed income product strategy team. Prior to joining BlackRock in 2009, Mr. Laipply was a senior member of the interest rate structuring and strategic solutions groups at Bank of America Merrill Lynch where he helped to develop investment and risk management solutions for institutional clients across interest rate, credit and securitized exposures.
Mr. Laipply earned a BS degree in finance from Miami University, and an MBA in finance from the Wharton School of the University of Pennsylvania.
Show Notes
- BlackRock Flexible Income ETF (BINC)
- BlackRock Total Return ETF (BRTR)
- iShares iBonds ETFs
- iShares High Yield Systematic Bond ETF (HYDB)
- iShares Core U.S. Aggregate Bond ETF (AGG)
- iShares Core Total USD Bond Market ETF (IUSB)
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