Navigating rate cuts, tariffs and fiscal concerns in fixed income portfolios

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments.

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Fed Chair Jerome Powell clearly signalled at Jackson Hole that a rate cut at the Fed’s September meeting is likely. In this episode of the Beyond Markets podcast, Helen Freer talks to Julius Baer’s Head of Fixed Income Research, Dario Messi, about what a resumption of the Fed’s rate-cutting cycle would mean for bond markets. They also discuss the current fiscal concerns and the expected impact of tariffs on inflation, both in and outside of the US.

• (00:32) - Introduction
• (01:19) - What would the resumption of a rate-cutting cycle by the Fed mean for bond markets?
• (02:56) - What impact will the fiscal concerns have?
• (04:06) - What duration is currently appropriate in a bond portfolio?
• (05:01) - What impact might tariffs have on fixed income markets?
• (07:34) - Is the Fed’s independence really in danger?
• (09:15) - Should investors consider corporate credit exposure?
• (10:06) - Would exposure to European corporate bonds also be appropriate?
• (11:40) - Summary and closing remarks

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