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Date: August 8, 2013 Duration: 00:60 Time: 12:00 ET
Fixed Income Strategy: How High?
Recent bond market losses lay bare the risks in fixed income and many investors are left wondering how to reposition their portfolios. In this session, Jeff Rosenberg, BlackRock’s Chief Investment Strategist for Fixed Income, will examine these developments and provide BlackRock’s outlook and actionable ideas for fixed income asset classes including high yield, bank loans and corporates, among others. Attendees will also learn how to think about the longer-term outlook and how to position “conservative” money.
Jeffrey Rosenberg, Managing Director, is BlackRock's Chief Investment Strategist for Fixed Income. His responsibilities include working closely with the Chief Investment Officer of Fixed Income, fundamental portfolios and team to develop BlackRock's strategic and tactical views on sector allocation within fixed income, currencies and commodities.
Prior to joining BlackRock, Mr. Rosenberg spent nearly 10 years at Bank of America Merrill Lynch as the Chief Credit Strategist. His most recent role included coordination of strategy across all Fixed Income, Securitized Assets, Credit, FX and Commodities and formulating tactical and strategic risk-taking recommendations for external clients and internal trading desks. Jeff brought innovation to his credit strategy work producing the first commercialized quantitative corporate credit analytics system from a dealer firm. At BAML, Mr. Rosenberg and his team were consistently ranked in the top Institutional Investor High Grade Strategy teams and General and High Yield Strategy teams. The highly regarded Situation Room report, for which Mr. Rosenberg was editor and contributor, continues to be ranked among the top research reports in our industry.
Mr. Rosenberg earned an MS degree in Computational Finance from Carnegie Mellon, a BA degree in mathematics from the University of Minnesota, and a BA degree in finance from the University of Wisconsin. He has been a Chartered Financial Analyst since 1997.
In general, the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities). Fixed income securities also carry inflation risk, liquidity risk, call risk and credit and default risks for both issuers and counterparties. Lower-quality fixed income securities involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Foreign investments involve greater risks than U.S. investments, and can decline significantly in response to adverse issuer, political, regulatory, market, and economic risks. Any fixed-income security sold or redeemed prior to maturity may be subject to loss.