Weekly Client Letter – March 11, 2024

Cash Returns Almost as Much as Bonds Over Decade

Weekly Client Letter March 11 2024
Source: Bloomberg, Redwood. Data as of 3/6/2024. Date Range from 2/28/2014 – 2/292024.
  • Investors have been better off staying in T-Bills for the past one, three, and five-year periods.
  • Most of the underperformance began in 2022 when the Federal Reserve began aggressive rate increases.
  • This dramatic reality in public fixed-income is why we have made the adaptations in our investment models over the last 16 months.
  • We will continue to adapt and evolve to this changing fixed-income reality.

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