Federal Reserve Chair Jerome Powell spoke at a conference Wednesday morning, celebrating 100 years of the Fed's Division of Research and Statistics. While he made no comment on the status of the economy or monetary policy, the Dow Jones Industrial Average still rose after his speech. Investors have been closely eyeing any and all comments from the central bank to get a better insight as to future movement in the economy, as fears of a recession still loom.
"Looking at fixed income at particular, much more attractive and relative terms into equities which look expensive and absolute in relative terms," Chubb explains."Avoiding some more of those cyclical areas of the market, we really prefer more of a barbelled approach right now, having that late-cycle environment type of positioning, focus on defensive growth as well as some of those late-cycle cyclicals that are also levers for the more cyclical thematic long-term opportunities.
-- Indonesia sold $2 billion in the form of a US-currency sukuk, its first such issuance in 18 months against the backdrop of a global rise in borrowing costs.