A higher interest rate environment has made fixed income exciting – and Bank of America has a couple of stock plays on the theme. The Federal Reserve's series of 10 rate hikes has boosted yields on Treasurys and money market funds. Online banks have also sweetened the rates they pay on certificates of deposit and high-yield savings accounts.
"We believe [ BlackRock and Tradeweb ] are the two best ways to invest in fixed income with both retirees and pension plans raising allocations to traditional fixed income over the next 12 months," he said in a Tuesday report. He added that investors should "expect sizable flows into fixed income, money markets and private credit over the next 12 months and look for bond trading volumes to increase.
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