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CIP Quips

Patient Minutes

In the News:

On Wednesday the Federal Reserve released the minutes from their December FOMC meeting.  Many analysts agree that the Fed is showing a willingness to delay further interest rate hikes given the recent volatility in financial markets caused by increasing uncertainty in the overall global economic outlook. Michelle Meyer, head of U.S economics at Bank of America Merrill Lynch stated that “the minutes suggest a cautious approach to future monetary policy”.  Inflation appears to be a concern as well.  Last week Fed Chairman Powell stated, “We will be patient as we watch to see how the economy evolves, given the low inflation outlook.” He also stressed that monetary policy was not on a preset course.  The FOMC “Dot-Plot” suggests that little change is on the horizon, but it does seem to indicate future additional tightening. 


Our Thoughts:

We do not think that the Fed is done raising rates but more importantly the effects of those rate hikes need to be monitored more closely.  Last year we saw 10 year treasury yields reach highs not seen in years but finished the year very close to how the year began.  As with Fed Chairman Powell’s comments last week as per taking a “risk managed approach to policy decisions in coming months” we also believe a risk managed approach is warranted.  We feel we have a unique perspective when it comes to fixed income and the generation of income. At Roosevelt, we believe in not taking excessive risks to generate income today that may jeopardize the ability of the portfolio to provide income in the future.  To produce high levels of income, many portfolios assume a variety of different types of risks. We take a different approach. The Current Income Portfolio (CIP) seeks to benefit investors who desire high and reliable levels of income from an investment grade portfolio. CIP seeks to provide a substantial income stream by maximizing annual cash flows while preserving capital. 

Note: Each shaded circle indicates the value (rounded to the nearest 1/8 percentage point) of an individual participant's judgment of the midpoint of the appropriate target range for the federal funds rate or the appropriate target level for the federal funds rate at the end of the specified calendar year or over the longer run. One participant did not submit longer-run projections for the federal funds rate



This information is intended solely to report on investment strategies and opportunities identified by Roosevelt. Opinions and estimates offered constitute our judgment and are subject to change without notice, as are statements of financial market trends, which are based on current market conditions. This material is not intended as an offer or solicitation to buy, hold or sell any financial instrument. References to specific securities and their issuers are for illustrative purposes only and are not intended to be, and should not be interpreted as, recommendations to purchase or sell such securities. Please contact us at 646-452-6700 if there is any change in your financial situation, needs, goals or objectives, or if you wish to initiate any restrictions on the management of the account or modify existing restrictions, or if you would like to request a copy of our Code of Ethics. Our current disclosure statement is set forth on our Form ADV Part II, available for your review upon request, and on our website, www.rooseveltinvestments.com.

Past performance is not a guarantee of future results. Indices are unmanaged and cannot accommodate direct investment. Themes assigned as per Roosevelt Investments’ evaluation. Risk tools may include cash or other securities that we believe possess a low or inverse correlation to the overall market.


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The Roosevelt Investment Group, LLC is an investment management firm that manages equity, fixed income, and balanced assets for primarily U.S. clients. The Roosevelt Investment Group, LLC is an investment adviser registered with the U.S. Securities and Exchange Commission and notice filed in all 50 states.

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