In today's episode, fixed-income portfolio manager Jeff Moore discusses fund positioning and shares his thoughts on the upcoming Jackson Hole Symposium. Jeff manages Fidelity Multi-Sector Bond Fund, Investment Grade Total Bond Fund, and several other mandates. Jeff says he and his team do not expect anything specific on quantitative easing and raising rates at the Jackson Hole meeting. Jeff also shares his thoughts on demographics and what's influencing the markets. He notes that the population of Japan, Italy, and Russia is in decline and that the U.S. and Canada are likely to add 100% more sixty-year-olds in the next ten years. Sixty-year-olds are savers, so they are likely to demand more bonds, more rates, or more dividends. Jeff also discusses fund positioning across his various fixed-income funds.

Recorded on August 18, 2021.

Transcript (PDF): https://www.fidelity.ca/cs/Satellite/doc/transcript-podcast-moore-fixed-income-monthly-18-aug.pdf