Leaders At The Bell with Natalia Lojevsky, Head of Wealth Solutions at CIFC, Oct 02, 2026

The October jobs report came in softer than expected with downward revisions and wage growth slowing to its slowest pace in five years. The weak data likely takes an October Fed rate hike off the table, though markets still see over 75% odds of a December hike. Treasury yields initially fell on the news but quickly reversed, highlighting two-sided market risks.

CIFC's Natalia LoJack notes that long-term yields are rising globally as investors demand more compensation for absorbing increased government debt supply and geopolitical uncertainty. The economy remains resilient but bifurcated, with some sectors running hot while interest-rate-sensitive areas like housing feel pressure from mortgage rates above 7%. CIFC positions portfolios primarily in front-end floating rate senior secured credit, which is priced off SOFR rather than treasuries and avoids duration bets. She emphasizes that in credit markets, selectivity matters and what you don't own is as important as what you do. The potential for disorderly unwinding of the Japanese carry trade represents another market headwind.