Stocks and bonds could rally 10% next year, says Jay Hatfield of Infrastructure Capital Advisors, who explains why he's more optimistic than many strategists.
Markets have bottomed and things are looking up for stocks and bonds, which could rally more than 10% in 2023, according to one portfolio manager. Jay Hatfield, CEO and portfolio manager at Infrastructure Capital Advisors, told CNBC Pro that his bullish case hinges on his expectation that inflation will be "declining rapidly.
One asset class he highlighted was preferred stocks, which have the characteristics of both stocks and bonds . In other words, they trade on exchanges like stocks but, like bonds, they're issued at face value and pay dividends. They are also like bonds in that when the value of the preferred stock goes down, yields go up. However, they typically offer a higher yield than other fixed income products and can have more risk.
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