Bond market is an inviting place to invest, says J.P. Morgan Asset Management Bob Michele

• Fed's hawkish pivot, with nine officials now expecting rate hikes this year, surprised the market.
• Concerns raised about reduced Fed transparency potentially increasing market guesswork and volatility.
• Bond market has already repriced, offers attractive yields, and corporate credit is stable, making it an inviting investment.

Bob Michele discusses the recent hawkish shift by the Federal Reserve, noting the market's surprise at the increased number of officials projecting rate hikes. He expresses concern that reduced Fed transparency could lead to greater market anxiety and volatility. Despite this, he views the bond market as having already repriced, offering attractive yields, and considers corporate credit stable, making it an 'inviting place to invest'.