ClearBridge Global Infrastructure Income Strategy Q4 2023 Portfolio Manager Commentary

News Snapshot:

tdub303 By Daniel Chu, CFA, Charles Hamieh, Shane Hurst, & Nick Langley Rate Pressures Ease for Renewables, Communications Market Overview Infrastructure and equity markets rallied into the end of the year, driven by a precipitous decline in interest rates as sustained disinflationary trends created an expectation that not only is the Fed finished raising rates, but rate cuts would also begin sooner and be more numerous than previously expected. The proverbial punch bowl was spiked as October inflation data came in lower than expected in November, then again following the December Fed meeting where Chairman Powell’s dovish press conference added...