Tony Rodriguez, head of fixed income strategy at Nuveen, expects the Federal Reserve to make two interest-rate cuts this year — he calls them "recalibration cuts," made to stabilize the economy but not in response to a hard landing — which will boost floating-rate assets like leveraged loans, collateralized loan obligations and more. Speaking at FutureProof Citywide in Miami Beach, Rodriguez said the Treasury market is over-valued right now, but that the municipal bond market is the most attractive of long-duration assets, which are particularly good looking considering closed-end fud discounts in the muni space.