Allspring's Noah Wise advises investors to focus on short-term Treasurys and emerging markets

Bond market investors may want to shift their focus toward the front of the yield curve, according to Allspring Global Investments' Noah Wise.

Wise, the firm's head of global macro strategy and a senior portfolio manager, sees the strategy as part of a diversified portfolio to deliver profits due to the monetary policy backdrop.

"You see a market that's pricing in a couple of hikes for the Fed here over the next couple of years," he told CNBC's "ETF Edge" this week ahead of Wednesday's Fed decision on interest rates. "That type of yield north of 4% with relatively low risk is, in our view, pretty attractive."

Allspring primarily focuses on fixed income, money markets and stocks. According to the firm's website, clients range from consultants and financial advisors to corporations and financial institutions.

Wise also sees opportunity in the U.S. credit market, citing strong macro fundamentals.

"We like [U.S.] credit, whether that's investment grade or high yield, more than we like European credit at this time," he said.

But credit is not the only avenue to diversification. Wise is also seeing opportunities in emerging markets, and he's heading south.

"Particularly in Latin America, you can find yields that are at [double digits] so there's a lot of opportunities," he said. "I think even with the challenges and risks that we see geopolitically, you can still generate pretty attractive yield and income in a really diversified manner."

In a special note to CNBC, Wise wrote that this week's Fed decision to leave rates unchanged has not changed his investment strategy.

"Opportunity always lurks where uncertainty is found. The market [moving] in short-term Treasury yields between these two Fed meetings is a good example of this, and our strategies have been tactically adjusting our exposure to this part of the curve in an effort to take advantage of that volatility," he wrote.