Category: Portfolio Strategy

Summary The demand for infrastructure investment is surging, driven by decades of underinvestment, evolving demographics, and the transformative secular forces of digitalization, deglobalization, and decarbonization. This rising need coincides with...

This Portfolio Management Outlook is excerpted from the Second Quarter 2026 Fixed-Income Sector Views.Despite geopolitical volatility and the evolving energy supply shock caused by the conflict in the Middle East, our...

The private debt asset class has grown in recent years as an increasing number of asset managers have launched dedicated commingled funds, founded business development companies, and raised separately managed...

This Portfolio Management Outlook is excerpted from the First Quarter 2026 Fixed-Income Sector Views. The economic backdrop for portfolio positioning is broadly supportive for fixed income, with solid growth and moderating...

Report Highlights In the long-running active vs. passive debate, the different characteristics and market structure for stocks and bonds help account for different performance outcomes. Unlike in equities, where passive...

This Portfolio Management Outlook is excerpted from the Fourth Quarter 2025 Fixed-Income Sector Views. Our baseline U.S. economic outlook projects real gross domestic product (GDP) growth to slow to 1.7 percent...

Summary Asset-Backed Finance (ABF) refers to the broad spectrum of lending instruments secured by contractual cashflows and related assets. ABF investing spans the debt and equity capital markets, with investment...

Summary Collateralized loan obligations (CLOs) are typically a high yielding, scalable, floating-rate investment alternative to corporate bonds with a history of stable credit performance. CLOs represent a $1.4 trillion asset...

This Portfolio Management Outlook is excerpted from the Third Quarter 2025 Fixed-Income Sector Views. The macro backdrop remains supportive for fixed income and credit. Our baseline U.S. economic outlook projects real...

Introduction The U.S. fixed-income market offers some of the best income opportunities in decades. Yet core fixed-income investors benchmarked to the Bloomberg U.S. Aggregate Index (Agg) are forgoing some of...

Trading in the U.S. Treasury market, which has been volatile since the “Liberation Day” tariff announcement on April 2, was jolted again when Moody’s cut the U.S. credit rating from...

This Portfolio Management Outlook is excerpted from the Second Quarter 2025 Fixed-Income Sector Views. As we move through 2025, the fixed-income landscape presents compelling opportunities despite market uncertainty. Yields remain historically...