Securitized Products

Our Portfolio Allocation Summary for January 2024.

Our US fixed income team’s key investment views for 2024.

Our Portfolio Allocation Summary for December 2023.

Our Portfolio Allocation Summary for November 2023.

The recent bear-steepening of the US Treasury curve has been driven by the combination of stronger-than-expected economic growth and stable Fed rate expectations. Historically, such periods do not last very long, and we see the current bear-steepening episode ending soon. We also highlight an opportunity in Agency MBS.

We present our Portfolio Allocation Summary for October 2023.

A discussion of today’s FOMC meeting and its investment implications.

Our Portfolio Allocation Summary for September 2023.

A global portfolio is likely to return only 5.3% a year over the next decade, compared to 6.7% in the past. Investors either need to lower their return expectations, or take more risk. Our total return methodology remains consistent with previous editions, with changes limited to the Alternatives section.