Securitized Products

Our Portfolio Allocation Summary for August 2023.

In this report, we present our performance review of the BCA Research Global Fixed Income Strategy (GFIS) model bond portfolio for the Q2/2023, and the outlook and scenario analysis for the next six months. The portfolio return exactly matched that of the benchmark index during the quarter, as modest gains on government bond allocations in the US, UK and core Europe completely offset losses on spread product underweights. Looking ahead, the portfolio is positioned to capitalize on an expected slowing of global growth over the rest of the year through an overweight stance on government bonds versus spread product and above-benchmark duration tilts in the US and core Europe.

This week we present our Portfolio Allocation Summary for July 2023.

This week we present our Portfolio Allocation Summary for June 2023.

This week we present our Portfolio Allocation Summary for May 2023.

This report looks at the relationship between rate risk and credit risk and how it has changed over time. It also makes the case for favoring agency MBS within an underweight allocation to US spread product.

This week we present our Portfolio Allocation Summary for April 2023.

This week we present our Portfolio Allocation Summary for March 2023.

This week we present our Portfolio Allocation Summary for February 2023.

This week we present our Portfolio Allocation Summary for January 2023.