Investment Grade
US Treasuries typically outperform both equities and global government bonds during downturns. Recent political shifts could lessen that outperformance this cycle, but we doubt it will disappear completely.
Our Portfolio Allocation Summary for April 2025.
Corporate bond spreads are tight around the globe and do not adequately compensate for the risk of a deterioration in credit quality. We examine the global corporate credit landscape to identify which markets are best equipped to perform in the current environment.
An analysis of historical data shows that Ba-rated bonds outperform other corporate credit tiers in the long-run on a risk-adjusted basis. That said, today’s fragile macro environment warrants a more cautious allocation.
A falling stock market and sticky bond yields represent the worst of both worlds for investors. We interrogate why bond yields haven’t dropped more given the large selloff seen in equities.
Our Portfolio Allocation Summary for March 2025.
Our Portfolio Allocation Summary for January 2025.
Our Portfolio Allocation Summary for January 2025.