Highlights from the week of May 2– May 8, 2025.

GNMAs can be a compelling way to defend against unexpected market shocks, offering a risk profile similar to U.S. Treasuries but with higher yields.

U.S. economic growth is expected to slow this year, and the risk of a recession has certainly risen. While credit spreads have widened from historically tight levels, they are not flashing warning signs. Is this a buy-the-dip moment?

Following last week’s turbulent equity market and the surprising sell off in bonds, we gathered our thoughts on the markets and what we’re watching closely.

Get the latest insights from our securitized credit desk.

With U.S. high yield markets starting from solid ground, our approach to managing trade risk is to limit unnecessary exposure to affected industries.

The fluid tariff situation is paralyzing businesses, worrying consumers, and confusing investors. In periods of high uncertainty, we believe the best approach is to remain steady and reassess whether portfolio allocations align with investment goals. Here’s how our teams are managing the current environment.

The markets were caught off guard by the scope of the tariffs, rattling the markets at a time when consumer spending and confidence are already under pressure.

As policy uncertainty clouds the economic horizon, how much of this year’s market volatility is being driven by sentiment, and how much is declining fundamentals? Our experts take a look.

As stocks react to the chaotic tariff rollout and deteriorating confidence, bonds are quietly adjusting to a slower-growth outlook. It’s a direction we’ve prepared for in our fixed income portfolios.