Bonds With Credit Risk May Outperform Government Debt

A combination of tariffs and German fiscal reform have led to a weaker outlook for sovereign debt and a stronger one for credit and some emerging markets.

2025 Midyear Market Outlook: Investing in a Post‑Globalization World

Perspectives on Securitized Credit - Q1 2025

Securitized credit markets posted relatively resilient performance in the first quarter of 2025, outperforming U.S. investment-grade corporates, high yield bonds, and bank loans on an excess return basis. Issuance across the four major securitized sectors moderated from late 2024’s heavy pace but remained healthy relative to historical averages.

Insurance Insights: May 2025

Shifting Momentum

The "Shifting Momentum" webinar hosted by T. Rowe Price's Multi-Asset Division focused on navigating the current uncertain policy environment and tactical asset allocation positioning.

Ahead of the Curve: Tariffs add to a toxic combination for U.S. Treasuries

Tariffs and fiscal expansion could drive U.S. Treasury yields higher. Inflation risks loom, but energy prices may offer some relief. Explore strategies for inflation protection.

Three Reasons to Consider T. Rowe Price Diversified Income Bond Strategy

Our Diversified Income Bond Strategy is an actively managed flexible “go‑anywhere” core bond strategy. We believe it offers three key benefits of attractive income potential, a truly global portfolio, and a controlled risk profile.

In The Loop: Tariffs Create Uneven Outcomes, But They Can Also Present Opportunities

Tariffs create uneven outcomes. Economically, more U.S. consumers and corporations are likely to be negatively impacted compared with the beneficiaries. However, policy changes present opportunities for active managers. In fixed income markets, we see advantages in a globally diversified approach.

Why Fixed Income is Attractive for Investors Moving Out of Cash

Uncertainty heightens the need for active fixed income management

Market Update: Shock and Awe

Navigating Through Global Market Turbulence

How Will a Rising 10-year Treasury Yield Impact Other Assets?

Ahead of the Curve: A Contrarian Scenario Comes True on Remarkable German Fiscal Push

Where can investors find defensive assets in today’s evolving markets?

What makes a defensive Asset?

SS&C's Day of Thought Leadership: Trends and Challenges in Reinsurance Investment - Insurer Insights for 2025

InsuranceAUM.com recently joined the Day of Thought Leadership event focusing on reinsurance investment trends and challenges.

Trump’s Tariffs: More Bite Than Bark?

From the Field: “Uneasy Equilibrium” Creates an Opportunity in Global Fixed Income

From Credit Risk to Rate Volatility: Navigating 2025’s Fixed Income Landscape

How high could the 10-year U.S Treasury yield go?

Global Asset Allocation Viewpoints

Perspectives on Securitized Credit Q4 2024

Ahead of the Curve: How U.S. immigration changes could impact inflation and the Fed

U.S. immigration policy changes could meaningfully reduce the labor force. This could have impactful economic consequences, such as renewed upward pressure on wages, which could push inflation higher. Resurgent inflation would, in turn, influence Federal Reserve decisions on interest rates.

Trump’s tariffs are a wild card for the global economy

The new U.S. administration’s planned tariffs will damage global trade, negatively impacting both the U.S. and its trading partners. A stronger dollar will likely create a demand shock, triggering a wave of central bank rate cuts and weakening equity markets. The countries most at risk include the manufacturing hubs of Asia and Eastern Europe and the U.S.’s close trading partners Canada and Mexico.

Looking for income in 2025? These bond solutions could help

In today’s uncertain markets, we believe that fixed income is attractive, as there’s an opportunity to generate potential income alongside other specific objectives. In this piece, we are delving into the characteristics of four different bond solutions and how they align to distinct investment goals.

Q1 Asset Allocation Viewpoints Webinar: Views From David Giroux on Market Shifts

Ahead of the Curve: Consensus is totally consensus—a contrarian’s strategic scenarios

A deeper look at flexible credit strategies and the critical role of manager selection

Ahead of the Curve - The calm before the storm: The outlook for Treasury yields

Episode 263: Navigating the Economic Landscape: Tariffs, Productivity, and the Future of US Growth

Join host Stewart Foley on the InsuranceAUM.com Podcast for expert insights into macroeconomic trends, including trade, fiscal policy, and the Fed's rate trajectory.

Q3 Perspectives on Securitized Credit

Although valuations for securitized credit sectors aren’t screaming cheap following solid year-to-date performance, fundamentals remain benign, and our research platform continues to see pockets of value. Yields also remain attractive for investors seeking income and diversification.

From The Field: Could a 5% 10-year Treasury yield be around the corner?

The 10-year U.S. Treasury yield could reach 5% due to fiscal stimulus in an election year, supply/demand dynamics from Fed quantitative tightening, and higher term premiums driven by inflation expectations.

From the Field: Cutting cycles and learning to love bonds again

With the Fed widely expected to cut rates in September, we looked at how different asset classes performed during past cutting cycles. Bonds consistently outperformed cash and stocks often outperformed bonds, but the evidence is less clear for small-cap versus large-cap and other trade-offs.

From the Field: AI and fixed income: Booming demand for data center ABS and CMBS

From the Field: How AI’s impact is reaching into areas that might surprise you

From the Field: Ahead of the Curve The San Andreas fault of finance shakes the markets

Bank of Japan tightening and its impact on the flow of global capital is far from simple, and it will have a large influence over the next few years. However, in the context of other mega-trends such as unsustainable fiscal expansion in some developed countries, volatility shouldn’t be a shock.

Q2 perspectives on securitized credit

Why passive flows and inelastic markets don’t mix

Investors should be wary of the heightened volatility and extreme price swings in bond markets due to the growing inelasticity of passive fixed income investing

Ahead of the Curve | "Shadow banking system" creates a trickier path for the Fed

The rapid increase in U.S. nonbank lending has caused banks to shift their risk exposure toward liquidity risk and away from credit risk. The effects of this shift could interact with the Federal Reserve’s quantitative tightening (QT) program, potentially forcing the central bank to end QT.

T. Rowe Price Fixed Income Credit Sector Views

How the U.S. election could impact the financials sector

Active investing is suited to the uncertain markets ahead

Financial regulators would likely be more proactive and involved under a Democratic president than in a Republican administration.

Q3 Asset Allocation Viewpoints WEBCAST

Global Asset Allocation Viewpoints - July 2024

Global Market Outlook Midyear update: How central bank policy could impact your portfolio

Credit investing for today’s evolving markets

Episode 215: Current Perspectives on Securitized Credit

Jean-Marc Breaux is the Sector Portfolio Manager, Fixed Income Division at T. Rowe Price.

What factors are driving U.S. exceptionalism, and will they last?

U.S. economic growth has outperformed other developed markets, leading to divergent monetary policy expectations. A slowdown in U.S. GDP and employment growth could lead to narrowing outperformance and congruent monetary policy paths. However, other factors support longer-term divergence.

Opportunities in fixed income for investors moving out of cash

With the path of cash rates uncertain, we think it is time for investors to consider redeploying into the market. But where? With bond yields near historic highs, we believe that fixed income is an attractive asset class to put cash to work—especially for investors seeking to lock in income.