Highlights from the week of September 26 – October 2, 2025.

Despite the shutdown, markets were more focused on labor and the probability of more rate cuts.

Economic data and Fed commentary have tempered investor expectations for two additional rate cuts this year.

U.S. equities rose and bonds fell as the Fed cut rates.

A strong finish to 2Q25 earnings and higher odds of a rate cut pushed markets higher this week.

Get the latest insights from our securitized credit desk.

High starting yields should continue to provide a buffer against potential turmoil, and episodic bouts of volatility should present attractive opportunities.

Securitized markets still offer attractive relative value. Here’s where to find it.

As uncertainty around U.S. trade policy continues to shape the landscape for risk assets, a complex picture emerges for investment grade credit in 2025—but what does the future hold?

After a volatile start to the year, we see opportunities as markets focus on President Trump’s deregulatory agenda, tech’s unrelenting rise, and Europe’s defense surge.