Highlights from the week of July 17 – July 23, 2026.

New Fed Chair Kevin Warsh appears ready to give markets fewer signals. That may give the Fed more flexibility, but it also gives every data point more power to move markets.

Elevated coupon income should continue to support senior loan returns in the second half of 2026, but tighter valuations and rising sector dispersion reinforce the importance of active credit selection.

The back half of 2026 may hinge on six themes: AI spending, uneven growth, labor supply, sticky inflation, uneasy central banks, and volatile bond markets.

Government-backed mortgage bonds have outperformed during some of the market’s worst quarters. Here’s how they work and what their track record has historically meant for investors seeking diversification.

Get the latest insights from our securitized credit desk.

As companies look to bond markets to fund AI investment, the credit impact is showing up in more selective ways, creating opportunities for active investors.

Having trouble remembering the difference between a CDR and a CRT? We’re here to help.

Markets are being tested on several fronts at once. But the important question is how these shocks travel—through inflation, monetary policy, funding conditions, or issuer fundamentals. That’s where resilience begins to diverge.

Securitized credit is a popular, if complex, fixed income allocation. Here’s where to begin.