Highlights from the week of June 20 – June 26, 2025.

Markets are holding steady despite mounting uncertainty, as investors, the Fed, and corporate America wait for clarity on fiscal policy and the direction of the economy.

We are closely monitoring developments, but our base case is a minimal economic impact, especially with the Fed able to support growth with rate cuts.

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

Get the latest insights from our securitized credit desk.

Even as markets cheer easing trade tensions, the effects of tariff uncertainty may still show up in economic data—and bring renewed volatility with them.

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

The securitized credit market has evolved, through economic cycles and crises, into a popular fixed income allocation. However, its breadth, relative youth, and perceived complexities can be challenging for new investors, causing them to miss out on the asset class’s opportunities. Here’s what you need to know.

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?