Robert Vanden Assem
CFA, Managing Director, Head of Investment Grade Fixed Income and Chairman of Fixed Income Asset Allocation Team
We continue to favor investment grade while underweighting securitized products, emerging markets (EM) debt, and non-US dollar currency. We remain neutral on high yield. The Organization of the Petroleum-Exporting Countries (OPEC) declined to restrain production at its recent meeting, suggesting the record oil surplus will persist. At $40, US crude oil futures dropped below financial crisis levels.
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