Despite economic uncertainty, we see compelling value in high quality, liquid assets that we view as more resilient in the face of a potential recession.

We believe fixed income markets offer higher yields and better valuations than in years, and we’ve positioned the Income portfolio to further benefit amid potential for volatility and a weakening economy.

We believe fixed income markets now offer better value for active managers than they have in years.

The market contraction presents better opportunities than we’ve seen in years to generate income, which we balance against the need for resilience in the face of a potential recession.

Rising yields, wider spreads, and heightened market volatility are providing an attractive environment, but caution in credit selection is warranted.