In a market shaped by tariff-induced volatility, tight credit spreads, and shifting policy signals, PGIM’s Michael Collins offers a timely perspective on what lies ahead for bond investors. Despite persistent uncertainty, economic fundamentals remain resilient, and fixed income continues to present compelling opportunities—especially for those focused on carry, credit quality, and tactical positioning.
The backdrop remains defined by broad market resilience and tight credit spreads amid persistent policy uncertainty. While headlines have focused on risk—especially around central bank decisions and tariff negotiations—actual economic activity has held up remarkably well. Institutional investors have been rebalancing into fixed income, drawn by attractive valuations and defensive characteristics. Fixed income remains cheap relative to equities and cash.
Read on to explore key bond market themes, market outlook, and portfolio strategies from PGIM’s fixed income expert.
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