Securitized Credit Q1 2023 Outlook
First Quarter 2023 Outlook for Municipal Bonds provided by Edwin Wilches, CFA.
The underlying principles of securitized products are quite simple, and offer investors diversification relative to other fixed income sectors.
First Quarter 2023 Outlook for Municipal Bonds provided by Edwin Wilches, CFA.
With the recent announcement of a major student loan forgiveness program in the U.S., we dissect the program and its implications for fixed income investors.
After a challenging first half of 2022, we see reason for optimism ahead for a variety of sectors. Listen for our top active management, relative-value ideas.
An analysis into why we believe high-quality securitized products fit within the asset allocation options of an LDI portfolio.
Securitized products provide ample scope for some key elements of relative-value investing and offer varying degrees of credit risk throughout the capital structure.
* Gross assets under management includes the reinvestment of securities lending proceeds. Assets are based on company estimates, holdings are subject to change (rounded). Values may not sum due to rounding.
** ABS includes auto lease, auto loans, sub-prime auto, credit cards, and ‘other’. ‘Other’ includes consumer related (student loans, RV, timeshare, wireless, unsecured consumer loans), commercial related (equipment, flees, floor plan, small business, SBA), corporate (rental car and railcars), structured settlement and International ABS.
Source: PGIM Fixed Income. Assets as of December 31, 2022. Staffing as of September 30, 2022.