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The market has seen its fair share of surprises in recent years, and the first half of 2023 was no different. From the collapse of Silicon Valley Bank to OPEC cuts, investors had plenty of unexpected developments to digest, with varying degrees of market impact. We asked a few of our investors to share the surprises that changed their outlook or their view of the opportunity set. Here’s what they had to say:
Municipal Curve Inversion Creates Potential “Double-Decker” Opportunity
Municipal Bond Portfolio Manager Dawn Mangerson discusses how the first-ever inversion of the municipal yield curve has contributed to a favorable view of the long end of the curve.
Positive Surprises in Brazil Underline Structural Improvements
In Brazil, Senior Analyst Ji Zhang sees potential opportunity in resilient businesses against a backdrop of falling inflation and possible central bank easing.
Stronger-Than-Expected Labor Market Could Point to a More Resilient Economy
The pace of job gains so far this year has exceeded expectations. Associate Portfolio Manager Michael Gladchun discusses what this trend may mean for the cycle.
Broad Resilience Among EM Economies Can Contribute to a Constructive Outlook
Investment Strategist Jackie Lafferty currently sees potential opportunity in emerging market debt thanks in part to a resilient growth backdrop.
In the Loan Market, A Shift Toward Secured Bond Issuance Has Started
Bank Loan Portfolio Manager Heather Young explains the potential drivers behind the increase secured bond issuance in the loan market.
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This blog post is provided for informational purposes only and should not be construed as investment advice. Any opinions or forecasts contained herein reflect the subjective judgments and assumptions of the authors only and do not necessarily reflect the views of Loomis, Sayles & Company, L.P. Information, including that obtained from outside sources, is believed to be correct, but Loomis Sayles cannot guarantee its accuracy. This material cannot be copied, reproduced or redistributed without authorization. This information is subject to change at any time without notice. Market conditions are extremely fluid and change frequently.
