Group 1 - The core viewpoint is that the U.S. labor market is expected to stabilize rather than deteriorate sharply, allowing for a defensive stance in bond investments, particularly favoring U.S. Treasuries, high-quality corporate bonds with maturities of no more than five years, and Agency MBS [1] - The U.S. economy is projected to experience a "soft landing," with slowing growth and easing inflation pressures, while the Federal Reserve's dual mandate remains to promote full employment and stabilize prices [1] - In Europe, there are differing economic outlooks among countries, leading to a more favorable view on European corporate bonds, although careful selection of opportunities is emphasized [1] Group 2 - Given the current unattractive yields on sovereign bonds, the fund primarily invests in high-quality global corporate bonds, maintaining an average credit quality of BBB+ as of September 30, 2025 [2] - The fund also considers emerging market bonds due to less hawkish monetary policies, which can enhance bond portfolio yields and provide a more diversified and flexible asset allocation [2]
施罗德投资：债券投资取态可转向防守性 看好短年期高质企业债及机构按揭抵押证券
Zhi Tong Cai Jing·2025-10-28 06:49