Payden & Rygel

After a decade of near-zero yields, fixed income is once again delivering meaningful income and diversification. Current yield levels provide a solid foundation for balanced portfolios.

As the Federal Reserve cuts rates, yields on money market funds are declining. For investors seeking safety, liquidity, and enhanced income, low duration bond strategies are a compelling solution, according to Kerry Rapanot, CFA.

Investors looking to diversify the fixed income portion of their portfolios are looking to the global bond market, including high-yield bonds. Payden & Rygel’s Timothy Crawmer and Frasat Shah share their views on how monetary policy and economic forces might affect the asset class.

The Unconstrained Bond Strategy and the Marathon which is 2025.
The first half of 2025 delivered a tougher course than the one charted in January. Policy uncertainty and surprises rather than macro drift set the tone, forcing investors to consider a wider range….

At mid-year, we reflect on our key 2025 macro views and reiterate our takes on growth, unemployment, inflation, risk, and rates. If tariff inflation does not appear this summer, the Fed will resume rate cuts. If the unemployment rate rises, even with inflation slightly above target, the Fed will resume rate cuts.

Timely insights presented in a question & answer format that challenges outdated perceptions of risk and highlights where investors may find value in today’s complex macro landscape. Structural opportunity; Positive outlook; Risk perceptions; Attractive valuations and Currency upside.

In mid-May Payden & Rygel’s Global Credit Strategist Timothy Crawmer, and US Rates Strategist Eric Stratmoen provided an overview of market conditions so far and their view of risks and opportunities in the bond markets.  Here’s what they said. 

The proposed U.S. tariff package—described as one of the most significant trade policy changes in over 50 years—could raise effective U.S. tariffs from roughly 2% to as high as 30%, a level not seen since the 1930s. That insight was shared during a recent global macro webinar held by the global asset management firm Payden & Rygel.