As uncertainty around U.S. trade policy continues to shape the landscape for risk assets, a complex picture emerges for investment grade credit in 2025—but what does the future hold?

Highlights from the week of July 11 – July 17, 2025.

As investors wait for additional clarity on trade and fiscal policy, we offer six themes we think will drive fixed income markets in the second half of the year.

The economy’s impressive resilience has helped markets shake off fiscal and geopolitical uncertainties. But while it’s business as usual for some sectors, others are facing a panoply of new challenges, compounded by the accelerating AI revolution. Our experts take a look at how to play this complex new landscape.

Get the latest insights from our securitized credit desk.

Markets are holding steady despite mounting uncertainty, as investors, the Fed, and corporate America wait for clarity on fiscal policy and the direction of the economy.

As glide path triggers push overfunded plans into fixed income, many sponsors are diversifying beyond investment grade corporate bonds to better manage risk and volatility. Here’s why it helps.

We are closely monitoring developments, but our base case is a minimal economic impact, especially with the Fed able to support growth with rate cuts.

Even as markets cheer easing trade tensions, the effects of tariff uncertainty may still show up in economic data—and bring renewed volatility with them.

Liability management exercises may offer a quick fix for financially distressed companies, but they can sometimes make bad situations worse, underscoring the importance of rigorous credit research and security selection.