50 years of investing in fixed income


When T. Rowe Price founded its fixed income division in 1971, the world was a very different place. The term “emerging markets” had not yet been coined, the first junk bond boom was a decade away, and for most investors the only tools in the fixed income toolkit were domestic government bonds. In the five decades that followed, our bond expertise evolved as fast as the markets did.

Over the years, we have navigated multiple market crises and followed new asset classes as they grew from infancy. When we talk about T. Rowe Price’s “deep expertise”, we’re referring to that institutional memory, and the sound judgment born of long experience. Join our investment professionals as they reflect on their own careers, the evolution of their asset classes – and lessons for the future.


Everything we've learned goes into your portfolio

How do you measure 50 years?

The milestones of our fixed income journey – watch the video


Take a trip to 1975

Our first fixed income brochure

The world in 1971

As we were setting up our first fixed income team in Baltimore (comprising two people), the world was a rapidly changing place and far reaching events were underway, including... 

  • Apollo 14 Moon landing
  • US May Day Protests against Vietnam war
  • Suspension of Gold Standard
  • Nasdaq opened
  • China admitted to United Nations
  • Start of North Sea oil production in Norway
  • First single-chip microprocessor introduced by Intel

Looking back, looking forward

Reflections from our investment professionals.

Experience in action

Investment strategies that have stood the test of time

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If you have questions or would like more information about T. Rowe Price please contact us. 

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