U.S. Fixed Income

Focus on Shorter-Duration Credit Exposure

Christopher Brown, Jr., CFA, Portfolio Manager

Key Insights:

  • To implement relatively defensive positioning while still generating yield, we focus on areas with the potential to better withstand a resumption in volatility.
  • We favor allocations to shorter-duration bonds in some sectors with credit risk with structurally attractive risk/return profiles.
  • If the economy unexpectedly slides into recession, the short duration of our positions will limit exposure to credit risk.

Important Information

This material is provided for informational purposes only and is not intended to be investment advice or a recommendation to take any particular investment action.

The views contained herein are those of the authors as of May 2019 and are subject to change without notice; these views may differ from those of other T. Rowe Price associates.

This information is not intended to reflect a current or past recommendation, investment advice of any kind, or a solicitation of an offer to buy or sell any securities or investment services. The opinions and commentary provided do not take into account the investment objectives or financial situation of any particular investor or class of investor. Investors will need to consider their own circumstances before making an investment decision.

Information contained herein is based upon sources we consider to be reliable; we do not, however, guarantee its accuracy.

Past performance is not a reliable indicator of future performance. All investments are subject to market risk, including the possible loss of principal. All charts and tables are shown for illustrative purposes only.

T. Rowe Price Investment Services, Inc., Distributor.

© 2019 T. Rowe Price. All rights reserved. T. Rowe Price, INVEST WITH CONFIDENCE, and the Bighorn Sheep design are, collectively and/or apart, trademarks of T. Rowe Price Group, Inc.

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