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Fixed Income Insights

Markets are at a crossroads. Read our insights to find your balance.

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Monthly Fixed Income Credit Sector Views

June 2022 / U.S. FIXED INCOME

Interest Rate Volatility Creates Value in RMBS

Interest Rate Volatility Creates Value in RMBS

Interest Rate Volatility Creates Value in...

Strong housing supports mortgage-backed bonds with credit risk.

By Ramon de Castro & Dennis Lee

By Ramon de Castro & Dennis Lee

June 2022 / VIDEO

What lies ahead for emerging markets?

What lies ahead for emerging markets?

What lies ahead for emerging markets?

By Christopher J. Kushlis

Christopher J. Kushlis Chief of China and Emerging Markets Macro Strategy

June 2022 / FIXED INCOME

Why We Have Become More Favorable on Duration

Why We Have Become More Favorable on Duration

Why We Have Become More Favorable on Duration

Key indicators suggest that yields have peaked.

By Andrew McCormick & Stephen L. Bartolini

By Andrew McCormick & Stephen L. Bartolini

April 2022 / SEARCH FOR YIELD

Balancing Yield With Portfolio Stability

Balancing Yield With Portfolio Stability

Balancing Yield With Portfolio Stability

Understanding an asset’s growth and defensive qualities is key.

By Michael Walsh

Michael Walsh Multi‑Asset Solutions Strategist

April 2022 / FIXED INCOME

Why It’s Not Yet Time to Add Credit Risk

Why It’s Not Yet Time to Add Credit Risk

Why It’s Not Yet Time to Add Credit Risk

Despite cheaper valuations, a rally does not seem imminent.

By Kenneth A. Orchard

Kenneth A. Orchard Portfolio Manager

March 2022 / FIXED INCOME

Meet Matthew Lawton

Meet Matthew Lawton

Meet Matthew Lawton

Portfolio Manager, Global Impact Credit Strategy

By Matthew Lawton

Matthew Lawton Portfolio Manager, Global Impact Credit Strategy

March 2022 / BLOG

Long Dated Credit Can Boost Returns in a Tightening Environment

Long Dated Credit Can Boost Returns in a Tightening Environment

Long Dated Credit Can Boost Returns in a...

Shorter‑dated bonds are typically hit harder by rising inflation and low growth.

By Kenneth A. Orchard & Onur Uncu

By Kenneth A. Orchard & Onur Uncu

March 2022 / INVESTMENT INSIGHTS

A Determined Federal Reserve Prepares for Tightening Cycle

A Determined Federal Reserve Prepares for Tightening Cycle

A Determined Federal Reserve Prepares for...

We anticipate continued Treasury yield curve flattening.

By Stephen L. Bartolini & Steve Boothe

By Stephen L. Bartolini & Steve Boothe

February 2022 / GLOBAL FIXED INCOME

Strategic Allocation to Bank Loans May Enhance Value

Strategic Allocation to Bank Loans May Enhance Value

Strategic Allocation to Bank Loans May Enhance...

The asset class offers a low duration profile, attractive yields.

By Paul Massaro & Stephen M. Finamore

By Paul Massaro & Stephen M. Finamore

February 2022 / GLOBAL FIXED INCOME

Shoulda, Woulda, Coulda

Shoulda, Woulda, Coulda

Shoulda, Woulda, Coulda

Adventures in global high yield.

By Mark J. Vaselkiv

Mark J. Vaselkiv Chief Investment Officer, Fixed Income

February 2022 / VIDEO

Video Series – Fixed Income 2022: Nowhere to Hide?

Video Series – Fixed Income 2022: Nowhere to Hide?

Video Series – Fixed Income 2022: Nowhere...

By Arif Husain

Arif Husain Head of International Fixed Income and CIO

January 2022 / VIDEO

Strong Fundamentals, Demand Drive Investment-Grade Corporates

Strong Fundamentals, Demand Drive Investment-Grade Corporates

Strong Fundamentals, Demand Drive Investment-Grade...

By Lauren T. Wagandt

Lauren T. Wagandt Portfolio Manager

January 2022 / U.S. FIXED INCOME

Digging Deep in Securitized Credit as Supply Booms

Digging Deep in Securitized Credit as Supply Booms

Digging Deep in Securitized Credit as Supply...

Our analysts are finding value in data centers, aircraft ABS.

By Ramon de Castro & David Xu

By Ramon de Castro & David Xu

January 2022 / U.S. FIXED INCOME

Finding Opportunities Amid Fixed Income Turbulence

Finding Opportunities Amid Fixed Income Turbulence

Finding Opportunities Amid Fixed Income Turbulence

Flexible multi-sector approach is essential as markets shift.

By Christopher P. Brown & Anna Dreyer

By Christopher P. Brown & Anna Dreyer

January 2022 / BLOG

EM Currencies Can Boost Bond Portfolios Amid Rising Inflation

EM Currencies Can Boost Bond Portfolios Amid Rising Inflation

EM Currencies Can Boost Bond Portfolios Amid...

Currencies of commodity-exporting countries are particularly attractive.

By Kenneth A. Orchard & Onur Uncu

By Kenneth A. Orchard & Onur Uncu

December 2021 / GLOBAL FIXED INCOME

Why Impact Investing Needs Public Debt Markets

Why Impact Investing Needs Public Debt Markets

Why Impact Investing Needs Public Debt Markets

Their size and diversified nature can foster long‑term change.

By Matthew Lawton

Matthew Lawton Portfolio Manager

December 2021 / VIDEO

Portfolio Construction: How to Find Yield and Avoid Undue Risks

Portfolio Construction: How to Find Yield and Avoid Undue Risks

Portfolio Construction: How to Find Yield...

By Samy Muaddi

Samy Muaddi Portfolio Manager

November 2021 / VIDEO

Redefining Fixed Income Enhancing High Yield Allocations: Video Series

Redefining Fixed Income Enhancing High Yield Allocations: Video Series

Redefining Fixed Income Enhancing High Yield...

By Kevin Loome

Kevin Loome Portfolio Manager

November 2021 / VIDEO

Building Fixed Income Portfolios for the Recovery – And Beyond: Video...

Building Fixed Income Portfolios for the Recovery – And Beyond: Video Series

Building Fixed Income Portfolios for the...

By Mark J. Vaselkiv, Christopher P. Brown & Anna Dreyer

By Mark J. Vaselkiv, Christopher P. Brown & Anna Dreyer

November 2021 / U.S. FIXED INCOME

Higher Long-Run Inflation Outlook Makes TIPS Exposure Key

Higher Long-Run Inflation Outlook Makes TIPS Exposure Key

Higher Long-Run Inflation Outlook Makes TIPS...

Price rises to slow, but inflation likely to stay relatively high.

By Mike Sewell & Elliot Shue

By Mike Sewell & Elliot Shue

October 2021 / U.S. FIXED INCOME

The Fed Surreptitiously Turns Dovish

The Fed Surreptitiously Turns Dovish

The Fed Surreptitiously Turns Dovish

SEP reveals a renewed commitment to average inflation targeting.

By Stephen L. Bartolini & Steve Boothe

By Stephen L. Bartolini & Steve Boothe

October 2021 / U.S. FIXED INCOME

High Valuations Balance Healthy Credit in Global High Yield

High Valuations Balance Healthy Credit in Global High Yield

High Valuations Balance Healthy Credit in...

Credit analysis can expose value even amid tight credit spreads.

By Michael Connelly

Michael Connelly Portfolio Manager

September 2021 / POLICY INSIGHTS

Confronting the Challenges of Persistent Transitory Inflation

Confronting the Challenges of Persistent Transitory Inflation

Confronting the Challenges of Persistent...

How to position against potential inflation risks in fixed income.

By Multiple Authors

By Multiple Authors

August 2021 / FIXED INCOME

How Digital Currencies Add Policy Potency for Emerging Markets

How Digital Currencies Add Policy Potency for Emerging Markets

How Digital Currencies Add Policy Potency...

More monetary policy control as rate decisions have a broader impact.

By Tomasz Wieladek & Aadish Kumar

By Tomasz Wieladek & Aadish Kumar

For More Powerful Insights

June 2022 / GLOBAL FIXED INCOME

Fixed Income—New Dynamics Demand Fresh Thinking

Fixed Income—New Dynamics Demand Fresh Thinking

Fixed Income—New Dynamics Demand Fresh Thinking

How changing markets require investors to think and act differently.

By Arif Husain

Arif Husain Head of International Fixed Income and CIO

June 2022 / FIXED INCOME

Evaluating ESG Bonds—What's Behind the Label

Evaluating ESG Bonds—What's Behind the Label

Evaluating ESG Bonds—What's Behind the Label

Greenwashing risks underpin importance of assessing an ESG bond’s credentials.

By Matthew Lawton

Matthew Lawton Portfolio Manager

June 2022 / FIXED INCOME

Analyzing the Case for Asia Credit Bonds

Analyzing the Case for Asia Credit Bonds

Analyzing the Case for Asia Credit Bonds

An attractive combination of risk and return.

By Sheldon Chan

Sheldon Chan Portfolio Manager

May 2022 / GLOBAL FIXED INCOME

Global Impact Credit Strategy: Impact Statement

Global Impact Credit Strategy: Impact Statement

Global Impact Credit Strategy: Impact Statement

April 2022 / VIDEO

Video Series: Evaluating Impact Opportunities in Public Fixed Income...

Video Series: Evaluating Impact Opportunities in Public Fixed Income Markets

Video Series: Evaluating Impact Opportunities...

By Matthew Lawton

Matthew Lawton Portfolio Manager

April 2022 / U.S. FIXED INCOME

Agency Mortgage Market in Transition

Agency Mortgage Market in Transition

Agency Mortgage Market in Transition

MBS valuations are renormalizing as the Fed steps aside.

By Keir Joyce

Keir Joyce Portfolio Manager

April 2022 / FIXED INCOME

High Yield Bonds Could Prove Resilient as Inflation Surges

High Yield Bonds Could Prove Resilient as Inflation Surges

High Yield Bonds Could Prove Resilient as...

Shorter durations, higher yields could provide a buffer as rates rise.

By Kevin Loome & Ashley Wiersma

By Kevin Loome & Ashley Wiersma

March 2022 / MARKET EVENTS

Investing Globally May Boost Yields as Rates Rise

Investing Globally May Boost Yields as Rates Rise

Investing Globally May Boost Yields as Rates...

Home bias could mean key opportunities are missed.

By Michael Walsh

Michael Walsh Solutions Strategist

March 2022 / FIXED INCOME

The Case for a Tactical and Strategic Allocation to Bank Loans

The Case for a Tactical and Strategic Allocation to Bank Loans

The Case for a Tactical and Strategic Allocation...

Insights Webinar Summary

By Andrew McCormick & Paul Massaro

By Andrew McCormick & Paul Massaro

February 2022 / FIXED INCOME

Five Reasons Why I’m Reducing Credit Risk

Five Reasons Why I’m Reducing Credit Risk

Five Reasons Why I’m Reducing Credit Risk

Tight spreads and hawkish central banks are a concern.

By Kenneth A. Orchard

Kenneth A. Orchard Portfolio Manager

February 2022 / GLOBAL FIXED INCOME

Fixed Income 2022: Nowhere to Hide?

Fixed Income 2022: Nowhere to Hide?

Fixed Income 2022: Nowhere to Hide?

A fresh approach to fixed income investing in a year that could be potentially dominated...

By Arif Husain

Arif Husain Head of International Fixed Income and CIO

February 2022 / GLOBAL FIXED INCOME

Helping Global Bond Investors When Duration Fails

Helping Global Bond Investors When Duration Fails

Helping Global Bond Investors When Duration...

Strategies to reduce potential duration-led losses.

By Joran Laird

Joran Laird Portfolio Specialist

January 2022 / GLOBAL FIXED INCOME

Why Fixed Income Investors Should Think Differently in 2022

Why Fixed Income Investors Should Think Differently in 2022

Why Fixed Income Investors Should Think Differentl...

Higher rates and more volatility demand a flexible approach.

By Arif Husain

Arif Husain Head of International Fixed Income and CIO

January 2022 / GLOBAL FIXED INCOME

Unlocking Impact Outside of ESG-Labeled Debt

Unlocking Impact Outside of ESG-Labeled Debt

Unlocking Impact Outside of ESG-Labeled Debt

Driving real change means investors should look beyond the label.

By Matthew Lawton

Matthew Lawton Portfolio Manager

January 2022 / U.S. FIXED INCOME

Rethinking Fixed Income Allocations

Rethinking Fixed Income Allocations

Rethinking Fixed Income Allocations

Sourcing strategies with varying risk and return drivers is key.

By Saurabh Sud, Lowell Yura & Gregor T. Dannacher

By Saurabh Sud, Lowell Yura & Gregor T. Dannacher

December 2021 / ECONOMICS

The Great Inflation Debate

The Great Inflation Debate

The Great Inflation Debate

Have we entered a new era?

By Justin Thomson

Justin Thomson Head of International Equity and CIO

December 2021 / VIDEO

Inflation: I'm Fed Up and other Macro Themes

Inflation: I'm Fed Up and other Macro Themes

Inflation: I'm Fed Up and other Macro Themes

By Steve Boothe

Steve Boothe Head of Investment Grade

November 2021 / POLICY INSIGHTS

The Bond Market Has Woken Up From a Deep Slumber

The Bond Market Has Woken Up From a Deep Slumber

The Bond Market Has Woken Up From a Deep...

Heightened volatility reflects a changed reality.

By Multiple Authors

By Multiple Authors

November 2021 / POLICY INSIGHTS

Central Banks Diverge in Response to Inflation

Central Banks Diverge in Response to Inflation

Central Banks Diverge in Response to Inflation

How differences are creating opportunities in fixed income.

By Multiple Authors

By Multiple Authors

November 2021 / FIXED INCOME

Fed Talk: Views and Implications for Fixed Income Portfolios

Fed Talk: Views and Implications for Fixed Income Portfolios

Fed Talk: Views and Implications for Fixed...

Insights Webinar Summary

By Steve Boothe, Christopher P. Brown & Stephen L. Bartolini

By Steve Boothe, Christopher P. Brown & Stephen L. Bartolini

November 2021 / BLOG

Rising Yields Present a Familiar Challenge in a New Era

Rising Yields Present a Familiar Challenge in a New Era

Rising Yields Present a Familiar Challenge...

Inflation concerns are highest in decades.

By Kenneth A. Orchard & Onur Uncu

By Kenneth A. Orchard & Onur Uncu

October 2021 / VIDEO

Inflation, Central Bank Policy, and the Implications for Emerging Markets

Inflation, Central Bank Policy, and the Implications for Emerging Markets

Inflation, Central Bank Policy, and the Implicatio...

Find out why emerging market central banks are bucking the trend in terms of monetary...

By Benjamin Robins, Michael Ganske & Charles Knudsen

By Benjamin Robins, Michael Ganske & Charles Knudsen

September 2021 / FIXED INCOME

Regulatory Actions in China: Short-Term Pain, Long-Term Gain

Regulatory Actions in China: Short-Term Pain, Long-Term Gain

Regulatory Actions in China: Short-Term Pain,...

Beijing’s tightening grip bodes well for China Inc.'s health.

By Sheldon Chan, Christopher J. Kushlis & Lee Sun

By Sheldon Chan, Christopher J. Kushlis & Lee Sun

September 2021 / U.S. FIXED INCOME

Navigating Dynamic Fixed Income Market Crosscurrents

Navigating Dynamic Fixed Income Market Crosscurrents

Navigating Dynamic Fixed Income Market Crosscurren...

Flexible duration positioning and sector allocation are key.

By Christopher P. Brown & Anna Dreyer

By Christopher P. Brown & Anna Dreyer

August 2021 / FIXED INCOME

Blending Quant and Fundamental Portfolio Construction Inputs

Blending Quant and Fundamental Portfolio Construction Inputs

Blending Quant and Fundamental Portfolio...

The SSAG model provides a sector allocation framework.

By Christopher P. Brown, Anna Dreyer & Kenneth A. Orchard

By Christopher P. Brown, Anna Dreyer & Kenneth A. Orchard

Morningstar Awards 2020©. Morningstar, Inc. All Rights Reserved. Awarded to T. Rowe Price for 2020 U.S. Morningstar Exemplary Stewardship and to Jerome Clark for 2020 U.S. Morningstar Outstanding Portfolio Manager, U.S.A.