Conservative Total Return

While understanding economic regimes and mastering fundamental portfolio construction techniques provide the foundation for successful fixed income investing, the most challenging and potentially rewarding aspects of bond portfolio management involve navigating market uncertainty, managing liquidity effectively, and positioning portfolios for regime transitions.

The beginning of the 4th quarter has proven to be challenging for markets as the government shut down continues to halt economic data releases.  Despite the shutdown, the Federal Reserve moved rates lower again in October, bringing the federal funds rate to 3.75%-4%. Interest rates moved only slightly as the move was mostly anticipated.   Risk markets continued to defy gravity, driven by euphoria in the AI space, and solid earnings from some of the “mega caps”.

Learn how reverse convertible structured notes combine bonds and equity options to deliver "coupons well into the double digits" while providing upfront price protection in volatile markets.

In our conversation with Kris Konrad from Piton Investment Management, we explore how this innovative approach is creating attractive risk-reward propositions for yield-hungry investors seeking alternatives to conventional high-yield investments.