Global markets in 2025 face policy uncertainty and macro volatility. Fixed income offers de-risking potential, while EM local currency debt benefits from US dollar pressure. Private credit faces challenges.
We believe our active fixed income approach is key to navigating today's challenging bond market and adding long-term value. Our fixed income investment process combines collective expertise, long-term discipline and risk management to capitalize on changing market dynamics.
The fixed income investment team works closely with the equity and quantitative teams, sharing information and debating ideas. We assess the opportunity set as it changes and position our funds’ holdings, for the long-term, which benefit from durable credit fundamentals and attractive valuations. We take on risk intentionally when we believe we are being compensated appropriately and reduce it when we don’t.
A periodic global fixed income note that discusses relevant topics across bond markets and the global macro environment
The Big Mac
10 min
The End of the Strong Dollar Cycle
September 22, 2025
Here we discuss the projected weakening of the US dollar due to macroeconomic factors, interest rate trends, and global diversification shifts. Highlights include both the short-term risks to the dollar and its long-term resilience as the primary reserve currency.
The Silent Engine of Equity Markets: Why Consumer Health Matters More Than Ever
July 29, 2025
The health of the consumer is arguably the single most important factor driving equity market performance in developed economies today. From retail giants like Walmart and Amazon to tech innovators like Apple and Tesla, consumer spending directly impacts corporate earnings, sector performance and overall market sentiment. For sophisticated investors, understanding the consumer’s role is essential — not just for identifying risks, but also for uncovering opportunities in an evolving economic landscape.
A Resilient Global Consumer Is a Support for Global Credit
June 26, 2025
The global consumer remains a key driver of economic resilience, alleviating concerns of a severe growth shock despite elevated policy uncertainty, ongoing trade conflicts, and rising fiscal deficits.
Fixed income market and asset class analysis, positioning, and other perspectives from across MFS
Fixed Income Insight
1 min
Navigating the Fixed Income Valuation Conundrum
October 22, 2025
Join MFS Co-CIO of Fixed Income Pilar Gómez-Bravo as she shares her approach to uncovering opportunities in the face of macro uncertainty and valuation challenges.
Dollar Weakness Creates an Opportune Moment for Emerging Markets Debt
October 3, 2025
In this EMD perspectives piece, we explore emerging market debt opportunities driven by a weaker U.S. dollar, improved fundamentals, and elevated yields, alongside key risks.
Here we discuss the projected weakening of the US dollar due to macroeconomic factors, interest rate trends, and global diversification shifts. Highlights include both the short-term risks to the dollar and its long-term resilience as the primary reserve currency.
A periodic global fixed income note that discusses relevant topics across bond markets and the global macro environment
The Big Mac
10 min
The End of the Strong Dollar Cycle
September 22, 2025
Here we discuss the projected weakening of the US dollar due to macroeconomic factors, interest rate trends, and global diversification shifts. Highlights include both the short-term risks to the dollar and its long-term resilience as the primary reserve currency.
The Silent Engine of Equity Markets: Why Consumer Health Matters More Than Ever
July 29, 2025
The health of the consumer is arguably the single most important factor driving equity market performance in developed economies today. From retail giants like Walmart and Amazon to tech innovators like Apple and Tesla, consumer spending directly impacts corporate earnings, sector performance and overall market sentiment. For sophisticated investors, understanding the consumer’s role is essential — not just for identifying risks, but also for uncovering opportunities in an evolving economic landscape.
A Resilient Global Consumer Is a Support for Global Credit
June 26, 2025
The global consumer remains a key driver of economic resilience, alleviating concerns of a severe growth shock despite elevated policy uncertainty, ongoing trade conflicts, and rising fiscal deficits.
Fixed income market and asset class analysis, positioning, and other perspectives from across MFS
Fixed Income Insight
1 min
Navigating the Fixed Income Valuation Conundrum
October 22, 2025
Join MFS Co-CIO of Fixed Income Pilar Gómez-Bravo as she shares her approach to uncovering opportunities in the face of macro uncertainty and valuation challenges.
Dollar Weakness Creates an Opportune Moment for Emerging Markets Debt
October 3, 2025
In this EMD perspectives piece, we explore emerging market debt opportunities driven by a weaker U.S. dollar, improved fundamentals, and elevated yields, alongside key risks.
Here we discuss the projected weakening of the US dollar due to macroeconomic factors, interest rate trends, and global diversification shifts. Highlights include both the short-term risks to the dollar and its long-term resilience as the primary reserve currency.