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Categories
A rigorous approach to rates
Ritchie Tuazon
Fixed Income Portfolio Manager
Margaret Steinbach
Fixed Income Investment Director

 


With the Federal Reserve and other central banks moving to tighten monetary policy, fixed income investors will need to be agile. Capital Group portfolio manager Ritchie Tuazon and investment director Margaret Steinbach detail how Capital Group’s U.S. interest rates team has developed a robust and repeatable process designed to add value through active interest rate management.  

Key takeaways:

  • The interest rates team uses fundamental research to construct a package of interest rate positions that is not beholden to just one macroeconomic outcome. 

  • Four pillars drive the team’s analysis: the economic outlook, the policy outlook, valuations and technical factors.

  • The team uses active duration, yield curve and inflation positioning to express a variety of views on each pillar. These positions can be either long-term and strategic, or more opportunistic in nature. 

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Ritchie Tuazon is a fixed income portfolio manager with 21 years of industry experience (as of 12/31/2021). He holds an MBA from MIT, a master's in public administration from Harvard and a bachelor's from the University of California, Berkeley.

Margaret Steinbach is a fixed income investment director at Capital Group. She has 15 years of investment industry experience (as of 12/31/2021). She holds a bachelor’s degree in commerce from the University of Virginia.

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