- Fixed Income Portfolio Manager, Credit
Sweden, Intermediary
ChangeThe views expressed are those of the author at the time of writing. Other teams may hold different views and make different investment decisions. The value of your investment may become worth more or less than at the time of original investment. While any third-party data used is considered reliable, its accuracy is not guaranteed. For professional, institutional, or accredited investors only.
In the first of a short video series, Fixed Income Portfolio Manager Connor Fitzgerald takes a look at what's current in credit. Given rather tight credit spread valuations, what is Connor's outlook for the next twelve months and where are the opportunities and risks now?
Credit spread valuations remain tight. While Connor still sees opportunity, especially within specific sectors and companies, he believes it makes sense to take less credit risk in this environment, focusing more on investment-grade credit rather than high yield.
Meanwhile, the economy is showing some signs of weakness, increasing the risk of a recession over the next twelve months, but, then again, could data continue to defy expectations?
In an environment of heightened geopolitical and political uncertainty, market volatility is likely. Investors could benefit, provided they are positioned to take advantage, and Connor will be paying particular attention to the trajectory of US deficit spending. Looking ahead, Connor also sees increased demand for power and the need to upgrade infrastructure as driving a potential structural growth story, which could create opportunities within the utilities and energy sectors.
Expert
Related Fund
Credit Total Return Fund
A long-only cash and bond fund seeking long-term total returns by investing primarily in US Dollar-denominated treasuries, corporate bonds and emerging markets issuers.
Stay up to date with the latest market insights and our point of view.
highlight_off
You've been subscribed
Thank you for subscribing. You can manage your subscription using the links provided in any of our subscription emails.
Read next
Showing
of
Insights Posts
Archived
info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Securitized credit: Normalizing, decelerating, or falling off a cliff?
Our experts offer their views on the current conditions and outlook for the securitized credit market.
Multiple authors
event
4
min
Article
2025-10-31
Archived
info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived
info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Rate relief: Fed cuts half point, but says “economy is strong”
Our expert explains the Fed's bold rate cut and some key takeaways for investors.
event
3
min
Article
2025-09-30
Archived
info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Fixed income
Macro and market
Asset allocation
Wealth Program
Credit
EM debt
Government bonds
High yield
Investment grade
Video
Archived
info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
A new economic era: three reasons to revisit bonds?
Investment Director Marco Giordano explains why he believes the new economic era is creating a wide range of opportunities for research-driven bond strategies to offer investors stable income combined with downside protection and diversification.
event
2
min
Video
2025-09-30
Archived
info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived
info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Diving into the new world of credit
Now that spreads have tightened, some investors think it's too late to invest in credit. But this assumption could be standing in the way of earning an attractive income.
event
5
min
Article
2025-09-30
Archived
info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Private debt
Fixed income
Volatility
Institutional Program
Credit
Alternatives
Private investing
Article
Archived
info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
CLO equity insights: Private credit
Explore how the convergence of public and private markets is impacting CLO equity, including the unexpected benefit it has driven in recent years.
event
5
min
Article
2025-08-31
Archived
info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Fixed income
Economic cycle
Monetary policy
Content CoE Program Global Program
Credit
USA
Inflation
Interest rates
Yielding insights
Article
Archived
info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Still waiting…Fed wants more data before cutting policy rates
Our expert dives into Fed policy following the July FMOC meeting.
event
3
min
Article
2024-10-31
Archived
info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Fixed income
Investment grade
Real estate
Institutional Program
Global Credit Plus
Opportunistic Fixed Income
Credit
Article
Economic cycle
Sustainability
Archived
info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Office to multifamily conversions: Implications for CMBS investors
Our experts explore the emerging trend in some US cities of converting office space into multi-family units and its implications for bond investors.
Multiple authors
event
5
min
Article
2025-07-31
Archived
info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived
info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Chart in Focus: Four key areas of opportunities in bonds amid Fed uncertainty
We discuss four key areas of opportunities in fixed income amid Fed uncertainty in the second half of the year.
event
3
min
Article
2025-07-31
Archived
info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Elections
Inflation
Interest rates
Institutional Program
Credit
Government bonds
Fixed income
Americas
Wellington on Washington and the World
Article
Archived
info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Are US election probabilities now a critical driver of bond yields?
Our expert argues that the US election remains a critical catalyst for the bond market given the contrast between both parties as it relates to supply side policies such as trade and immigration, and to policy differences around taxation and regulation.
event
3
min
Article
2024-11-30
Archived
info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived
info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Time for credit selection to shine
Fixed income investors continue to seek answers to an era of volatile rates. Large, static exposures to credit markets no longer cut it. Instead, a nimble and dynamic approach is more likely to create resilient and consistent total return outcomes.
event
5
min
Article
2025-07-31
Archived
info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Outlook
Fixed income
Geopolitical
Income
Global High Yield
Global Impact Bond
Euro High Yield
Global Credit Plus
Multi-Sector Credit
Opportunistic Fixed Income
Credit
EM debt
Government bonds
High yield
Investment grade
Archived
info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Bond Market Outlook
Our fixed income experts assess how to capitalize on market volatility with a flexible and dynamic approach that leverages diverse high-yielding opportunities and manages risks carefully.
Multiple authors
event
2025-06-30
Archived
info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
URL References
Related Insights
legal Information
Contact Us
© Copyright 2024 Wellington Management Europe GmbH. All rights reserved.
WELLINGTON MANAGEMENT FUNDS ® is a registered service mark of Wellington Group Holdings LLP.
Wellington Management Europe GmbH. Registered office: Bockenheimer Landstraße 43-47, 60325 Frankfurt am Main, Germany. T: +49-69-677761-500. VAT-number DE 326304943 (Umsatzsteuer-Identifikationsnummer) Commercial Register of the local court Frankfurt am Main (Handelsregister des Amtsgericht Frankfurt am Main), HRB 115460 .
Wellington Management Europe GmbH, is authorised and regulated by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht)
For professional investors and intermediaries only. This content is not suitable for a retail audience.
we’d love your feedback!
Help us improve our website. For every short survey taken, we give 2 to the Wellington Management UK Foundation to support educational charities helping economically disadvantaged children in EMEA.