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JAG Fixed Income Thematic Insights: Q4 2025

December 2025 – Spread Thin? Why Credit Still Deserves a Place in Portfolios

Summary

In last quarter’s Insight, we examined the relationship between yield levels and forward return outcomes, illustrating how higher absolute yields improve the odds of favorable results over time. This quarter, we turn to a related but more nuanced factor: credit spreads. Our analysis focuses on the Bloomberg US Intermediate Corporate Index.

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This document contains investment performance information and is intended solely for Institutional Investors and Financial Intermediaries.

By clicking "Accept" below, you confirm that you are:

  • An Institutional Investor (as defined by applicable securities laws), or
  • A Financial Intermediary accessing this information in the course of your professional duties.

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Important Notice

This document contains investment performance information and is intended solely for Institutional Investors and Financial Intermediaries.

By clicking "Accept" below, you confirm that you are:

  • An Institutional Investor (as defined by applicable securities laws), or
  • A Financial Intermediary accessing this information in the course of your professional duties.

This material is not intended for retail investors and should not be distributed or relied upon by any person other than the intended audience. Performance data presented may be based on past results, which do not guarantee future performance.

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