Morgan Stanley Investment Management
1585 Broadway,
New York, NY 10036
Joel Cramer, CFA
Managing Director, Head of North American Insurance Solutions
joel.cramer@morganstanley.com
Office: 312 706 4216
Mobile: 630 222 6765
About Morgan Stanley
Morgan Stanley Investment Management’s Insurance Solutions team proudly supports our insurance clients with bespoke investment solutions and a comprehensive range of strategies that align well with insurers’ investment objectives and risk tolerances. We provide risk-based capital efficient solutions across public and private market strategies, and add value through thought leadership across insurance research, portfolio management, strategic asset allocation, reporting, risk management, and rating agency/regulatory considerations.
We’ll take your word for it
Developed market yields were slightly lower over the month, as the market seemingly took the Fed’s word that it is still on track for three rate cuts this year and that the terminal rate would remain around the 3.25% level.
All Not So Quiet on the Western Front
April was another challenging month for fixed income returns, following higher than expected growth and inflation data from the United States. These higher prints caused markets to push back expectations for rate cuts in the U.S. and reduce the magnitude of cuts between now and the end of 2025.