Brandywine Global Investment Management

Portfolio Manager & Senior Research Analyst Carol Lye speaks to Bloomberg News about opportunities in Indian bonds. She believes bond yields may fall given the country’s cyclical growth slowdown and the central bank’s easing cycle: https://bloom.bg/4hqHOuc

Is a softer US dollar ahead? Portfolio Manager & Senior Research Analyst Carol Lye discusses with Bloomberg News the outlook for the dollar amid a potential divergence in growth between the US, Europe, and China. Her interview begins at the 10:28 mark: https://bloom.bg/3Y9u0NM

In the last few weeks, markets have woken up to the downside risks to US growth from tariffs, evidenced by lower bond yields, dollar depreciation, and small-cap underperformance. However, according to Head of Global Macro Strategy Paul Mielczarski, markets do not appear to have fully priced in the extent to which the upheaval could be growth-negative: https://bit.ly/4iO0TIo

As the Bank of Japan addresses Japan’s inflation problem, the undervalued yen stands to benefit, says Portfolio Manager & Senior Research Analyst Carol Lye. And the safe-haven currency could see an added boost amid rising uncertainty in risk assets: https://bit.ly/43IRb54

To help the millions of birds that pass through Philadelphia during peak spring migration, Brandywine Global’s headquarters will dim its lights beginning April 1 through May 31, from midnight to 6am. Find out more: https://bit.ly/42GVzyT

Portfolio Manager Jack McIntyre speaks to CNA about the recent slide in the US stock market and whether uncertainty around tariffs will trigger more equity pain or lead to further economic slowing. Watch his interview beginning at the 16:12 mark: https://bit.ly/4iYtqdA

After the March FOMC meeting, Portfolio Manager Jack McIntyre tells Reuters that “the Fed showed more concern about weaker economic growth and higher inflation stemming from government policy uncertainty.” While he sees the decision to pause on rates as neither a “dovish or hawkish pause but an uncertain pause,” he believes the Fed is “aligned with the market in their view of where policy rates are headed.” https://reut.rs/4iD4J6Z

Portfolio Manager Jack McIntyre took note of the Federal Reserve’s recent use of the word uncertainty. “That term was peppered throughout both the FOMC statement and Powell’s press conference,” he tells InvestmentNews. “Therefore, it wasn’t a dovish or hawkish pause [on rates] but an uncertain pause. Rightfully so, the Fed has less conviction, but it is aligned with the market in their view of where policy rates are headed.” https://bit.ly/41RgL5u

What’s next for tariffs and the US economy? Portfolio Manager Jack McIntyre shares his concerns with CNA over the potential for wealth destruction from losses in highly owned large tech stocks, which could adversely impact consumers and exacerbate the economic slowdown. Listen to the full interview at the 16:12 mark: https://bit.ly/4iYtqdA

To help the millions of birds that pass through Philadelphia during peak spring migration, Brandywine Global’s headquarters will dim its lights beginning April 1 through May 31, from midnight to 6am. Find out more: https://bit.ly/42GVzyT