The US economy is still defying the odds by growing at potential, notwithstanding higher interest rates. Consumer spending has been supported by a strong labour market. Also, household wealth gained from rising house prices and a buoyant equity market, due to the AI boom.

The COVID-19 pandemic profoundly reshaped the global economy, triggering a long-unseen surge in inflation through disrupted supply chains and unprecedented fiscal and monetary policy interventions. Despite inflation peaking at 10.6% in Europe and 9.1% in the US in 2022, market expectations of inflation over the medium- and long-term have remained stable since the start of COVID. This suggests that markets were confident inflation would return to normal levels quickly.

DPAM has a long history of successfully managing fixed maturity funds. With the launch of DPAM L Bonds EUR Impact Corporate 2028, we have decided to broaden our expertise adding an impact framework to our traditional offering.