Mr. Boucher is a Portfolio Manager in the Corporate and Tax-Exempt Credit group within Fixed Income. He is a Portfolio Manager of Putnam Fixed Income Absolute Return Fund, Putnam Floating Rate Income Fund, Putnam Global Income Trust, Putnam High Yield Fund, Putnam ESG High Yield ETF. Mr. Boucher is also responsible for covering cyclical sectors and portions of the non-cyclical market, including food/beverages and utilities.
Previously at Putnam, Mr. Boucher served as a Portfolio Manager in the U.S. High Yield group and as an Analyst covering the automotive, aerospace, and technology sectors. Mr. Boucher also has managed European high-yield portfolios and the allocation of global high-yield portfolios from Putnam’s London office. He joined Putnam in 1998 and has been in the investment industry since 1985.
More from the Fixed Income team
Fixed income markets experienced widespread declines in the U.S. and globally in the third quarter of 2022, as inflation remained high and became more broad-based.
In the coming months, the Fed will not likely pivot, but pause and wait with a high level of rates for convincing signs of disinflation.
Limited labor supply, higher wages, and a high staff turnover seems to have initiated a wage-price spiral.
Demographic shifts and labor imbalances might have disturbed consumption-saving decisions that impact inflation.