Mr. Chan is Head of Portfolio Construction within Fixed Income. In addition, he is a portfolio manager of Putnam Diversified Income Trust, Putnam Fixed Income Absolute Return Fund, Putnam Global Income Trust, Putnam Master Intermediate Income Trust, Putnam Premier Income Trust, and Putnam Short Duration Bond Fund. Mr. Chan has been in the investment industry since he joined Putnam in 2002.
Mr. Chan is responsible for Putnam's term structure strategies, including interest-rate and FX trading implementation, as well as quantitative modeling. He leads the team's efforts in researching market and macroeconomic data, building quantitative models, recommending broad positioning and portfolio construction ideas, and overseeing and monitoring portfolio implementation. Previously at Putnam, Mr. Chan served on the Investment-Grade Corporate, Global Term Structure, and High-Yield Corporate teams, including as an Analyst and a Portfolio Construction Specialist.
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.