Albert Chan, CFA
Head of Portfolio Construction
Mr. Chan is Head of Portfolio Construction within Fixed Income. He is responsible for Putnam's term structure strategies, including interest-rate and FX trading implementation, and quantitative modeling. Mr. Chan 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.
In addition, Mr. Chan is a portfolio manager of Putnam Core Bond Fund, Putnam Diversified Income Trust, Putnam Global Income Trust, Putnam Master Intermediate Income Trust, Putnam Premier Income Trust, Putnam Short Duration Bond Fund, and Putnam ESG Core Bond ETF. He has been in the investment industry since he joined Putnam in 2002.
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.
|Putnam ESG Core Bond ETF|
Closed End Funds
|Master Intermediate Income Trust|
|Premier Income Trust|
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.
The Fed walks a line between inflation and financial stability
Given the fragilities in financial markets, the Fed will likely move cautiously in monetary tightening to fight inflation.
Will interest rates go down?
Our base case for our strategy remains that a recession will wipe out excess savings, and the relatively low interest-rate environment will return.
Expect a pause, not a pivot, as savings fuel spending
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.