How Post-Liberation Day Spreads Could Present Opportunity in Devalued Sectors

CMBS is actually a newer overweight where they're seeking to find loans backed by higher quality properties that are demonstrating a level of positive relative valuations to other securitized segments.

Going into this year, credit spreads were already pretty tight across multiple types of fixed income sectors to begin with. Now that spreads have widened a bit, there's a lot more opportunity in some of these more deep value sectors in the marketplace.