Weitz Investment Management

In today’s fixed income landscape, select opportunities can emerge quickly—and disappear just as fast. In this clip from our recent Fixed Income Webinar, Tom Carney, CFA, Co-Head of Fixed Income, explains how the brief spike in high yield spreads earlier this year created a narrow but meaningful window to invest. As Tom notes, staying flexible and well-positioned is key: “You had about a week to take advantage of some of those dislocations.” Watch the full replay to learn more: 🔗https://xmrrwallet.com/cmx.phubs.ly/Q03BwQ1H0 #Weitz #Spreads #FixedIncome #HighYield

Objects in the Mirror Are Closer Than They Appear 🚨 Fed headlines can also distort reality. ✅Fed Chairs often takes the heat, but they are only 1 of 12 voting members on the FOMC. ✅The Fed meets 8 times a year to set the Fed Funds Rate, through a majority vote. ✅This rate dictates the overnight lending and borrowing costs between banks and primarily impacts short-term vs. long-term lending rates, that influence mortgage markets and corporate borrowing costs. This rate is the Fed’s primary lever to fulfill its dual mandate: 1️⃣ Price Stability (keeping inflation in check) 2️⃣ Maximum Employment Despite political noise, the Fed recently held rates at 4.00–4.25%. Why? Because inflation is still above target, while the labor market remains strong (or at least was—until Friday’s downward revisions). 📈 It's important to remember that Fed decisions are based on data and consensus, not political pressure or sound bites. The takeaway: Look past the headlines—and focus on fundamentals Learn how we stay focused on fundamentals in a noisy market: https://xmrrwallet.com/cmx.phubs.la/Q03B9GZ80

🧭 In a Market This Tight, Navigation Matters Credit spreads are hovering near record lows—raising the bar for finding value in fixed income. In our recent update of Spread Watch, we explore what the “great compression” means for portfolios and where careful credit selection can still make a difference. ✅ IG and HY corporate spreads at extreme lows (1st & 3rd percentiles) ✅ Off-index opportunities—like MBS and ABS—stand out in this environment 🔗 Learn more: https://xmrrwallet.com/cmx.phubs.la/Q03zQTMT0 #FixedIncome #SpreadWatch #CreditSpreads

Resilience or Teflon? In Q2, markets absorbed tariffs, ratings downgrades, and geopolitical risk—yet rallied with remarkable speed. This Fixed Income Insights update from Tom Carney, CFA and Nolan Anderson explores how volatility spiked, spreads widened briefly, and yet resilient credit markets offered tactical entry points. ✅ HY and IG spreads neared historic tights—below 90th percentile since 2000 ✅ Treasury curve steepened, with 3- to 5-year yields dropping over 50 bps 🔗 Read the full article here: https://xmrrwallet.com/cmx.phubs.la/Q03yQlMx0 #FixedIncome #Weitz #FinancialAdvisors #Tariffs #CreditMarkets #Treasuries

Non-QM lending is not a return to subprime — it’s a modern credit tool evolving with the housing market. As agency underwriting tightened, a new market emerged to serve qualified borrowers with complex profiles. This article breaks down the structure and potential of non-QM RMBS in today’s landscape. ✅ Structural reforms + stronger underwriting = reduced risk vs. pre-GFC ✅ Growing private market fills a large, persistent lending gap 🔗 Learn more in our Asset Manager’s Lens series: https://xmrrwallet.com/cmx.phubs.la/Q03xHKnw0 #FixedIncome #AssetManagersLens #RMBS #NonQM

In his latest letter, Wally likens recent policy moves to “own goals”—unforced errors adding noise to an already uncertain market. ✔️ Tariffs disrupt supply chains and pressure profits. ✔️ Labor and innovation face risks from immigration and funding cuts. ✔️ Strong companies remain adaptable and resilient. Volatility may persist, but long-term value endures. Read the full letter: https://xmrrwallet.com/cmx.phubs.la/Q03xw25M0

⚾All-star players work the count, find their pitch, and show up in every inning — not the highlight reel. That’s how we think about investing, too. Grounded in strategy and research, WCPBX plays with patience and precision—consistently getting on base and outperforming the Agg 93.5% of the time on a rolling 3-year basis since inception. Learn more about how Weitz Core Plus Income Fund performs in every inning: 🔗https://xmrrwallet.com/cmx.phubs.la/Q03xgB7d0 #WCPBX #AllStar #FixedIncome

Investment Professionals — Our Mid-Year Outlook Webinar is almost here! 📅 Tuesday, July 15 | 1:00 PM ET | 12:00 PM CT | 11:00 AM MT | 10:00 AM PT Tom Carney, CFA, and Nolan Anderson are going live tomorrow to share their take on what’s driving fixed income markets for the rest of 2025. Curious about something specific? Bring your questions to the live Q&A. 👉 Register before it kicks off: https://xmrrwallet.com/cmx.phubs.la/Q03wwBXb0

What makes ABS work? It's all about the structure. Contracts—not physical assets—back most ABS. That’s just one insight from our latest piece demystifying this $1.6T market. For investors exploring diversified income, ABS are worth understanding. ✅ Underlying loan pools drive cash flows, not hard assets ✅ Sponsor skin in the game helps align long-term incentives 🔗 Learn more in our Asset Manager’s Lens series: https://xmrrwallet.com/cmx.phubs.la/Q03wc8H90 #FixedIncome #AssetManagersLens #ABS #Weitz

Investment Professionals — Join us for our Mid-Year Outlook Webinar! 📅 Tuesday, July 15 | 1:00 PM ET | 12:00 PM CT | 11:00 AM MT | 10:00 AM PT Tom Carney, CFA, and Nolan Anderson, co-heads of fixed income, will share their latest insights on the fixed income markets as we move through the second half of 2025. Stick around for a live Q&A to ask your questions directly. 👉 Reserve your spot: https://xmrrwallet.com/cmx.phubs.la/Q03wckbX0