Co-CIO Michael Grant reviews the fragile yet decisive truce that has emerged between the United States and Iran, and the implications for equity markets as the countries prioritize a political solution to the conflict. He explains why the relief rally in the wake of the ceasefire is genuine while not altering the broader framework he sees for 2026.
Read Post“There are always opportunities for long-term investors,” says Founder and Global CIO John P. Calamos, Sr. Drawing on lessons from the volatile 1970s, John shares five takeaways for navigating today’s geopolitical uncertainty and market volatility—emphasizing risk management, diversification, and staying invested. He goes on to share how our investment teams are navigating crosscurrents and uncovering opportunities across equities, convertibles, fixed income, and alternatives.
Read PostCalamos Phineus Long/Short Fund manager Michael Grant warns that the US-Iran conflict has accelerated an anticipated market correction, creating stagflationary pressures and narrowing the margin for error. He favors energy infrastructure and defense while urging discipline and caution ahead of autumn midterm elections.
Read PostDespite a volatile Q1 marked by rising geopolitical tensions, the Calamos Timpani funds—focused on secular growers insulated from cyclical pressures—outperformed their benchmarks and category averages. Small caps broadly bucked historical trends, buoyed by low valuations, M&A activity, and accelerating earnings growth.
Read PostDespite elevated geopolitical risks resulting from the Iran conflict, the Calamos global equity team maintains conviction in international opportunities while selectively adjusting toward defensive positioning. They highlight optical networking, robotics, and space as secular growth themes with especially strong near-term investment tailwinds.
Read PostCalamos Growth and Income Fund manager John Hillenbrand views the Iran war as a mid-cycle disruption rather than a contraction catalyst. He maintains equity exposure while concentrating in AI infrastructure, energy, and biotech, with conflict resolution and the inflation trajectory as the key watchpoints.
Read PostCalamos fixed income managers assess the market impact of the US-Israeli conflict with Iran, which disrupted global energy supply and widened credit spreads. Their base case anticipates conflict stabilization by mid-year, Fed rate cuts resuming in late 2026, and a continued quality bias across fixed income portfolios.
Read PostCalamos Growth Fund and Select Fund managers acknowledge significant geopolitical and macro headwinds in the first quarter of 2026 but maintain that the US economic foundation remains intact. Their base case calls for conflict resolution within months, and they are selectively adding to quality positions on weakness.
Read PostCalamos Convertible Fund (CICVX) navigated a volatile first quarter by emphasizing the asymmetric risk/reward profile of convertibles amid geopolitical uncertainty and equity market weakness. The managers maintain a high conviction in AI infrastructure as a durable growth theme and expect convertible issuance to reaccelerate as conditions stabilize.
Read PostCalamos Market Neutral Income Fund (CMNIX) delivered positive absolute returns in a volatile first quarter of 2026, outperforming a declining S&P 500. The fund’s four core strategies—edged equity, convertible arbitrage, merger arbitrage, and SPAC arbitrage—all contributed positively amid equity weakness and geopolitical uncertainty.
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