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Investment Team Voices

Sorting Through a Mixed Bag

Matt Freund, Christian Brobst, Charles E. Carmody
April 4, 2024

Typically, when the markets anticipate more rate cuts than we believe possible, we would position our funds with durations shorter than their benchmarks. However, our expectation for a steeper curve has led us to position Calamos Total Return Bond Fund (CTRIX) and Calamos Short-Term Bond Fund (CSTIX) with neutral to slightly long durations.

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The Fed’s Pivot: Clear but Not an “All-Clear”

Matt Freund, Christian Brobst, Charles E. Carmody
January 4, 2024

We believe that the economy avoids recession altogether in 2024 and maintains a shallow growth trajectory with inflation falling below 3%, supporting our expectation that the fed funds rate will end the year roughly 100 basis points lower. Mindful of the risks in a decelerating economy, we continue to migrate the credit qualities of the Calamos fixed income funds higher.

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Braking (and Not Breaking) the Economy

Matt Freund, Christian Brobst, Charles E. Carmody
October 5, 2023

Progress on inflation and surprisingly resilient economic growth allowed the Federal Reserve to pause its rate hiking campaign at its September 20 meeting. We have been gradually increasing portfolio durations across strategies in expectation of peak-Fed policy rates and a greater likelihood that the next rate move is a cut.

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Calamos Investment Team Outlooks, October 2021

October 19, 2021

Inflation may be more persistent, and the pace of growth may be slowing, but our teams continue to identify many opportunities across asset classes. Senior members of our investment organization share their outlooks and discuss how they are positioning portfolios. With an introduction from John P. Calamos, Sr., Founder, Chairman and Global Chief Investment Officer.

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Calamos Investment Team Outlooks, July 2021

July 19, 2021

Economic recovery, pent-up consumer demand, and corporate profitability provide a favorable backdrop for investors. However, uncertainty surrounding inflation, interest rate hikes, Covid variants and fiscal policy will contribute to choppy markets in the second half of 2021. Senior members of our investment organization share their outlooks and discuss how they are positioning the Calamos funds. With an introduction from John P. Calamos, Sr., Founder, Chairman and Global Chief Investment Officer.

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Calamos Investment Team Outlooks, April 2021

April 19, 2021

The first quarter of 2021 delivered new challenges for investors, including rotational markets, rising interest rates and mounting inflation pressures. Senior members of our investment organization share their outlooks and discuss how they are positioning the Calamos funds to navigate the crosscurrents. With an introduction from John P. Calamos, Sr., Founder, Chairman and Global Chief Investment Officer.

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2021 Outlooks from the Calamos Investment Team

January 26, 2021

Senior members of our investment organization discuss their outlooks, the opportunities and risks they see, and how they are positioning the Calamos funds. With an introduction from John P. Calamos, Sr., Founder, Chairman and Global Chief Investment Officer.

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