Bonds are Back

We’ve been waiting for you…


Experience the power of a globally integrated Fixed Income platform spanning public and private markets.

Our Capabilities

We have been managing fixed income assets for more than 40 years. We believe a value-oriented approach based on process-led investing and a commitment to research positions us to capitalize on market inefficiencies.

Get to Know Us1


Fixed Income AUM


Private Credit AUM


Investment Professionals


Credit Research Analysts

The Playbook

While bonds are enjoying a rebound, we believe the current economic backdrop presents three core market scenarios you should consider for the next 12 months. Irrespective of how market conditions develop, and whether investors opt for single or multi-sector fixed income strategies, flexibility and expertise are critical to navigating evolving conditions.

Inflation remains well above central bank targets

Impact on Markets

  • Real GDP growth declines, but nominal GDP growth remains high
  • Interest rates remain elevated or even edge higher
  • Credit spreads widen

Inflation stabilizes slightly above central bank targets

Impact on Markets

  • Nominal GDP growth declines, but real GDP growth stabilizes
  • Interest rates plateau
  • Credit spreads stabilize

Inflation falls back to central bank targets

Impact on Markets

  • Short to moderate duration
  • High Yield Multi-Sector Fixed Income Investment Grade

Resurgent Fixed Income

Multi-Sector Fixed Income

Municipal Fixed Income

Private Debt

Cash Management and Short Duration Municipals

Fixed Income Blog

Our fixed income professionals share their latest thoughts on the evolving state of global markets and the macro economy.


Disruptive Forces Podcast

Bonds and Beyond in Today's Fixed Income Markets

A shift into higher rates globally over the latter part of 2023 has created a new investment regime in the fixed income markets; prompting investors to reassess their strategic asset allocation.


Investment expertise aligned with your purpose

Investment Strategy

A platform uniquely designed to solve for you

Portfolio Solutions

1As of June 30, 2023

This material is provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice. This material is general in nature and is not directed to any category of investors and should not be regarded as individualized, a recommendation, investment advice or a suggestion to engage in or refrain from any investment-related course of action. Investment decisions and the appropriateness of this material should be made based on an investor's individual objectives and circumstances and in consultation with his or her advisors. Any views or opinions expressed may not reflect those of the firm as a whole. This material may include estimates, outlooks, projections and other “forward-looking statements.” Due to a variety of factors, actual events may differ significantly from those presented.

A bond’s value may fluctuate based on interest rates, market conditions, credit quality, political events, currency devaluation and other factors. You may have a gain or loss if you sell your bonds prior to maturity. This information should not be construed as specific tax or investment advice. Please contact a tax advisor regarding the suitability of tax-exempt investments in your portfolio. If sold prior to maturity, municipal securities are subject to gain/losses based on the level of interest rates, market conditions and the credit quality of the issuer. Income may be subject to the alternative minimum tax (AMT) and/or state and local taxes, based on the investor’s state of residence. High-yield bonds, also known as “junk bonds,” are considered speculative and carry a greater risk of default than investment-grade bonds. Their market value tends to be more volatile than investment-grade bonds and may fluctuate based on interest rates, market conditions, credit quality, political events, currency devaluation and other factors. High yield bonds are not suitable for all investors and the risks of these bonds should be weighed against the potential rewards. Neither Neuberger Berman nor its employees provide tax or legal advice. You should contact a tax advisor regarding the suitability of tax-exempt investments in your portfolio. Government bonds and Treasury bills are backed by the full faith and credit of the United States Government as to the timely payment of principal and interest. Investing in the stocks of even the largest companies involves all the risks of stock market investing, including the risk that they may lose value due to overall market or economic conditions. Small- and mid-capitalization stocks are more vulnerable to financial risks and other risks than stocks of larger companies. They also trade less frequently and in lower volume than larger company stocks, so their market prices tend to be more volatile. Investing in foreign securities involves greater risks than investing in securities of U.S. issuers, including currency fluctuations, interest rates, potential political instability, restrictions on foreign investors, less regulation and less market liquidity. The sale or purchase of commodities is usually carried out through futures contracts or options on futures, which involve significant risks, such as volatility in price, high leverage and illiquidity.

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Information on the Morningstar ratings for specific Neuberger Berman mutual funds is available at www.nb.com.

The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10- year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods

©2023 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Morningstar uses the Morningstar Category as the primary peer group for a number of calculations, including percentile ranks, fund-versus-category-average comparisons, and the Morningstar Rating. The Morningstar Rating compares funds’ risk-adjusted historical returns. Its usefulness depends, in part, on which funds are compared with others.

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