-
The views expressed herein do not constitute research, investment advice or trade recommendations and do not necessarily represent the views of all AB portfolio-management teams. Views are subject to change over time.
Through April 15, 2022
Source: Refinitiv Datastream
Mortgage rates through May 23, 2022; applications through May 13, 2022; home sales through April 15, 2022
Source: Refinitiv Datastream
Through May 19, 2022
Source: Goldman Sachs
Past performance does not guarantee future results.
As of December 31, 2021
This is a hypothetical example and is not representative of any AB product. An investor cannot invest directly in an index or average, and returns do not include sales charges or operating expenses associated with an investment in a mutual fund, which would reduce total returns. The portfolio comprises 60% 10-year annualized stock real returns and 40% annualized bond real returns acquired from the website of Robert Shiller at Yale University. Inflation is measured by CPI Urban Consumers year over year non-seasonally adjusted.
Source: Bloomberg, Global Financial Data, Shiller at Yale, US Bureau of Labor Statistics and AllianceBernstein
The views expressed herein do not constitute research, investment advice or trade recommendations and do not necessarily represent the views of all AB portfolio-management teams. Views are subject to change over time.
Eric Winograd is a Senior Vice President and Director of Developed Market Economic Research. He joined the firm in 2017. From 2010 to 2016, Winograd was the senior economist at MKP Capital Management, a US-based diversified alternatives manager. From 2008 to 2010, he was the senior macro strategist at HSBC North America. Earlier in his career, Winograd worked at the Federal Reserve Bank of New York and the World Bank. He holds a BA (cum laude) in Asian studies from Dartmouth College and an MA in international studies from the Paul H. Nitze School of Advanced International Studies. Location: New York
Michael Rosborough is a Senior Vice President and Portfolio Manager on the Fixed Income team at AB, primarily focusing on Global Multi-Sector Strategies. He started his investment career in 1985. Prior to joining AB in 2020, Rosborough was an investment director at California Public Employees’ Retirement System (CalPERS) in the Trust Level Portfolio Management (TLPM) division, focused primarily on strategic asset-allocation, proprietary portfolio management and benchmarking issues across the fund. Before moving to TLPM in 2019, he was a senior portfolio manager in the Global Fixed Income unit, where he was in charge of the fund’s international, emerging markets, and inflation-linked fixed-income investments and the commodities program, collectively comprising over $37 billion in assets under management. Rosborough also served as a member of the CalPERS Portfolio Allocation Committee, advising the CIO on tactical asset-allocation issues. As part of his fixed-income duties, he also oversaw management of the CalPERS foreign exchange management activity. Prior to joining CalPERS, Rosborough worked in London as an investment strategist and proprietary trader for Citigroup and CIBC World Markets. In 2000, he joined Moore Capital Management, a New York–based hedge fund, as a portfolio manager in the fixed-income fund. In 1994, Rosborough joined PIMCO in Newport Beach, California, as a portfolio manager, founding the firm’s emerging markets fixed-income practice after co-heading its international department. He began his career with RBC Capital Markets in Toronto, first as a trader, and later heading its Asian fixed-income sales and trading group in Tokyo. Rosborough holds a BA (Hons) in economics from the University of British Columbia, where he was awarded a Mackenzie King Scholarship, an MSc in economics from the London School of Economics and Political Science, and an MBA from Harvard Business School, where he graduated with distinction. Location: San Diego
This is a marketing communication. This information is provided by AllianceBernstein (Luxembourg) S.à r.l. Société à responsabilité limitée, R.C.S. Luxembourg B 34 305, 2-4, rue Eugène Ruppert, L-2453 Luxembourg. Authorised in Luxembourg and regulated by the Commission de Surveillance du Secteur Financier (CSSF). It is provided for informational purposes only and does not constitute investment advice or an invitation to purchase any security or other investment. The views and opinions expressed are based on our internal forecasts and should not be relied upon as an indication of future market performance. The value of investments in any of the Funds can go down as well as up and investors may not get back the full amount invested. Past performance does not guarantee future results.
This information is directed at Professional Clients only and is not intended for public use.