Investment Team Voices

Ceasefire on Paper, Tension Below: Fixed Income in an Uncertain Summer

Matt Freund, Christian Brobst, Charles E. Carmody
July 1, 2026

Geopolitical tensions and a Fed pivot toward deliberate opacity are driving rate volatility, while credit fundamentals remain resilient. The Calamos fixed income team is maintaining a quality bias, monitoring record issuance volumes for spread pressure, and holding to a thesis of long-term yield-curve steepening.

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Picking Our Spots in a Record Convertible Market

Jon Vacko, Joe Wysocki
July 1, 2026

Record convertible issuance and AI infrastructure tailwinds are creating compelling opportunities. Calamos Convertible Fund leverages active management and bottom-up selection to pursue growth companies with favorable risk-reward asymmetry, while convertible structures that offer downside mitigation provide resilience amid persistent geopolitical and macroeconomic uncertainty.

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Fundamentals First: How We’re Staying Sure Footed

Matt Freund, Michael Kassab, Jake Hyatt
July 1, 2026

Growth stocks surged in Q2, led by AI infrastructure beneficiaries. Calamos Growth Fund maintains its quality bias, favoring hyperscalers and suppliers of critical AI components. With valuations elevated and market breadth historically narrow, the team remains disciplined and ready to rotate if leadership shifts.

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Everything Shaken, Little Really Stirred

Michael Grant
July 1, 2026

AI infrastructure dominance and a hawkish Fed are reshaping the investment landscape. Calamos Phineus Long/Short Fund manager Michael Grant sees broadening but concentrated market leadership, expects inflation to surprise to the downside, and anticipates a topping process through autumn as positioning risk and midterm election uncertainty intensify.

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