Mr. Mahanti is a Portfolio Manager in the Fixed Income group. He specializes in agency residential mortgage-backed and asset-backed securities within the Structured Credit team. Mr. Mahanti is a Portfolio Manager of Putnam Core Bond Fund, Putnam Stable Value Fund and Putnam ESG Core Bond ETF. He is responsible for constructing portfolios, providing fiduciary oversight, and communicating investment team decisions on policy, strategy, and tactics to fixed income clients. Previously at Putnam, Mr. Mahanti was an Analyst in the Fixed Income group. He joined Putnam in 2012 and has been in the investment industry since 2000.
More from the Fixed Income team
The Fed is pursuing QT while being careful to avoid market disruption. Compare scenarios for QT and markets in Putnam's Macro Report.
Signs of falling inflation have helped risk assets recently, but the relief is likely temporary.
As inflation sticks around, it is important to think about how it is related to high government debt.
A contracting money supply paired with the Fed's quantitative tightening is adding bank sector stress on Treasury and MBS markets.