Thornburg Global Opportunities Fund Q2 2025 Commentary

2025-08-27 00:15:00 ET

This letter will highlight the results of the Thornburg Global Opportunities Fund for the twelve-month period ended June 30, 2025. It is published amidst the ongoing developments associated with the Russian war with Ukraine, an evolving inflation outlook in the U.S., Mideast tensions, and government policy uncertainty in the U.S. and elsewhere. The S&P 500 Index and the MSCI All Country World Index reported positive total returns for Q2’2025. The Bloomberg U.S. Aggregate Index returned +1.21% for the quarter. In brief, equities repriced higher in the face of uncertainty about the impact of U.S. trade policies, the U.S. dollar drifted lower, and most bond markets rallied....

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