Investments

The lender's parent also said it is actively in preparation to move forward on plans to unlock equity value in 2025, with a Newrez spinoff among its options.

It marked another day of gains in the $29 trillion Treasury market, which has swung throughout April on President Donald Trump's evolving trade policies and uncertainty about the Fed's path.

Scrutiny will be particularly strong on the results of the $70 billion five-year auction on Wednesday because over 60% of foreigners' holdings are concentrated at that maturity or less.

The partnership is intended to combine the fixed-income abilities of MassMutual subsidiary Barings with Invesco's distribution network across U.S. wealth markets.

The outperformance of local-currency debt has led to an unusual situation where the historically riskier bonds are trading at lower yields than those denominated in the dollar — traditionally the world's main haven asset.

Investing across the credit spectrum for more than three decades, through multiple credit cycles and disruptive market events, has given OHA unique insight, particularly in volatile periods.

US bonds have been whipsawed this month as President Donald Trump's move to impose global tariffs raised threats to the economy, undermining Treasuries' reputation as the world's safest asset.

The rebound in bonds eased concerns that built last week, when a steady rise in yields threatened to deal the US economy another hit by pushing up the cost of all kinds of loans.

Bessent reiterated his interpretation of the decline being mainly a product of deleveraging, saying he had no evidence that sovereigns were behind the drop.

Investor confidence in US bonds can no longer be taken for granted — not after a years-long borrowing binge, not with a president hell-bent on rewriting the rules at home and abroad and antagonizing many of the country's biggest creditors.