Home construction is falling behind the pace of new household formation, creating an imbalance between housing supply and demand.
We continue to be cautiously optimistic on the U.S. economy, which has been gradually improving. Clearly, there are a number of long-term fiscal issues that the federal government needs to address, including entitlement spending and the debt load overall. Nevertheless, the United States continues to be among the most attractive developed bond markets for investors.
Putnam Short Duration Income Fund’s Portfolio Manager Michael Salm explains the objective of the fund.
On the heels of the Lehman Brothers bankruptcy in late 2008, the U.S. Treasury and Federal Reserve Board (the “Fed”) rolled out a number of unprecedented programs designed to inject liquidity into the financial system. The mortgage purchase program began in conjunction with the Troubled Asset Relief Program, or “TARP,” and both were designed to