Reactions from Eaton Vance investment professionals

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Scott H. Page, CFA

Co-Director of Floating-Rate Loans

“Floating-rate loans offer an important escape hatch from bonds today, delivering not only the much-needed higher income, but also the asset class’s defining ‘anti-bond’ properties. They have yields rivaled by few other asset classes, while the absence of bond duration helps to diversify fixed-rate positions.”

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Yana Barton, CFA

Portfolio Manager, Growth Equity

“Investors have adapted to higher volatility this year after an incredibly quiet 2017. A healthy dose of skepticism is appropriate, particularly with so many crosscurrents like global trade, inflation, interest rates and elections. Every market environment creates winners and losers, and this one is no different. We believe volatility will remain elevated and active selection and diversification may offer the best defense for investors.”

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Adam A. Weigold, CFA

Senior Municipal Portfolio Manager

“As short-term rates move higher and the Treasury yield curve flattens, many investors are thinking about how to earn income while also protecting themselves against rising rates. Municipal floating-rate notes, an often-overlooked part of the market, may be an attractive option for investors seeking tax-free income in a rising rate environment.”


Advisor Top-of-Mind Index Methodology

The Advisor Top-of-Mind Index (ATOMIX) was calculated based on the findings of a survey of 618 financial advisors from a diverse group of companies. Eaton Vance contracted with a third party to conduct the online survey from August 20, 2018 – September 7, 2018. The Advisor Top-of-Mind Index uses a similar methodology as the U.S. Consumer Confidence Index* (which has no affiliation with Eaton Vance) in that it calculates a weighted average of current perceptions (40% of the Index) and what advisors think about the trends (60% of the Index). The Index set a baseline average of 100 for April 2014. Each component measured is tracked quarterly to illustrate changes in advisor perceptions and changes in trends over time. Future surveys will sample different financial advisors and may produce different results.

*The monthly Consumer Confidence Survey®, based on a probability-design random sample, is conducted for The Conference Board by Nielsen, a leading global provider of information and analytics around what consumers buy and watch. The Consumer Confidence Index was started in 1967 and is benchmarked to 1985=100. The Index is calculated each month based on a household survey of consumers’ opinions on current conditions and future expectations of the economy. Opinions on current conditions make up 40% of the index, with expectations of future conditions comprising the remaining 60%.