Andrzej Skiba, Senior Portfolio Manager and Head of BlueBay U.S. Fixed Income, joins Mindy Gudmundson, Institutional Portfolio Manager, to discuss how the team is actively navigating a turbulent 2025 market. From stress testing portfolios to seizing opportunities in market dislocations, Andrzej highlights how nimble positioning and robust internal dialogue are helping drive performance in uncertain times. Key points RBC’s culture of open debate and collaboration, paired with formal risk modeling, helps identify and resolve potential blind spots in portfolio assumptions. Use of liquid derivatives and portfolio trading enables the team to make quick, large-scale adjustments within minutes. Recent volatility created mispricings, particularly in credit and energy sectors, that active management has been able to exploit. Portfolios are positioned for U.S. curve steepening, reflecting both macro uncertainty and heavy Treasury issuance.