Goldman Sachs Government Income Fund Q3 2025 Commentary

Mutual Fund Commentaries 59 Follower s Follow 5 Share Save Play ( 13min ) Comments Summary The quarter saw weakness in the labor market with payrolls increasing by just +22k and unemployment moving up to its highest since late-2021. The Bloomberg US Mortgage-Backed Securities Index returned +2.43% in Q3, with spreads tightening and yields falling. The I shares of the GS Government Income Fund returned +1.83% (net) over the quarter, performing in line with its benchmark. We maintain our bias for the curve to steepen due to persistent term premium, and if further cracks emerge in the labor market deeper Fed cuts are now possible. We remain overweight securitized credit sectors, echoing the risk-on sentiment in the market. phongphan5922/iStock via Getty Images Market Overview Rates broadly rallied during the period. The quarter saw weakness in the labor market with payrolls increasing by just +22k and unemployment moving up to its highest since late-2021. This compounded an already weak view of This article was written by Mutual Fund Commentaries 59 Follower s Follow Select quarterly mutual fund commentaries.

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